There is a newer version of the Kentucky Revised Statutes
2015 Kentucky Revised Statutes
CHAPTER 355 - UNIFORM COMMERCIAL CODE
Article 9 - Secured Transactions -- Sales of Accounts, Contract Rights, and Chattel Paper
Part 1. General Provisions Subpart 1. Short Title, Definitions, and General Concepts- 9.9-101 Short title.
- 9.9-102 Definitions and index of definitions.
- 9.9-103 Purchase-money security interest -- Application of payments -- Burden of establishing.
- 9.9-104 Control of deposit account.
- 9.9-105 Control of electronic chattel paper.
- 9.9-106 Control of investment property.
- 9.9-107 Control of letter-of-credit right.
- 9.9-108 Sufficiency of description.
- 9.9-109 Scope.
- 9.9-110 Security interests arising under Article 2 or 2A.
- 9.9-111 Repealed, 1992.
- 9.9-112 Repealed, 2000.
- 9.9-113 Repealed, 2000.
- 9.9-114 Repealed, 2000.
- 9.9-115 Repealed, 2000.
- 9.9-116 Repealed, 2000.
- 9.9-201 General effectiveness of security agreement.
- 9.9-202 Title to collateral immaterial.
- 9.9-203 Attachment and enforceability of security interest -- Proceeds -- Supporting obligations -- Formal requisites.
- 9.9-204 After-acquired property -- Future advances.
- 9.9-205 Use or disposition of collateral permissible.
- 9.9-206 Security interest arising in purchase or delivery of financial asset.
- 9.9-207 Rights and duties of secured party having possession or control of collateral.
- 9.9-208 Additional duties of secured party having control of collateral.
- 9.9-209 Duties of secured party if account debtor has been notified of assignment.
- 9.9-210 Request for accounting -- Request regarding list of collateral or statement of account.
- 9.9-301 Law governing perfection and priority of security interests.
- 9.9-302 Law governing perfection and priority of agricultural liens.
- 9.9-303 Law governing perfection and priority of security interests in goods covered by a certificate of title.
- 9.9-304 Law governing perfection and priority of security interests in deposit accounts.
- 9.9-305 Law governing perfection and priority of security interests in investment property.
- 9.9-306 Law governing perfection and priority of security interests in letter-of-credit rights.
- 9.9-307 Location of debtor.
- 9.9-308 When security interest or agricultural lien is perfected -- Continuity of perfection.
- 9.9-309 Security interest perfected upon attachment.
- 9.9-310 When filing required to perfect security interest or agricultural lien -- Security interests and agricultural liens to which filing provisions do not apply.
- 9.9-311 Perfection of security interests in property subject to certain statutes, regulations, and treaties.
- 9.9-312 Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money -- Perfection by permissive filing -- Temporary perfection without filing or transfer of possession.
- 9.9-313 When possession by or delivery to secured party perfects security interest without filing.
- 9.9-314 Perfection by control.
- 9.9-315 Secured party's rights on disposition of collateral and in proceeds.
- 9.9-316 Continued perfection of security interest following change in governing law.
- 9.9-317 Interests that take priority over or take free of security interest or agricultural lien.
- 9.9-318 No interest retained in right to payment that is sold -- Rights and title of seller of account or chattel paper with respect to creditors and purchasers.
- 9.9-319 Rights and title of consignee with respect to creditors and purchasers.
- 9.9-320 Buyer of goods.
- 9.9-321 Licensee of general intangible and lessee of goods in ordinary course of business.
- 9.9-322 Priorities among conflicting security interests in and agricultural liens on same collateral.
- 9.9-323 Future advances.
- 9.9-324 Priority of purchase-money security interests.
- 9.9-325 Priority of security interests in transferred collateral.
- 9.9-326 Priority of security interests created by new debtor.
- 9.9-327 Priority of security interests in deposit account.
- 9.9-328 Priority of security interests in investment property.
- 9.9-329 Priority of security interests in letter-of-credit right.
- 9.9-330 Priority of purchaser of chattel paper or instrument.
- 9.9-331 Priority of rights of purchasers of instruments, documents, and securities under other articles -- Priority of interests in financial assets and security entitlements under Article 8.
- 9.9-332 Transfer of money -- Transfer of funds from deposit account.
- 9.9-333 Priority of certain liens arising by operation of law.
- 9.9-334 Priority of security interests in fixtures and crops.
- 9.9-335 Accessions.
- 9.9-336 Commingled goods.
- 9.9-337 Priority of security interests in goods covered by certificate of title.
- 9.9-338 Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.
- 9.9-339 Priority subject to subordination.
- 9.9-340 Effectiveness of right of recoupment or set-off against deposit account.
- 9.9-341 Bank's rights and duties with respect to deposit account.
- 9.9-342 Bank's right to refuse to enter into or disclose existence of control agreement.
- 9.9-401 Alienability of debtor's rights.
- 9.9-401A Repealed, 2000.
- 9.9-402 Secured party not obligated on contract of debtor or in tort.
- 9.9-403 Agreement not to assert defenses against assignee.
- 9.9-404 Rights acquired by assignee -- Claims and defenses against assignee.
- 9.9-405 Modification of assigned contract.
- 9.9-406 Discharge of account debtor -- Notification of assignment -- Identification and proof of assignment -- Restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective.
- 9.9-407 Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest.
- 9.9-408 Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective.
- 9.9-409 Restrictions on assignment of letter-of-credit rights ineffective.
- 9.9-501 Filing office.
- 9.9-502 Contents of financing statement -- Record of mortgage as financing statement -- Time of filing financing statement.
- 9.9-503 Name of debtor and secured party.
- 9.9-504 Indication of collateral.
- 9.9-505 Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions.
- 9.9-506 Effect of errors or omissions.
- 9.9-507 Effect of certain events on effectiveness of financing statement.
- 9.9-508 Effectiveness of financing statement if new debtor becomes bound by security agreement.
- 9.9-509 Persons entitled to file a record.
- 9.9-510 Effectiveness of filed record.
- 9.9-511 Secured party of record.
- 9.9-512 Amendment of financing statement.
- 9.9-513 Termination statement.
- 9.9-513A Termination of wrongfully filed record -- Reinstatement.
- 9.9-514 Assignment of powers of secured party of record.
- 9.9-515 Duration and effectiveness of financing statement -- Effect of lapsed financing statement.
- 9.9-516 What constitutes filing -- Effectiveness of filing.
- 9.9-516A Administrative rejection of unauthorized records.
- 9.9-517 Effect of indexing errors.
- 9.9-518 Claim concerning inaccurate or wrongfully filed record.
- 9.9-519 Numbering, maintaining, and indexing records -- Communicating information provided in records.
- 9.9-520 Acceptance and refusal to accept record.
- 9.9-521 Uniform form of written financing statement and amendment.
- 9.9-522 Maintenance and destruction of records.
- 9.9-523 Information from filing office -- Sale or license of records.
- 9.9-524 Delay by filing office.
- 9.9-525 Fees.
- 9.9-526 Filing-office rules.
- 9.9-527 Duty to report.
- 9.9-601 Rights after default -- Judicial enforcement -- Consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.
- 9.9-602 Waiver and variance of rights and duties.
- 9.9-603 Agreement on standards concerning rights and duties.
- 9.9-604 Procedure if security agreement covers real property or fixtures.
- 9.9-605 Unknown debtor or secondary obligor.
- 9.9-606 Time of default for agricultural lien.
- 9.9-607 Collection and enforcement by secured party.
- 9.9-608 Application of proceeds of collection or enforcement -- Liability for deficiency and right to surplus.
- 9.9-609 Secured party's right to take possession after default.
- 9.9-610 Disposition of collateral after default.
- 9.9-611 Notification before disposition of collateral.
- 9.9-612 Timeliness of notification before disposition of collateral.
- 9.9-613 Contents and form of notification before disposition of collateral: General.
- 9.9-614 Contents and form of notification before disposition of collateral: Consumer-goods transaction.
- 9.9-615 Application of proceeds of disposition -- Liability for deficiency and right to surplus.
- 9.9-616 Explanation of calculation of surplus or deficiency.
- 9.9-617 Rights of transferee of collateral.
- 9.9-618 Rights and duties of certain secondary obligors.
- 9.9-619 Transfer of record or legal title.
- 9.9-620 Acceptance of collateral in full or partial satisfaction of obligation -- Compulsory disposition of collateral.
- 9.9-621 Notification of proposal to accept collateral.
- 9.9-622 Effect of acceptance of collateral.
- 9.9-623 Right to redeem collateral.
- 9.9-624 Waiver.
- 9.9-625 Remedies for secured party's failure to comply with article.
- 9.9-626 Action in which deficiency or surplus is in issue.
- 9.9-627 Determination of whether conduct was commercially reasonable.
- 9.9-628 Nonliability and limitation on liability of secured party -- Liability of secondary obligor.
- 9.9-701 Effective date.
- 9.9-702 Savings clause.
- 9.9-703 Security interest perfected before effective date.
- 9.9-704 Security interest unperfected before effective date.
- 9.9-705 Effectiveness of action taken before effective date.
- 9.9-706 When initial financing statement suffices to continue effectiveness of financing statement -- Minor errors or omissions.
- 9.9-707 Amendment of pre-effective-date financing statement.
- 9.9-708 Persons entitled to file initial financing statement or continuation statement.
- 9.9-709 Priority.
- 9.9-710 Duties of county clerk.
- 9.9-801 Effective date of statutory changes contained in 2012 Ky. Acts ch. 132.
- 9.9-802 Application.
- 9.9-803 Security interest perfected before effective date.
- 9.9-804 Security interest unperfected before effective date.
- 9.9-805 Effectiveness of action taken before effective date.
- 9.9-806 When initial financing statement suffices to continue effectiveness of financing statement.
- 9.9-807 Amendment of pre-effective-date financing statement.
- 9.9-808 Person entitled to file initial financing statement or continuation statement.
- 9.9-809 Priority.
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