Kentucky Statutes 355.9-709 – Priority
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(1) The revision of Article 9 in 2000 Ky. Acts ch. 408 determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, the former Article 9 of this chapter determines priority.
(2) For purposes of KRS § 355.9-322(1), the priority of a security interest that becomes enforceable under KRS § 355.9-203 dates from July 1, 2001, if the security interest is perfected under the revision of Article 9 in 2000 Ky. Acts ch. 408 by the filing of a financing statement before July 1, 2001, which would not have been effective to perfect the security interest under the former Article 9 of this chapter. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.
Effective: July 1, 2001
History: Created 2000 Ky. Acts ch. 408, sec. 155, effective July 1, 2001.
(2) For purposes of KRS § 355.9-322(1), the priority of a security interest that becomes enforceable under KRS § 355.9-203 dates from July 1, 2001, if the security interest is perfected under the revision of Article 9 in 2000 Ky. Acts ch. 408 by the filing of a financing statement before July 1, 2001, which would not have been effective to perfect the security interest under the former Article 9 of this chapter. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.
Effective: July 1, 2001
History: Created 2000 Ky. Acts ch. 408, sec. 155, effective July 1, 2001.