Title 787 | Chapter 001 | Regulation 250
SUPERSEDED
This document is no longer current.
787 KAR 1:250.Release of notice of levy.
Section 1.
The secretary or his designated representative shall release a levy if:(1)
The delinquent employer enters into an arrangement placing property in escrow with a value equal to or greater than the amount necessary to secure payment of the liability, including expenses of levy;(2)
The delinquent employer furnishes a bond equal to or greater than the employer's total liability conditions upon payment of the liability, including expenses of levy;(3)
A payment is made of an amount determined by the division to be equal to the interest of the division in the seized property or of the part of the seized property to be released. The amount to be paid under this release provision shall be determined in the same manner as for discharge of property from a tax lien. Release of a levy shall not itself constitute a lien release;(4)
The delinquent employer enters into a partial payment agreement; or(5)
The value of the interest of the division in the seized property to be released is insufficient to cover the expenses of the sale.HISTORY: (22 Ky.R. 487; eff. 11-6-95; 33 Ky.R. 2196; 3191; eff. 5-4-2007; Crt eff. 2-24-2020.)
787 KAR 1:250.Release of notice of levy.
Section 1.
The secretary or his designated representative shall release a levy if:(1)
The delinquent employer enters into an arrangement placing property in escrow with a value equal to or greater than the amount necessary to secure payment of the liability, including expenses of levy;(2)
The delinquent employer furnishes a bond equal to or greater than the employer's total liability conditions upon payment of the liability, including expenses of levy;(3)
A payment is made of an amount determined by the division to be equal to the interest of the division in the seized property or of the part of the seized property to be released. The amount to be paid under this release provision shall be determined in the same manner as for discharge of property from a tax lien. Release of a levy shall not itself constitute a lien release;(4)
The delinquent employer enters into a partial payment agreement; or(5)
The value of the interest of the division in the seized property to be released is insufficient to cover the expenses of the sale.HISTORY: (22 Ky.R. 487; eff. 11-6-95; 33 Ky.R. 2196; 3191; eff. 5-4-2007; Crt eff. 2-24-2020.)