393A.420 Recovery of securities or value by owner. (1) If securities are sold by the administrator before the expiration of three (3) years after their delivery to the administrator, a person making a claim under this chapter before the end of the three (3) year period shall be entitled to the proceeds of the sale of the securities or the market value of the securities at the time the claim is made, plus dividends, interest, and other increments up to the time the claim is made, less any deduction for expenses of the sale. (2) A person making a claim under this chapter after the expiration of the three (3) year period shall be entitled to receive the securities delivered to the administrator by the holder, if the securities remain in the custody of the administrator, or the net proceeds received from the sale, and shall not be entitled to receive any appreciation in the value of the property occurring after the delivery to the administrator. Effective: July 14, 2018 History: Created 2018 Ky. Acts ch. 163, sec. 42, effective July 14, 2018.
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