Kentucky Statutes 393A.410 – Disposal of securities
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(1) The administrator shall not sell or otherwise liquidate a security until three (3) years after the administrator receives the security and gives the apparent owner notice under KRS § 393A.290 that the administrator holds the security.
(2) The administrator shall not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The administrator may sell a security not listed on an established exchange by any commercially reasonable method.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 41, effective July 14, 2018.
(2) The administrator shall not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The administrator may sell a security not listed on an established exchange by any commercially reasonable method.
Terms Used In Kentucky Statutes 393A.410
- Administrator: means the Kentucky State Treasurer. See Kentucky Statutes 393A.010
- Apparent owner: means a person whose name appears on the records of a holder as the owner of property held, issued, or owing by the holder. See Kentucky Statutes 393A.010
- Security: means :
(a) A security as defined in KRS §. See Kentucky Statutes 393A.010
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 41, effective July 14, 2018.