There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Article 8 Investment Securities
355.8.203 Staleness as notice of defect or defense.
Download pdfimmediate performance of the principal obligation represented by a certificated security
or setting a date on or after which the security is to be presented or surrendered for
redemption or exchange, a purchaser is charged with notice of any defect in its issue or
defense of the issuer, if the act or event:
(1) Requires the payment of money, the delivery of a certificated security, the registration of transfer of an uncertificated security, or any of them on presentation
or surrender of the security certificate, the money or security is available on the date
set for payment or exchange, and the purchaser takes the security more than one
year after that date; or (2) Is not covered by subsection (1) of this section and the purchaser takes the security more than two years after the date set for surrender or presentation or the date on
which performance became due. Effective: January 1, 1997
History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 132, effective January 1, 1997. -- Amended 1986 Ky. Acts ch. 118, sec. 19, effective July 1, 1987. -- Created
1958 Ky. Acts ch. 77, sec. 8-203, effective July 1, 1960.
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