Ky. Rev. Stat. » Chapter 355
Kentucky Revised Statutes

Ky. Rev. Stat. § 355.3-201 (2026)

Negotiation

✓ current as of May 2026
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(1) "Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.

(2) Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone. Effective: January 1, 1997 History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 20, effective January 1, 1997. -- Created 1958 Ky. Acts ch. 77, sec. 3-201, effective July 1, 1960.

Notes of Decisions
Cited in 11 cases (3 in the last 5 years), 1993–2021 · leading case: Acuff v. Wells Fargo Bank, N.A., 460 S.W.3d 335 (Ky. Ct. App. 2014).
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Acuff v. Wells Fargo Bank, N.A., 460 S.W.3d 335 (Ky. Ct. App. 2014). · cites it 3× “The master commissioner herein correctly observed that “[w]hen endorsed in blank, an instrument becomes payable to bearer and may be negotiated by transfer of possession alone until specifically endorsed.”
Stevenson v. Bank of Am., 359 S.W.3d 466 (Ky. Ct. App. 2011). “8 Pursuant to KRS 355.3-201(2), “negotiation” means “a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.”
Rogan v. Vanderbilt Mortg. & Fin., Inc. (In re Dorsey), 491 B.R. 464 (Bankr. E.D. Ky. 2013). · cites it 2× “” Ky.Rev.Stat. Ann. § 355.3-201(2) (emphasis supplied).”
Cole v. Warren Cnty., 495 S.W.3d 712 (Ky. Ct. App. 2015). “” KRS 355.3-201(2) states: “[ejxcept for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder.”
J.P. Morgan Delaware v. Onyx Arabians II, Ltd., 825 F. Supp. 146 (W.D. Ky. 1993). · cites it 3× “When Lasma II assigned its rights to Morgan, the right to Lasma I’s endorsement necessarily passed to Morgan. KRS 355.”
Raichel v. Raichel, 65 S.W.3d 497 (Ky. 2001). · cites it 2× “Banks and Banking § 269 (1996) as "a sum of money left with a bank and the depositor as the person who leaves it there.” . (4) If an instrument is payable to two (2) or more persons alternatively, it is payable to any of them and may be negotiated, discharged, or enforced by any…”
Allyn D. Moore v. Citimortgage, Inc. (Ky. Ct. App. 2020). “As was the case in Stevenson, the assignment of the mortgage did not transfer enforcement rights on the note to CitiMortgage and, thus, the date of execution of the blank endorsement is immaterial to the case at bar: -4- Pursuant to KRS 355.3-201(2), “negotiation” means “a…”
Joel D. House v. Deutsche Bank Nat'l Trust as Tr. for Wamu Series 2007-He1 Trust (Ky. Ct. App. 2021). “” KRS 355.3-201(2). -15- In Kentucky, all affidavits are not entitled to equal consideration or equal weight when considering a summary judgment.”
Michael Kelley v. US Bank N.A. (Ky. Ct. App. 2021). “Pursuant to KRS 355.3-201(2), “negotiation” means “a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.”
Glenn D. Augenstein v. Deutsche Bank Nat'l Trust Co. as Tr. for the Certificateholders of Soundview (Ky. Ct. App. 2021). “3-205(2); see also KRS 355.3-201(1). Accordingly, if a party is in possession of the original note, it is entitled to enforce the obligations secured by it and is the real party in interest.”
In re: Ricky J. Dorsey, Sr. v. (6th Cir. BAP 2014). “] Ky. Rev. Stat. Ann. § 355.3-201 provides: (1) “Negotiation” means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.”
— Ky. Rev. Stat. § 355.3-201(1) — 3 cases
Acuff v. Wells Fargo Bank, N.A., 460 S.W.3d 335 (Ky. Ct. App. 2014). “The master commissioner herein correctly observed that “[w]hen endorsed in blank, an instrument becomes payable to bearer and may be negotiated by transfer of possession alone until specifically endorsed.”
J.P. Morgan Delaware v. Onyx Arabians II, Ltd., 825 F. Supp. 146 (W.D. Ky. 1993). “When Lasma II assigned its rights to Morgan, the right to Lasma I’s endorsement necessarily passed to Morgan. KRS 355.”
Glenn D. Augenstein v. Deutsche Bank Nat'l Trust Co. as Tr. for the Certificateholders of Soundview (Ky. Ct. App. 2021). “3-205(2); see also KRS 355.3-201(1). Accordingly, if a party is in possession of the original note, it is entitled to enforce the obligations secured by it and is the real party in interest.”
— Ky. Rev. Stat. § 355.3-201(2) — 7 cases
Stevenson v. Bank of Am., 359 S.W.3d 466 (Ky. Ct. App. 2011). “8 Pursuant to KRS 355.3-201(2), “negotiation” means “a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.”
Rogan v. Vanderbilt Mortg. & Fin., Inc. (In re Dorsey), 491 B.R. 464 (Bankr. E.D. Ky. 2013). “” Ky.Rev.Stat. Ann. § 355.3-201(2) (emphasis supplied).”
Acuff v. Wells Fargo Bank, N.A., 460 S.W.3d 335 (Ky. Ct. App. 2014). “The master commissioner herein correctly observed that “[w]hen endorsed in blank, an instrument becomes payable to bearer and may be negotiated by transfer of possession alone until specifically endorsed.”
Cole v. Warren Cnty., 495 S.W.3d 712 (Ky. Ct. App. 2015). “” KRS 355.3-201(2) states: “[ejxcept for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder.”
Allyn D. Moore v. Citimortgage, Inc. (Ky. Ct. App. 2020). “As was the case in Stevenson, the assignment of the mortgage did not transfer enforcement rights on the note to CitiMortgage and, thus, the date of execution of the blank endorsement is immaterial to the case at bar: -4- Pursuant to KRS 355.3-201(2), “negotiation” means “a…”
— Ky. Rev. Stat. § 355.3-201(3) — 1 case
J.P. Morgan Delaware v. Onyx Arabians II, Ltd., 825 F. Supp. 146 (W.D. Ky. 1993). “When Lasma II assigned its rights to Morgan, the right to Lasma I’s endorsement necessarily passed to Morgan. KRS 355.”
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