Ky. Rev. Stat. § 355.12-102 (2026)

(1) In this article:

(a) 1. "Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under KRS 355.12-105.

2. The term does not include:

a. A controllable account;

b. A controllable payment intangible;

c. A deposit account;

d. An electronic copy of a record evidencing chattel paper;

e. An electronic document of title;

f. Electronic money;

g. Investment property; or

h. A transferable record;

(b) "Qualifying purchaser" means a purchaser of a controllable electronic record or an interest in a controllable electronic record that obtains control of the controllable electronic record for value, in good faith, and without notice of a claim of a property right in the controllable electronic record;

(c) "Transferable record" has the meaning provided for that term in:

1. The Electronic Signatures in Global and National Commerce Act, 15 U.S.C. sec. 7021, as amended; or

2. The Uniform Electronic Transactions Act, KRS 369.116; and

(d) "Value" has the meaning provided in KRS 355.3-303(1), as if references in that subsection to an "instrument" were references to a controllable account, controllable electronic record, or controllable payment intangible.

(2) The following definitions in Article 9 of this chapter apply to this article:

(a) "Account debtor";

(b) "Chattel paper";

(c) "Controllable account";

(d) "Controllable payment intangible";

(e) "Deposit account";

(f) "Electronic money"; and

(g) "Investment property."

(3) Article 1 of this chapter contains general definitions and principles of construction and interpretation applicable throughout this article. Effective: January 1, 2025 History: Created 2024 Ky. Acts ch. 10, sec. 95, effective January 1, 2025.