Section 355.9-605 - [Effective 1/1/2025] Unknown debtor or secondary obligor(1) Except as provided in subsection (2) of this section, a secured party does not owe a duty based on its status as secured party:(a) To a person that is a debtor or obligor, unless the secured party knows: 1. That the person is a debtor or obligor;2. The identity of the person; and3. How to communicate with the person; or(b) To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:1. That the person is a debtor; and2. The identity of the person.(2) A secured party owes a duty based on its status as a secured party to a person if, at the time the secured party obtains control of collateral that is a controllable account, controllable electronic record, or controllable payment intangible or at the time the security interest attaches to the collateral, whichever is later: (a) The person is a debtor or obligor; and (b) The secured party knows that the information in subsection (1)(a)1., 2., or 3. of this section relating to the person is not provided by the collateral, a record attached to or logically associated with the collateral, or the system in which the collateral is recorded Amended by 2024 Ky. Acts ch. 10,§ 82, eff. 1/1/2025.Effective:7/1/2001
Created 2000, Ky. Acts ch. 408, sec. 123, effective7/1/2001.This section is set out more than once due to postponed, multiple, or conflicting amendments.