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Senate Bill 235

Actions | Amendments
Last Action returned to Judiciary (H)
Title AN ACT relating to escheat and declaring an emergency.
Bill Documents Bill
Bill Request Number 1353
Sponsor M. McGarvey
Summary of Original Version Create a new section of KRS Chapter 393 to establish a method for the escheat of United States savings bonds to the Commonwealth of Kentucky by allowing the Commonwealth to take ownership of United States savings bonds; amend KRS 393.068 to reduce the escheat period for federal property from five to three years; EMERGENCY.
Index Headings of Original Version Escheats - United States savings bonds, establish a process for
Federal Laws and Regulations - United States savings bonds, provide for escheat of
Treasurer - Escheats, United States savings bonds
Effective Dates, Emergency - BR 1353, Escheats of U.S. savings bonds
Proposed Amendments Senate Committee Substitute 1
Votes Vote History

Actions

Top | Amendments
03/06/14
  • introduced in Senate
03/11/14
  • to Judiciary (S)
03/19/14
  • taken from Judiciary (S)
  • 1st reading
  • reassigned to Appropriations & Revenue (S)
03/20/14
  • reported favorably, 2nd reading, to Rules with Committee Substitute as a Consent Bill
  • posted for passage in the Consent Orders of the Day for Friday, March 21, 2014
03/21/14
  • 3rd reading, passed 38-0 with Committee Substitute
03/24/14
  • received in House
  • taken from Committee on Committees (H)
  • 1st reading
  • returned to Committee on Committees (H)
03/25/14
  • to Judiciary (H)
  • taken from Judiciary (H)
  • 2nd reading
  • returned to Judiciary (H)

Proposed Amendments

Top | Actions
Amendment Senate Committee Substitute 1
Summary Retain original provisions, except add definitions; clarify that bonds are presumed abandoned if they remain unclaimed and unredeemed for 3 years after final maturity; delete the requirement that a suit to claim ownership of abandoned bonds must be filed within 180 days; make technical corrections.
Index Headings Escheats - United States savings bonds, establish a process for
Federal Laws and Regulations - United States savings bonds, provide for escheat of
Treasurer - Escheats, United States savings bonds
Effective Dates, Emergency - BR 1353, Escheats of U.S. savings bonds

Last updated: 8/27/2019 6:52 PM (EDT)