Subject to KRS 393A.120 and except for property described in KRS 393A.050 and property held in a plan described in 26 U.S.C. sec. 529A, property held in an account or plan, including a health savings account, that qualifies for tax deferral under the incom etax laws of the United States shall be presumed abandoned if it is unclaimed by the apparent owner three (3) years after the earlier of: (1) The date, if determinable by the holder, specified in the income -tax laws and regulations of the United States by which distribution of the property shall begin to avoid a tax penalty, with no distribution having been made; or (2) Thirty (30) years after the date the account was opened.
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