Kentucky Statutes 355.9-807 – Amendment of pre-effective-date financing statement
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(1) In this section, “pre-effective-date financing statement” means a financing statement filed before July 1, 2013.
(2) After July 1, 2013, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in this article as amended by KRS
355.9-801 to 355.9-809. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(3) Except as otherwise provided in subsection (4) of this section, if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after July 1, 2013, only if:
(a) The pre-effective-date financing statement and an amendment are filed in the office specified in KRS § 355.9-501;
(b) An amendment is filed in the office specified in KRS § 355.9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies KRS § 355.9-806(3); or
(c) An initial financing statement that provides the information as amended and satisfies KRS § 355.9-806(3) is filed in the office specified in KRS § 355.9-501.
(4) If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under KRS § 355.9-
805(3) and (5) or 355.9-806.
(5) Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after July 1, 2013, by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies KRS § 355.9-806(3) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in this article as amended by KRS § 355.9-801 to KRS § 355.9-809 as the office in which to file a financing statement.
Effective: July 1, 2013
History: Created 2012 Ky. Acts ch. 132, sec. 97, effective July 1, 2013.
Legislative Research Commission Note (3/14/2013). 2013 Ky. Acts ch. 10, secs. 2 and
3 provide that the statutes in Article 9 of the Uniform Commercial Code that were amended or created in 2012 Ky. Acts ch. 132, secs. 60 to 99, are effective July 1,
2013. This statute was one of those sections. Since only the effective date of a prior Act was altered, and not the text of the affected statutes, reference to 2013 Ky. Acts ch. 10 does not appear in the history for this statute.
(2) After July 1, 2013, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in this article as amended by KRS
Terms Used In Kentucky Statutes 355.9-807
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Statute: A law passed by a legislature.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
355.9-801 to 355.9-809. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(3) Except as otherwise provided in subsection (4) of this section, if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after July 1, 2013, only if:
(a) The pre-effective-date financing statement and an amendment are filed in the office specified in KRS § 355.9-501;
(b) An amendment is filed in the office specified in KRS § 355.9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies KRS § 355.9-806(3); or
(c) An initial financing statement that provides the information as amended and satisfies KRS § 355.9-806(3) is filed in the office specified in KRS § 355.9-501.
(4) If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under KRS § 355.9-
805(3) and (5) or 355.9-806.
(5) Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after July 1, 2013, by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies KRS § 355.9-806(3) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in this article as amended by KRS § 355.9-801 to KRS § 355.9-809 as the office in which to file a financing statement.
Effective: July 1, 2013
History: Created 2012 Ky. Acts ch. 132, sec. 97, effective July 1, 2013.
Legislative Research Commission Note (3/14/2013). 2013 Ky. Acts ch. 10, secs. 2 and
3 provide that the statutes in Article 9 of the Uniform Commercial Code that were amended or created in 2012 Ky. Acts ch. 132, secs. 60 to 99, are effective July 1,
2013. This statute was one of those sections. Since only the effective date of a prior Act was altered, and not the text of the affected statutes, reference to 2013 Ky. Acts ch. 10 does not appear in the history for this statute.