2006 Kentucky Revised Statutes - .507   Effect of certain events on effectiveness of financing statement.

355.9-507 Effect of certain events on effectiveness of financing statement. (1) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. (2) Except as otherwise provided in subsection (3) of this section and KRS 355.9-508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under KRS 355.9-506. (3) If a debtor so changes its name that a filed financing statement becomes seriously misleading under KRS 355.9-506: (a)  The financing statement is effective to perfect a security interest in collateral acquired by the debtor before the change, or within four (4) months after the debtor notifies the secured party in writing of the change; and (b)  The financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four (4) months after the debtor notifies the secured party in writing of the change, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four (4) months after the change. Effective: July 1, 2001 History: Amended 2001 Ky. Acts ch. 65, sec. 2, effective July 1, 2001. -- Repealed and reenacted 2000 Ky. Acts ch. 408, sec. 98, effective July 1, 2001. -- Created 1958 Ky. Acts ch. 77, sec. 9-507, effective July 1, 1960.