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2017 Kentucky Revised Statutes
CHAPTER 224 - ENVIRONMENTAL PROTECTION
Subchapter 80 - Environmental Covenants
224.80-190 Amendment or termination of environmental covenant by consent of the parties -- Assignment of holder's rights.

Universal Citation: KY Rev Stat § 224.80-190 (2017)
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224.80-190 Amendment or termination of environmental covenant by consent of the parties -- Assignment of holder's rights. (1) (2) (3) (4) (5) An environmental covenant may be amended or terminated by consent only if the amendment or termination is requested as a modification to the corrective action plan approved by the cabinet, and only if the amendment or termination is signed by: (a) The cabinet; (b) The current owner of the fee simple of the real property subject to the covenant; (c) Each person that originally signed the environmental covenant or that person's heirs, assigns, or transferees unless: 1. The person or the person's heirs, assigns, or transferees waived in a signed document the right to consent; or 2. A court finds that the person no longer exists or cannot be located or identified with the exercise of reasonable diligence; and (d) The holder, except as otherwise provided in subsection (4)(b) of this section. If an interest in real property is subject to an environmental covenant, the interest shall not be affected by an amendment of the environmental covenant unless: (a) The current owner of the interest consents to the amendment; or (b) The current owner of the interest has waived in a signed record the right to consent to the amendments. Except for an assignment undertaken pursuant to a governmental reorganization, assignment of an environmental covenant to a new holder shall be deemed an amendment of the environmental covenant. Except as otherwise provided in an environmental covenant: (a) A holder may not assign its interest without consent of the other parties to the environmental covenant specified in subsection (1) of this section; and (b) A holder may be removed and replaced by agreement of the other parties specified in subsection (1) of this section. A court of competent jurisdiction may fill a vacancy in the position of the holder. Effective: June 20, 2005 History: Created 2005 Ky. Acts ch. 92, sec. 10, effective June 20, 2005.
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