Ky. Rev. Stat. § 393A.020

Current through 2024 Ky. Acts ch. 225

Section 393A.020 - Inapplicability to foreign transaction

This chapter shall not apply to:

(1) Property held, due, and owing in a foreign country if the transaction out of which the property arose was a foreign transaction;

(2) Money, funds, or any other intangible property held by or owing:

(a) To a nonprofit exempt under Section 501(c)(3) of the Internal Revenue Code;

(b) For any minerals or other raw materials capable of being used for fuel in the course of manufacturing, processing, production, or mining; or

(c) For any mineral proceeds;

(3) Wages or salaries of fifty dollars ($50) or less that are not claimed by an employee within one (1) year of the date the wages or salaries are earned, unless the amounts are held on a payroll card;

(4) Moneys in inmate accounts and prisoner canteen accounts held by jailer under KRS 441.137; or

(5) Funds held in a lawyer IOLTA trust account under Supreme Court Rule 3.830.

KRS 393A.020

Amended by 2019 Ky. Acts ch. 125,§ 3, eff. 6/26/2019.

Added by 2018 Ky. Acts ch. 163,§ 2, eff. 7/14/2018.