Kentucky Statutes 355.9-319 – Rights and title of consignee with respect to creditors and purchasers
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(1) Except as otherwise provided in subsection (2) of this section, for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights and title to the goods identical to those the consignor had or had power to transfer.
(2) For purposes of determining the rights of a creditor of a consignee, law other than this article determines the rights and title of a consignee while goods are in the consignee’s possession if, under this part of this article, a perfected security interest held by the consignor would have priority over the rights of the creditor.
Effective: July 1, 2001
History: Repealed and reenacted 2000 Ky. Acts ch. 408, sec. 59, effective July 1, 2001.
— Created 1976 Ky. Acts ch. 90, sec. 1, effective June 19, 1976.
(2) For purposes of determining the rights of a creditor of a consignee, law other than this article determines the rights and title of a consignee while goods are in the consignee’s possession if, under this part of this article, a perfected security interest held by the consignor would have priority over the rights of the creditor.
Effective: July 1, 2001
History: Repealed and reenacted 2000 Ky. Acts ch. 408, sec. 59, effective July 1, 2001.
— Created 1976 Ky. Acts ch. 90, sec. 1, effective June 19, 1976.