2009 Kentucky Revised Statutes
Article 8 Investment Securities
355.8.112 Creditor's legal process.

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Page 1 of 1 355.8-112 Creditor's legal process. (1) The interest of a debtor in a certificated security may be reached by a creditor only by actual seizure of the security certificate by the officer making the attachment or <br>levy, except as otherwise provided in subsection (4) of this section. However, a <br>certificated security for which the certificate has been surrendered to the issuer may <br>be reached by a creditor by legal process upon the issuer. (2) The interest of a debtor in an uncertificated security may be reached by a creditor only by legal process upon the issuer at its chief executive office in the United <br>States, except as otherwise provided in subsection (4) of this section. (3) The interest of a debtor in a security entitlement may be reached by a creditor only by legal process upon the securities intermediary with whom the debtor's securities <br>account is maintained, except as otherwise provided in subsection (4) of this <br>section. (4) The interest of a debtor in a certificated security for which the certificate is in the possession of a secured party, or in an uncertificated security registered in the name <br>of a secured party, or a security entitlement maintained in the name of a secured <br>party, may be reached by a creditor by legal process upon the secured party. (5) A creditor whose debtor is the owner of a certificated security, uncertificated security, or security entitlement is entitled to aid from a court of competent <br>jurisdiction, by injunction or otherwise, in reaching the certificated security, <br>uncertificated security, or security entitlement or in satisfying the claim by means <br>allowed at law or in equity in regard to property that cannot readily be reached by <br>other legal process. Effective: January 1, 1997 <br>History: Created 1996 Ky. Acts ch. 130, sec. 125, effective January 1, 1997.

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