Part 1. Short Title -- Construction, Application, and Subject Matter of This Chapter
Part 2. General Definitions and Principles of Interpretation
Part 3. Applicability and General Rules
Part 1. Short Title -- General Construction and Subject Matter
Part 2. Form, Formation and Readjustment of Contract
.2-201 Formal requirements -- Statute of frauds. (Effective until January 1, 2025)
.2-201 Formal requirements -- Statute of frauds. (Effective January 1, 2025)
.2-202 Final expression -- Parol or extrinsic evidence. (Effective January 1, 2025)
.2-202 Final written expression -- Parol or extrinsic evidence. (Effective until January 1, 2025)
.2-203 Seals inoperative. (Effective until January 1, 2025)
.2-203 Seals inoperative. (Effective January 1, 2025)
.2-204 Formation in general.
.2-205 Firm offers. (Effective until January 1, 2025)
.2-205 Firm offers. (Effective January 1, 2025)
.2-206 Offer and acceptance in formation of contract.
.2-207 Additional terms in acceptance or confirmation.
.2-208 Repealed, 2006.
.2-209 Modification, rescission and waiver. (Effective until January 1, 2025)
.2-209 Modification, rescission, and waiver. (Effective January 1, 2025)
.2-210 Delegation of performance -- Assignment of rights.
Part 3. General Obligation and Construction of Contract
Part 4. Title, Creditors and Good Faith Purchasers
Part 5. Performance
Part 6. Breach, Repudiation, and Excuse
Part 7. Remedies
Part 1. General Provisions.
Part 2. Formation and Construction of Lease Contract
.2A-201 Statute of frauds. (Effective until January 1, 2025)
.2A-201 Statute of frauds. (Effective January 1, 2025)
.2A-202 Final expression -- Parol or extrinsic evidence. (Effective January 1, 2025)
.2A-202 Final written expression -- Parol or extrinsic evidence. (Effective until January 1, 2025)
.2A-203 Seals inoperative. (Effective until January 1, 2025)
.2A-203 Seals inoperative. (Effective January 1, 2025)
.2A-204 Formation in general.
.2A-205 Firm offers. (Effective until January 1, 2025)
.2A-205 Firm offers. (Effective January 1, 2025)
.2A-206 Offer and acceptance in formation of lease contract.
.2A-207 Repealed, 2006.
.2A-208 Modification, rescission and waiver. (Effective until January 1, 2025)
.2A-208 Modification, rescission, and waiver. (Effective January 1, 2025)
.2A-209 Lessee under finance lease as beneficiary of supply contract.
.2A-210 Express warranties.
.2A-211 Warranties against interference and against infringement -- Lessee's obligation against infringement.
.2A-212 Implied warranty of merchantability.
.2A-213 Implied warranty of fitness for particular purpose.
.2A-214 Exclusion or modification of warranties.
.2A-215 Cumulation and conflict of warranties express or implied.
.2A-216 Third-party beneficiaries of express and implied warranties.
.2A-217 Identification.
.2A-218 Insurance and proceeds.
.2A-219 Risk of loss.
.2A-220 Effect of default on risk of loss.
.2A-221 Casualty to identified goods.
Part 3. Effect of Lease Contract
Part 4. Performance of Lease Contract: Repudiated, Substituted, and Excused
Part 5. Default
A. In General
B. Default by Lessor
C. Default by Lessee
Part 1. General Provisions and Definitions
Part 2. Negotiation, Transfer, and Indorsement
Part 3. Enforcement of Instruments
Part 4. Liability of Parties
Part 5. Dishonor
Part 6. Discharge and Payment
Part 7. Advice of International Sight Draft
Part 8. Miscellaneous
.3-801 Repealed, 1998, retroactive to January 1, 1997.
.3-802 Repealed, 1998, retroactive to January 1, 1997.
.3-803 Repealed, 1998, retroactive to January 1, 1997.
.3-804 Repealed, 1998, retroactive to January 1, 1997.
.3-805 Repealed, 1998, retroactive to January 1, 1997.
Part 1. General Provisions and Definitions
Part 2. Collection of Items: Depositary and Collecting Banks
Part 3. Collection of Items: Payor Banks
Part 4. Relationship Between Payor Bank and Its Customer
Part 5. Collection of Documentary Drafts
Part 1. Subject Matter and Definitions
Part 2. Issue and Acceptance of Payment Order
.4A-201 Security procedure. (Effective until January 1, 2025)
.4A-201 Security procedure. (Effective January 1, 2025)
.4A-202 Authorized and verified payment orders. (Effective January 1, 2025)
.4A-202 Authorized and verified payment orders. (Effective until January 1, 2025)
.4A-203 Unenforceability of certain verified payment orders. (Effective until January 1, 2025)
.4A-203 Unenforceability of certain verified payment orders. (Effective January 1, 2025)
.4A-204 Refund of payment and duty of customer to report with respect to unauthorized payment order.
.4A-205 Erroneous payment orders.
.4A-206 Transmission of payment order through funds -- Transfer or other communication system.
.4A-207 Misdescription of beneficiary. (Effective until January 1, 2025)
.4A-207 Misdescription of beneficiary. (Effective January 1, 2025)
.4A-208 Misdescription of intermediary bank or beneficiary's bank. (Effective January 1, 2025)
.4A-208 Misdescription of intermediary bank or beneficiary's bank. (Effective until January 1, 2025)
.4A-209 Acceptance of payment order.
.4A-210 Rejection of payment order. (Effective until January 1, 2025)
.4A-210 Rejection of payment order. (Effective January 1, 2025)
.4A-211 Cancellation and amendment of payment order. (Effective January 1, 2025)
.4A-211 Cancellation and amendment of payment order. (Effective until January 1, 2025)
.4A-212 Liability and duty of receiving bank regarding unaccepted payment order.
Part 3. Execution of Sender's Payment Order by Receiving Bank
Part 4. Payment
Part 5. Miscellaneous Provisions
.4A-501 Variation by agreement and effect of funds-transfer system rule.
.4A-502 Creditor process served on receiving bank -- Set - off by beneficiary's bank.
.4A-503 Injunction or restraining order with respect to funds transfer.
.4A-504 Order in which items and payment orders may be charged to account -- Order of withdrawals from account.
.4A-505 Preclusion of objection to debit of customer's account.
.4A-506 Rate of interest.
.4A-507 Choice of law.
.5-101 Short title.
.5-102 Definitions.
.5-103 Scope.
.5-104 Formal requirements. (Effective until January 1, 2025)
.5-104 Formal requirements. (Effective January 1, 2025)
.5-105 Consideration.
.5-106 Issuance, amendment, cancellation, and duration.
.5-107 Confirmer, nominated person, and adviser.
.5-108 Issuer's rights and obligations.
.5-109 Fraud and forgery.
.5-110 Warranties.
.5-111 Remedies.
.5-112 Transfer of letter of credit.
.5-113 Transfer by operation of law.
.5-114 Assignment of proceeds.
.5-115 Statute of limitations.
.5-116 Choice of law and forum. (Effective until January 1, 2025)
.5-116 Choice of law and forum. (Effective January 1, 2025)
.5-117 Subrogation of issuer, applicant, and nominated person.
.5-118 Security interest of issuer or nominated person.
.6-101 Repealed, 1992.
.6-102 Repealed, 1992.
.6-103 Repealed, 1992.
.6-104 Repealed, 1992.
.6-105 Repealed, 1992.
.6-106 Repealed, 1992.
.6-107 Repealed, 1992.
.6-108 Repealed, 1992.
.6-109 Repealed, 1992.
.6-110 Repealed, 1994.
.6-111 Repealed, 1992.
Part 1. General
Part 2. Warehouse Receipts: Special Provisions
Part 3. Bills of Lading: Special Provisions
Part 4. Warehouse Receipts and Bills of Lading: General Obligations
Part 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer
Part 6. Warehouse Receipts and Bills of Lading: Miscellaneous Provisions
Part 1. Short Title and General Matters
.8-101 Short title.
.8-102 Definitions. (Effective until January 1, 2025)
.8-102 Definitions and index of definitions. (Effective January 1, 2025)
.8-103 Rules for determining whether certain obligations and interests are securities or financial assets. (Effective January 1, 2025)
.8-103 Rules for determining whether certain obligations and interests are securities or financial assets. (Effective until January 1, 2025)
.8-104 Acquisition of security or financial asset or interest therein.
.8-105 Notice of adverse claim.
.8-106 Control. (Effective until January 1, 2025)
.8-106 Control. (Effective January 1, 2025)
.8-107 Whether indorsement, instruction, or entitlement order is effective.
.8-108 Warranties in direct holding.
.8-109 Warranties in indirect holding.
.8-110 Applicability -- Choice of law. (Effective until January 1, 2025)
.8-110 Applicability -- Choice of law. (Effective January 1, 2025)
.8-111 Clearing corporation rules.
.8-112 Creditor's legal process.
.8-113 Statute of frauds inapplicable.
.8-114 Evidentiary rules concerning certificated securities.
.8-115 Securities intermediary and others not liable to adverse claimant.
.8-116 Securities intermediary as purchaser for value.
Part 2. Issue and Issuer
Part 3. Transfer of Certificated and Uncertificated Securities
.8-301 Delivery.
.8-302 Rights of purchaser.
.8-303 Protected purchaser. (Effective until January 1, 2025)
.8-303 Protected purchaser. (Effective January 1, 2025)
.8-304 Indorsement.
.8-305 Instruction.
.8-306 Effect of guaranteeing signature, indorsement, or instruction.
.8-307 Purchaser's right to requisites for registration of transfer.
.8-308 Repealed, 1997.
.8-309 Repealed, 1997.
.8-310 Repealed, 1997.
.8-311 Repealed, 1997.
.8-312 Repealed, 1997.
.8-313 Repealed, 1997.
.8-314 Repealed, 1997.
.8-315 Repealed, 1997.
.8-316 Repealed, 1997.
.8-317 Repealed, 1997.
.8-318 Repealed, 1997.
.8-319 Repealed, 1997.
.8-320 Repealed, 1997.
.8-321 Repealed, 1997.
Part 4. Registration
Part 5. Security Entitlements
Part 1. General Provisions Subpart 1. Short Title, Definitions, and General Concepts
.9-101 Short title.
.9-102 Definitions and index of definitions. (Effective until January 1, 2025)
.9-102 Definitions and index of definitions. (Effective January 1, 2025)
.9-103 Purchase-money security interest -- Application of payments -- Burden of establishing.
.9-104 Control of deposit account. (Effective until January 1, 2025)
.9-104 Control of deposit account. (Effective January 1, 2025)
.9-105 Control of electronic copy of record evidencing chattel paper. (Effective January 1, 2025)
.9-105 Control of electronic chattel paper. (Effective until January 1, 2025)
.9-1051 Control of electronic money. (Effective January 1, 2025)
.9-106 Control of investment property.
.9-107 Control of letter-of-credit right.
.9-1071 Control of controllable electronic record, controllable account, or controllable payment intangible. (Effective January 1, 2025)
.9-1072 No requirement to acknowledge or confirm -- No duties. (Effective January 1, 2025)
.9-108 Sufficiency of description.
Subpart 2. Applicability of Article
Part 2. Effectiveness of Security Agreement -- Attachment of Security Interest -- Rights of Parties to Security Agreement Subpart 1. Effectiveness and Attachment
Subpart 2. Rights and Duties
Part 3. Perfection and Priority Subpart 1. Law Governing Perfection and Priority
.9-301 Law governing perfection and priority of security interests. (Effective January 1, 2025)
.9-301 Law governing perfection and priority of security interests. (Effective until January 1, 2025)
.9-302 Law governing perfection and priority of agricultural liens.
.9-303 Law governing perfection and priority of security interests in goods covered by a certificate of title.
.9-304 Law governing perfection and priority of security interests in deposit accounts. (Effective until January 1, 2025)
.9-304 Law governing perfection and priority of security interests in deposit accounts. (Effective January 1, 2025)
.9-305 Law governing perfection and priority of security interests in investment property. (Effective January 1, 2025)
.9-305 Law governing perfection and priority of security interests in investment property. (Effective until January 1, 2025)
.9-306 Law governing perfection and priority of security interests in letter-of-credit rights.
.9-3061 Law governing perfection and priority of security interests in chattel paper. (Effective January 1, 2025)
.9-3062 Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles. (Effective January 1, 2025)
.9-307 Location of debtor.
Subpart 2. Perfection
.9-308 When security interest or agricultural lien is perfected -- Continuity of perfection.
.9-309 Security interest perfected upon attachment.
.9-310 When filing required to perfect security interest or agricultural lien -- Security interests and agricultural liens to which filing provisions do not apply. (Effective until January 1, 2025)
.9-310 When filing required to perfect security interest or agricultural lien -- Security interests and agricultural liens to which filing provisions do not apply. (Effective January 1, 2025)
.9-311 Perfection of security interests in property subject to certain statutes, regulations, and treaties.
.9-312 Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money -- Perfection by permissive filing -- Temporary perfection without filing or transfer of possession. (Effective until January 1, 2025)
.9-312 Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, negotiable documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money -- Perfection by permissive filing -- Temporary perfection without filing or transfer of possession. (Effective January 1, 2025)
.9-313 When possession by or delivery to secured party perfects security interest without filing. (Effective January 1, 2025)
.9-313 When possession by or delivery to secured party perfects security interest without filing. (Effective until January 1, 2025)
.9-314 Perfection by control. (Effective until January 1, 2025)
.9-314 Perfection by control. (Effective January 1, 2025)
.9-3141 Perfection by possession and control of chattel paper. (Effective January 1, 2025)
.9-315 Secured party's rights on disposition of collateral and in proceeds.
.9-316 Continued perfection of security interest following change in governing law. (Effective January 1, 2025)
.9-316 Continued perfection of security interest following change in governing law. (Effective until January 1, 2025)
Subpart 3. Priority
.9-317 Interests that take priority over or take free of security interest or agricultural lien. (Effective until January 1, 2025)
.9-317 Interests that take priority over or take free of security interest or agricultural lien. (Effective January 1, 2025)
.9-318 No interest retained in right to payment that is sold -- Rights and title of seller of account or chattel paper with respect to creditors and purchasers.
.9-319 Rights and title of consignee with respect to creditors and purchasers.
.9-320 Buyer of goods.
.9-321 Licensee of general intangible and lessee of goods in ordinary course of business.
.9-322 Priorities among conflicting security interests in and agricultural liens on same collateral.
.9-323 Future advances. (Effective until January 1, 2025)
.9-323 Future advances. (Effective January 1, 2025)
.9-324 Priority of purchase-money security interests. (Effective January 1, 2025)
.9-324 Priority of purchase-money security interests. (Effective until January 1, 2025)
.9-325 Priority of security interests in transferred collateral.
.9-326 Priority of security interests created by new debtor.
.9-3261 Priority of security interest in controllable account, controllable electronic record, and controllable payment intangible. (Effective January 1, 2025)
.9-327 Priority of security interests in deposit account.
.9-328 Priority of security interests in investment property.
.9-329 Priority of security interests in letter-of-credit right.
.9-330 Priority of purchaser of chattel paper or instrument. (Effective until January 1, 2025)
.9-330 Priority of purchaser of chattel paper or instrument. (Effective January 1, 2025)
.9-331 Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment tangibles, documents, instruments, and securities under other articles -- Priority of interests in financial assets and security entitlements and protection against assertion of claim under Articles 8 and 12. (Effective January 1, 2025)
.9-331 Priority of rights of purchasers of instruments, documents, and securities under other articles -- Priority of interests in financial assets and security entitlements under Article 8. (Effective until January 1, 2025)
.9-332 Transfer of money -- Transfer of funds from deposit account. (Effective until January 1, 2025)
.9-332 Transfer of money -- Transfer of funds from deposit account. (Effective January 1, 2025)
.9-333 Priority of certain liens arising by operation of law.
.9-334 Priority of security interests in fixtures and crops. (Effective until January 1, 2025)
.9-334 Priority of security interests in fixtures and crops. (Effective January 1, 2025)
.9-335 Accessions.
.9-336 Commingled goods.
.9-337 Priority of security interests in goods covered by certificate of title.
.9-338 Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.
.9-339 Priority subject to subordination.
Subpart 4. Rights of Bank
Part 4. Rights of Third Parties
.9-401 Alienability of debtor's rights.
.9-401A Repealed, 2000.
.9-402 Secured party not obligated on contract of debtor or in tort.
.9-403 Agreement not to assert defenses against assignee.
.9-404 Rights acquired by assignee -- Claims and defenses against assignee. (Effective until January 1, 2025)
.9-404 Rights acquired by assignee -- Claims and defenses against assignee. (Effective January 1, 2025)
.9-405 Modification of assigned contract.
.9-406 Discharge of account debtor -- Notification of assignment -- Identification and proof of assignment -- Restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective. (Effective until January 1, 2025)
.9-406 Discharge of account debtor -- Notification of assignment -- Identification and proof of assignment -- Restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective. (Effective January 1, 2025)
.9-407 Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest.
.9-408 Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective. (Effective January 1, 2025)
.9-408 Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective. (Effective until January 1, 2025)
.9-409 Restrictions on assignment of letter-of-credit rights ineffective.
Part 5. Filing Subpart 1. Filing Office -- Contents and Effectiveness of Financing Statement
Subpart 2. Duties and Operation of Filing Office
Part 6. Default Subpart 1. Default and Enforcement of Security Interest
.9-601 Rights after default -- Judicial enforcement -- Consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes. (Effective until January 1, 2025)
.9-601 Rights after default -- Judicial enforcement -- Consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes. (Effective January 1, 2025)
.9-602 Waiver and variance of rights and duties.
.9-603 Agreement on standards concerning rights and duties.
.9-604 Procedure if security agreement covers real property or fixtures.
.9-605 Unknown debtor or secondary obligor. (Effective until January 1, 2025)
.9-605 Unknown debtor or secondary obligor. (Effective January 1, 2025)
.9-606 Time of default for agricultural lien.
.9-607 Collection and enforcement by secured party.
.9-608 Application of proceeds of collection or enforcement -- Liability for deficiency and right to surplus. (Effective until January 1, 2025)
.9-608 Application of proceeds of collection or enforcement -- Liability for deficiency and right to surplus. (Effective January 1, 2025)
.9-609 Secured party's right to take possession after default.
.9-610 Disposition of collateral after default.
.9-611 Notification before disposition of collateral. (Effective until January 1, 2025)
.9-611 Notification before disposition of collateral. (Effective January 1, 2025)
.9-612 Timeliness of notification before disposition of collateral.
.9-613 Contents and form of notification before disposition of collateral: General. (Effective until January 1, 2025)
.9-613 Contents and form of notification before disposition of collateral: General. (Effective January 1, 2025)
.9-614 Contents and form of notification before disposition of collateral: Consumer-goods transaction. (Effective January 1, 2025)
.9-614 Contents and form of notification before disposition of collateral: Consumer-goods transaction. (Effective until January 1, 2025)
.9-615 Application of proceeds of disposition -- Liability for deficiency and right to surplus. (Effective until January 1, 2025)
.9-615 Application of proceeds of disposition -- Liability for deficiency and right to surplus. (Effective January 1, 2025)
.9-616 Explanation of calculation of surplus or deficiency. (Effective January 1, 2025)
.9-616 Explanation of calculation of surplus or deficiency. (Effective until January 1, 2025)
.9-617 Rights of transferee of collateral.
.9-618 Rights and duties of certain secondary obligors.
.9-619 Transfer of record or legal title. (Effective until January 1, 2025)
.9-619 Transfer of record or legal title. (Effective January 1, 2025)
.9-620 Acceptance of collateral in full or partial satisfaction of obligation -- Compulsory disposition of collateral. (Effective January 1, 2025)
.9-620 Acceptance of collateral in full or partial satisfaction of obligation -- Compulsory disposition of collateral. (Effective until January 1, 2025)
.9-621 Notification of proposal to accept collateral. (Effective until January 1, 2025)
.9-621 Notification of proposal to accept collateral. (Effective January 1, 2025)
.9-622 Effect of acceptance of collateral.
.9-623 Right to redeem collateral.
.9-624 Waiver. (Effective until January 1, 2025)
.9-624 Waiver. (Effective January 1, 2025)
Subpart 2. Noncompliance with Article
Part 7. Transition
CHAPTER 355
Part 8. Transition Provisions for 2012 Amendments
.9-801 Effective date of statutory changes contained in 2012 Ky. Acts ch. 132.
.9-802 Application.
.9-803 Security interest perfected before effective date.
.9-804 Security interest unperfected before effective date.
.9-805 Effectiveness of action taken before effective date.
.9-806 When initial financing statement suffices to continue effectiveness of financing statement.
.9-807 Amendment of pre-effective-date financing statement.
.9-808 Person entitled to file initial financing statement or continuation statement.
.9-809 Priority.
.10-101 Provision for transition.
.10-102 Laws not repealed.
.11-011 Short title. (Effective January 1, 2025)
.11-012 Definitions. (Effective January 1, 2025)
.11-021 General transactional provision -- Savings clause. (Effective January 1, 2025)
.11-031 Savings clause. (Effective January 1, 2025)
.11-032 Security interest perfected before January 1, 2025. (Effective January 1, 2025)
.11-033 Security interest unperfected before January 1, 2025. (Effective January 1, 2025)
.11-034 Effectiveness of actions taken before January 1, 2025. (Effective January 1, 2025)
.11-035 Priority. (Effective January 1, 2025)
.11-036 Priority of claims when priority rules of Article 9 do not apply. (Effective January 1, 2025)
.11-102 Repealed, 2001.
.11-103 Repealed, 2001.
.11-104 Repealed, 2001.
.11-105 Repealed, 2001.
.11-106 Repealed, 2001.
.11-107 Repealed, 2001.
.11-108 Repealed, 2001.
.12-101 Short title. (Effective January 1, 2025)
.12-102 Definitions. (Effective January 1, 2025)
.12-103 Relation to Article 9 and consumer laws. (Effective January 1, 2025)
.12-104 Rights in controllable account, controllable electronic record, and controllable payment intangible. (Effective January 1, 2025)
.12-105 Control of controllable electronic record. (Effective January 1, 2025)
.12-106 Discharge of account debtor on controllable account or controllable payment intangible. (Effective January 1, 2025)
.12-107 Governing law. (Effective January 1, 2025)