Kentucky Statutes 393A.460 – Administrator to retain records of property
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The administrator shall:
(1) Record and retain the name and last-known address of each person shown on a report filed under KRS § 393A.220 to be the apparent owner of property delivered to the administrator;
(2) Record and retain the name and last-known address of each insured or annuitant and beneficiary shown on the report;
(3) For each policy of insurance or annuity contract listed in the report of an insurance company, record and retain the policy or account number, the name of the company, and the amount due or paid; and
(4) For each apparent owner listed in the report, record and retain the name of the holder that filed the report and the amount due or paid.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 46, effective July 14, 2018.
(1) Record and retain the name and last-known address of each person shown on a report filed under KRS § 393A.220 to be the apparent owner of property delivered to the administrator;
Terms Used In Kentucky Statutes 393A.460
- Administrator: means the Kentucky State Treasurer. See Kentucky Statutes 393A.010
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- 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
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Contract: A legal written agreement that becomes binding when signed.
- Holder: means a person obligated to hold for the account of, or to deliver or pay to, the owner, property subject to this chapter. See Kentucky Statutes 393A.010
- Insurance company: means an association, corporation, or fraternal or mutual- benefit organization, whether or not for profit, engaged in the business of providing life endowments, annuities, or insurance, including accident, burial, casualty, credit- life, contract-performance, dental, disability, fidelity, fire, health, hospitalization, illness, life, malpractice, marine, mortgage, surety, wage-protection, and worker- compensation insurance. See Kentucky Statutes 393A.010
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- Person: means an individual, estate, business association, public corporation, government or governmental subdivision, agency, or instrumentality or other legal entity. See Kentucky Statutes 393A.010
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Kentucky Statutes 393A.010
(2) Record and retain the name and last-known address of each insured or annuitant and beneficiary shown on the report;
(3) For each policy of insurance or annuity contract listed in the report of an insurance company, record and retain the policy or account number, the name of the company, and the amount due or paid; and
(4) For each apparent owner listed in the report, record and retain the name of the holder that filed the report and the amount due or paid.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 46, effective July 14, 2018.