393.068 Presumption of abandonment of personal property held by federal
170 words·~1 min read·
/ky/393-068A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
government.
(1)All tangible personal property or intangible personal property, including choses in
action in amounts certain, and all debts owed or entrusted funds or other property
held by the federal government or any federal agency, or any officer, or appointee
thereof, shall be presumed abandoned in this state if the last known address of the
owner of the property is in this state and the property has remained unclaimed for
three
(3)years.
(2)The federal government or any federal agency thereof which pays or delivers
abandoned property to the department under this section is relieved of all liability to
the extent of the value of the property so paid or delivered for any claim which then
exists or which thereafter may arise or be made in respect to the property.
(3)The federal government or any federal agency thereof may deduct from the amounts
to be paid or delivered to the department the proportionate share of the actual and
necessary costs of examining records and reporting such information.