2016 Kentucky Revised Statutes
CHAPTER 355 - UNIFORM COMMERCIAL CODE
Article 9 - Secured Transactions -- Sales of Accounts, Contract Rights, and Chattel Paper
355.9-333 Priority of certain liens arising by operation of law.

Download as PDF 355.9-333 Priority of certain liens arising by operation of law. (1) (2) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien: (a) Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business; (b) Which is created by statute or rule of law in favor of the person; and (c) Whose effectiveness depends on the person's possession of the goods. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise. Effective: July 1, 2001 History: Created 2000 Ky. Acts ch. 408, sec. 73, effective July 1, 2001.