393A.570 Administrative regulations for conducting examination.

169 words·~1 min read·/ky/chapter-393a/393a-570

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

(1)The administrator shall promulgate administrative regulations in accordance with

KRS Chapter 13A governing procedures and standards for an examination under

KRS 393A.560, including rules for use of an estimation, extrapolation, and

statistical sampling in conducting an examination.

(2)An examination under KRS 393A.560 shall be performed under administrative

regulations promulgated under subsection

(1)of this section and with generally

accepted examination practices and standards applicable to an unclaimed-property

examination.

(3)If a person subject to examination under KRS 393A.560 has filed the reports

required under KRS 393A.220 and 393A.550 and has retained the records required

by KRS 393A.250, the following shall apply to the examination:

(a)The examination shall include a review of the person's records;

(b)The examination shall not be based on an estimate unless the person expressly

consents in a record to the use of an estimate; and

(c)The person conducting the examination shall consider the evidence presented

in good faith by the person in preparing the findings of the examination under

KRS 393A.610.