Kentucky Statutes 393A.750 – Waiver of interest and penalty
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The administrator:
(1) May waive, in whole or in part, interest under KRS § 393A.730(1) and penalties under KRS § 393A.730(2) or 393A.740; and
(2) Shall waive a penalty under KRS § 393A.730(2) if the administrator determines that the holder acted in good faith and without negligence.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 75, effective July 14, 2018.
(1) May waive, in whole or in part, interest under KRS § 393A.730(1) and penalties under KRS § 393A.730(2) or 393A.740; and
Terms Used In Kentucky Statutes 393A.750
- Administrator: means the Kentucky State Treasurer. See Kentucky Statutes 393A.010
- 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
(2) Shall waive a penalty under KRS § 393A.730(2) if the administrator determines that the holder acted in good faith and without negligence.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 75, effective July 14, 2018.