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355.9-509 Persons entitled to file a record.
(1)
(2)
(3)
(4)
(5)
A person may file an initial financing statement, amendment that adds collateral
covered by a financing statement, or amendment that adds a debtor to a financing
statement only if:
(a) The debtor authorizes the filing in an authenticated record or pursuant to
subsection (1) or (2) of this section; or
(b) The person holds an agricultural lien that has become effective at the time of
filing and the financing statement covers only collateral in which the person
holds an agricultural lien.
By authenticating or becoming bound as debtor by a security agreement, a debtor or
new debtor authorizes the filing of an initial financing statement, and an
amendment, covering:
(a) The collateral described in the security agreement; and
(b) Property that becomes collateral under KRS 355.9-315(1)(b), whether or not
the security agreement expressly covers proceeds.
By acquiring collateral in which a security interest or agricultural lien continues
under KRS 355.9-315(1)(a), a debtor authorizes the filing of an initial financing
statement, and an amendment, covering the collateral and property that becomes
collateral under KRS 355.9-315(1)(b).
A person may file an amendment other than an amendment that adds collateral
covered by a financing statement or an amendment that adds a debtor to a financing
statement only if:
(a) The secured party of record authorizes the filing; or
(b) The amendment is a termination statement for a financing statement as to
which the secured party of record has failed to file or send a termination
statement as required by KRS 355.9-513(1) or (3), the debtor authorizes the
filing, and the termination statement indicates that the debtor authorized it to
be filed.
If there is more than one (1) secured party of record for a financing statement, each
secured party of record may authorize the filing of an amendment under subsection
(4) of this section.
Effective: July 1, 2001
History: Created 2000 Ky. Acts ch. 408, sec. 100, effective July 1, 2001.
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