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KRS 355.9-803

Security interest perfected before effective date

Known as the Uniform Commercial Code

The act spans §§ 355.10-101 to 355.9-809 (686 sections).

Effective: July 1, 2013 History: Created 2012 Ky

(1) 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.

(2) 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.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.