Before a party possessing a security interest or lien against an equine interest that has been sold without the debt to the party being discharged may bring an action against the purchaser or selling agent of the equine interest, the secured party shall pursue a remedy against the debtor to the point where a judgment is rendered on the merits or the suit is dismissed with prejudice.
Effective: July 1, 2001

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Terms Used In Kentucky Statutes 413.242

  • Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
  • Lien: A claim against real or personal property in satisfaction of a debt.

History: Created 2000 Ky. Acts ch. 408, sec. 184, effective July 1, 2001.