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SB 235 (BR 1353) - M. McGarvey

     AN ACT relating to escheat and declaring an emergency.
     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.


     SCS - 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.

     Mar 6-introduced in Senate
     Mar 11-to Judiciary (S)
     Mar 19-taken from Judiciary (S); 1st reading; reassigned to Appropriations & Revenue (S)
     Mar 20-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
     Mar 21-3rd reading, passed 38-0 with Committee Substitute
     Mar 24-received in House; taken from Committee on Committees (H); 1st reading; returned to Committee on Committees (H)
     Mar 25-to Judiciary (H); taken from Judiciary (H); 2nd reading; returned to Judiciary (H)

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