| Last Action | returned to Agriculture & Small Business (H) |
|---|---|
| Title | AN ACT relating to agriculture. |
| Bill Documents |
Bill
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| Bill Request Number | 1026 |
| Sponsor | D. Givens |
| Summary of Original Version | Create new sections of KRS Chapter 376 to establish a livestock seller's lien in favor of a livestock seller when the seller does not receive payment for the livestock within three days of delivery; describe the property of the lien to which the lien attaches; deem the lien a purchase money security interest; declare the lien effective the day the livestock is delivered; provide that the lien is perfected by filing a financing statement within 45 days, or within 20 days to have purchase money security interest priority; establish priority consistent with Article 9 of the Uniform Commercial Code and a pro rata share in the same collateral for multiple lien holders; allow a buyer in the ordinary course of business to take free of the lien; allow enforcement of the lien according to Part 6 of the Uniform Commercial Code. |
| Index Headings of Original Version |
Liens - Livestock seller's lien, creation of and priority Secretary of State - Filings, financing statement, livestock seller's lien Agriculture - Livestock seller's lien Animals, Livestock, and Poultry - Livestock seller's lien Banks and Financial Institutions - Livestock seller's lien, creation of and priority |
| Proposed Amendments | Senate Committee Substitute 1 |
| Votes | Vote History |
| 01/10/12 |
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| 01/11/12 |
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| 01/26/12 |
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| 01/27/12 |
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| 01/30/12 |
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| 01/31/12 |
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| 02/01/12 |
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| 02/02/12 |
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| 03/26/12 |
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| Amendment | Senate Committee Substitute 1 |
|---|---|
| Summary | Retain original provisions, except add definition of "livestock" to new section of KRS Chapter 376; amend KRS 322.9-102 to provide that a livestock seller's lien is within the definition of "agricultural lien" under Article 9 of the Uniform Commercial Code. |
| Index Headings |
Liens - Livestock seller's lien, creation of and priority Secretary of State - Filings, financing statement, livestock seller's lien Agriculture - Livestock seller's lien Animals, Livestock, and Poultry - Livestock seller's lien Banks and Financial Institutions - Livestock seller's lien, creation of and priority |
Last updated: 8/27/2019 8:05 PM (EDT)