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355.9-803 Security interest perfected before effective date.
(1)
(2)
A security interest that is a perfected security interest immediately before July 1,
2013, is a perfected security interest under Article 9 as amended by KRS 355.9-801
to 355.9-809 if, on or after July 1, 2013, the applicable requirements for attachment
and perfection under Article 9 as amended by KRS 355.9-801 to 355.9-809 are
satisfied without further action.
Except as otherwise provided in KRS 355.9-805, if, immediately before July 1,
2013, a security interest is a perfected security interest, but the applicable
requirements for perfection under this article as amended by KRS 355.9-801 to
355.9-809, are not satisfied on July 1, 2013, the security interest remains perfected
thereafter only if the applicable requirements for perfection under this article, as
amended by KRS 355.9-801 to 355.9-809, are satisfied within one (1) year after
July 1, 2013.
Effective: July 1, 2013
History: Created 2012 Ky. Acts ch. 132, sec. 93, effective July 1, 2013.
Legislative Research Commission Note (3/14/2013). 2013 Ky. Acts ch. 10, secs. 2 and
3 provide that the statutes in Article 9 of the Uniform Commercial Code that were
amended or created in 2012 Ky. Acts ch. 132, secs. 60 to 99, are effective July 1,
2013. This statute was one of those sections. Since only the effective date of a prior
Act was altered, and not the text of the affected statutes, reference to 2013 Ky. Acts
ch. 10 does not appear in the history for this statute.
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