Kentucky Statutes 378A.100 – Governing law
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(1) In this section, the following rules determine a debtor‘s location:
(a) A debtor who is an individual is located at the individual’s principal residence; (b) A debtor that is an organization and has only one (1) place of business is
located at its place of business; and
(c) A debtor that is an organization and has more than one (1) place of business is located at its chief executive office.
(2) A claim for relief in the nature of a claim for relief under this chapter is governed by the local laws of the jurisdiction in which the debtor is located when the transfer is made or the obligation is incurred.
Effective: January 1, 2016
History: Created 2015 Ky. Acts ch. 37, sec. 10, effective January 1, 2016.
(a) A debtor who is an individual is located at the individual’s principal residence; (b) A debtor that is an organization and has only one (1) place of business is
Terms Used In Kentucky Statutes 378A.100
- claim for relief: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, undisputed, legal, equitable, secure, or unsecured. See Kentucky Statutes 378A.010
- Debtor: means a person that is liable on a claim. See Kentucky Statutes 378A.010
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Organization: means a person other than an individual. See Kentucky Statutes 378A.010
- Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, license, and creation of a lien or other encumbrance. See Kentucky Statutes 378A.010
located at its place of business; and
(c) A debtor that is an organization and has more than one (1) place of business is located at its chief executive office.
(2) A claim for relief in the nature of a claim for relief under this chapter is governed by the local laws of the jurisdiction in which the debtor is located when the transfer is made or the obligation is incurred.
Effective: January 1, 2016
History: Created 2015 Ky. Acts ch. 37, sec. 10, effective January 1, 2016.