393A.390 Periods of limitation and repose.

149 words·~1 min read·/ky/chapter-393a/393a-390

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Expiration, before, on, or after July 14, 2018, of a period of limitation on an owner's

right to receive or recover property, whether specified by contract, statute, or court

order, shall not prevent the property from being presumed abandoned or affect the

duty of a holder under this chapter to file a report or pay or deliver property to the

administrator.

(2)The administrator shall not commence an action or proceeding to enforce this

chapter with respect to the reporting, payment, or delivery of property more than

five

(5)years after the holder filed a non-fraudulent report under KRS 393A.220

with the administrator. The parties may agree in a record to extend the limitation in

this subsection.

(3)The administrator shall not commence an action, proceeding, or examination with

respect to a duty of a holder under this chapter more than ten

(10)years after the

duty arose.