393A.520 When administrator must honor claim for property.

182 words·~1 min read·/ky/chapter-393a/393a-520

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

(1)The administrator shall pay or deliver property to a claimant under KRS

393A.510(1) if the administrator receives evidence sufficient to establish to the

satisfaction of the administrator that the claimant is the owner of the property.

(2)Not later than ninety

(90)days after a claim is filed under KRS 393A.510(1), the

administrator shall allow or deny the claim and give the claimant notice in a record

of the decision.

(3)If the claim is denied under subsection

(2)of this section:

(a)The administrator shall inform the claimant of the reason for the denial and

specify what additional evidence, if any, is required for the claim to be

allowed;

(b)The claimant may file an amended claim with the administrator or request an

administrative hearing under KRS 393A.540; and

(c)The administrator shall consider an amended claim filed under paragraph

of this subsection as an initial claim.

(4)If the administrator does not take action on a claim during the ninety

(90)day period

following the filing of a claim under KRS 393A.510(1), the claim shall be deemed

denied.