2016 Kentucky Revised Statutes CHAPTER 355 - UNIFORM COMMERCIAL CODE Article 9 - Secured Transactions -- Sales of Accounts, Contract Rights, and Chattel Paper 355.9-519 Numbering, maintaining, and indexing records -- Communicating information provided in records.
Download as PDF
355.9-519
Numbering, maintaining, and indexing records -- Communicating
information provided in records.
(1)
(2)
(3)
(4)
(5)
(6)
For each record filed in a filing office, the filing office shall:
(a) Assign a unique number to the filed record;
(b) Create a record that bears the number assigned to the filed record and the date
and time of filing;
(c) Maintain the filed record for public inspection; and
(d) Index the filed record in accordance with subsections (3), (4), and (5) of this
section.
A file number must include a digit that:
(a) Is mathematically derived from or related to the other digits of the file
number; and
(b) Aids the filing office in determining whether a number communicated as the
file number includes a single-digit or transpositional error.
Except as otherwise provided in subsections (4) and (5) of this section, the filing
office shall:
(a) Index an initial financing statement according to the name of the debtor and
index all filed records relating to the initial financing statement in a manner
that associates with one another an initial financing statement and all filed
records relating to the initial financing statement; and
(b) Index a record that provides a name of a debtor which was not previously
provided in the financing statement to which the record relates also according
to the name that was not previously provided.
If a financing statement is filed as a fixture filing or covers as-extracted collateral or
timber to be cut, the filing office shall index it:
(a) Under the names of the debtor and of each owner of record shown on the
financing statement as if they were the mortgagors under a mortgage of the
real property described; and
(b) To the extent that the law of this Commonwealth provides for indexing of
records of mortgages under the name of the mortgagee, under the name of the
secured party as if the secured party were the mortgagee thereunder, or, if
indexing is by description, as if the financing statement were a record of a
mortgage of the real property described.
If a financing statement is filed as a fixture filing or covers as-extracted collateral or
timber to be cut, the filing office shall index an assignment filed under KRS 355.9514(1) or an amendment filed under KRS 355.9-514(2):
(a) Under the name of the assignor as grantor; and
(b) To the extent that the law of this Commonwealth provides for indexing a
record of the assignment of a mortgage under the name of the assignee, under
the name of the assignee.
The filing office shall maintain a capability:
(a)
(7)
(8)
(9)
To retrieve a record by the name of the debtor and by the file number assigned
to the initial financing statement to which the record relates; and
(b) To associate and retrieve with one another an initial financing statement and
each filed record relating to the initial financing statement.
The filing office may not remove a debtor's name from the index until one (1) year
after the effectiveness of a financing statement naming the debtor lapses under KRS
355.9-515 with respect to all secured parties of record.
The filing office shall perform the acts required by subsections (1) to (5) of this
section at the time and in the manner prescribed by filing-office rule, but not later
than two (2) business days after the filing office receives the record in question.
Subsection (2) of this section does not apply to a filing office described in KRS
355.9-501(1)(a).
Effective: July 1, 2001
History: Created 2000 Ky. Acts ch. 408, sec. 110, effective July 1, 2001.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.