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Kentucky Revised Statutes Title XXXIV. Descent, Wills, and Administration of Decedents' Estates § 393A.020.Inapplicability to foreign transaction

Current as of January 01, 2021 | Updated by FindLaw Staff

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 1;

(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.

1 26 U.S.C.A. 501(c)(3)
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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXXIV. Descent, Wills, and Administration of Decedents' Estates § 393A.020.Inapplicability to foreign transaction - last updated January 01, 2021 | https://codes.findlaw.com/ky/title-xxxiv-descent-wills-and-administration-of-decedents-estates/ky-rev-st-sect-393a-020/

Read this complete Kentucky Revised Statutes Title XXXIV. Descent, Wills, and Administration of Decedents' Estates § 393A.020.Inapplicability to foreign transaction on Westlaw

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