Section 355.9-NEW - [Newly enacted section not yet numbered] [Effective 1/1/2025]

Current through Acts Received April 24, 2024
Section 355.9-NEW - [Newly enacted section not yet numbered] [Effective 1/1/2025]
(1) Except as provided in subsection (2) of this section, the local law of the controllable electronic record's jurisdiction specified in subsections (3) and (4) of Section 100 of this Act governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable electronic record and a security interest in a controllable account or controllable payment intangible evidenced by the controllable electronic record
(2) The local law of the jurisdiction in which the debtor is located governs:
(a) Perfection of a security interest in a controllable account, controllable electronic record, or controllable payment intangible by filing; and
(b) Automatic perfection of a security interest in a controllable payment intangible created by a sale of the controllable payment intangible.
Added by 2024 Ky. Acts ch. TBD,§ 60, eff. 1/1/2025.