Kentucky Statutes 286.10-265 – Release of security interest and lien
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Except as otherwise provided in KRS § 286.10-200 to KRS § 286.10-285 and KRS § 286.10-991, the pledgor, upon presentation of suitable identification shall be entitled to a release of the security interest and lien, if any are noted on the titled personal property or certificate of title described therein, upon satisfaction of all outstanding obligations in accordance with the title pledge agreement and KRS § 286.10-200 to KRS § 286.10-285 and KRS § 286.10-991. In addition, the power of attorney executed under KRS § 286.10-255, if any, shall be stamped “void”.
Effective: July 15, 1998
History: Created 1998 Ky. Acts ch. 242, sec. 14, effective July 15, 1998.
Formerly codified as KRS § 368.265
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.
Effective: July 15, 1998
Terms Used In Kentucky Statutes 286.10-265
- Lien: A claim against real or personal property in satisfaction of a debt.
- Personal property: All property that is not real property.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Statute: A law passed by a legislature.
History: Created 1998 Ky. Acts ch. 242, sec. 14, effective July 15, 1998.
Formerly codified as KRS § 368.265
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286, and KRS references within this statute have been adjusted to conform with the 2006 renumbering of that code.