2016 Kentucky Revised Statutes CHAPTER 355 - UNIFORM COMMERCIAL CODE Article 9 - Secured Transactions -- Sales of Accounts, Contract Rights, and Chattel Paper 355.9-210 Request for accounting -- Request regarding list of collateral or statement of account.
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355.9-210
Request for accounting -- Request regarding list of collateral or
statement of account.
(1)
(2)
(3)
(4)
(5)
In this section:
(a) "Request" means a record of a type described in paragraph (b), (c), or (d) of
this subsection.
(b) "Request for an accounting" means a record authenticated by a debtor
requesting that the recipient provide an accounting of the unpaid obligations
secured by collateral and reasonably identifying the transaction or relationship
that is the subject of the request.
(c) "Request regarding a list of collateral" means a record authenticated by a
debtor requesting that the recipient approve or correct a list of what the debtor
believes to be the collateral securing an obligation and reasonably identifying
the transaction or relationship that is the subject of the request.
(d) "Request regarding a statement of account" means a record authenticated by a
debtor requesting that the recipient approve or correct a statement indicating
what the debtor believes to be the aggregate amount of unpaid obligations
secured by collateral as of a specified date and reasonably identifying the
transaction or relationship that is the subject of the request.
Subject to subsections (3), (4), (5), and (6) of this section, a secured party, other
than a buyer of accounts, chattel paper, payment intangibles, or promissory notes or
a consignor, shall comply with a request within fourteen (14) days after receipt:
(a) In the case of a request for an accounting, by authenticating and sending to the
debtor an accounting; and
(b) In the case of a request regarding a list of collateral or a request regarding a
statement of account, by authenticating and sending to the debtor an approval
or correction.
A secured party that claims a security interest in all of a particular type of collateral
owned by the debtor may comply with a request regarding a list of collateral by
sending to the debtor an authenticated record including a statement to that effect
within fourteen (14) days after receipt.
A person that receives a request regarding a list of collateral, claims no interest in
the collateral when it receives the request, and claimed an interest in the collateral at
an earlier time shall comply with the request within fourteen (14) days after receipt
by sending to the debtor an authenticated record:
(a) Disclaiming any interest in the collateral; and
(b) If known to the recipient, providing the name and mailing address of any
assignee of or successor to the recipient's interest in the collateral.
A person that receives a request for an accounting or a request regarding a statement
of account, claims no interest in the obligations when it receives the request, and
claimed an interest in the obligations at an earlier time shall comply with the request
within fourteen (14) days after receipt by sending to the debtor an authenticated
record:
(a)
(b)
(6)
Disclaiming any interest in the obligations; and
If known to the recipient, providing the name and mailing address of any
assignee of or successor to the recipient's interest in the obligations.
A debtor is entitled without charge to one (1) response to a request under this
section during any six (6) month period. The secured party may require payment of
a charge not exceeding twenty-five dollars ($25) for each additional response.
Effective: July 1, 2001
History: Created 2000 Ky. Acts ch. 408, sec. 40, effective July 1, 2001.
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