393A.420 Recovery of securities or value by owner.

158 words·~1 min read·/ky/chapter-393a/393a-420

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

(1)If securities are sold by the administrator before the expiration of three

(3)years

after their delivery to the administrator, a person making a claim under this chapter

before the end of the three

(3)year period shall be entitled to the proceeds of the

sale of the securities or the market value of the securities at the time the claim is

made, plus dividends, interest, and other increments up to the time the claim is

made, less any deduction for expenses of the sale.

(2)A person making a claim under this chapter after the expiration of the three

(3)year

period shall be entitled to receive the securities delivered to the administrator by the

holder, if the securities remain in the custody of the administrator, or the net

proceeds received from the sale, and shall not be entitled to receive any appreciation

in the value of the property occurring after the delivery to the administrator.