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

Ky. Rev. Stat. § 355.9-402 (2026)

Secured party not obligated on contract of debtor or in tort

✓ current as of May 2026
Find cases: SyfertCases citing this section KY-LRCapps.legislature.ky.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar

The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions. Effective: July 1, 2001 History: Repealed and reenacted 2000 Ky. Acts ch. 408, sec. 84, effective July 1, 2001. -- Amended 1998 Ky. Acts ch. 542, sec. 4, effective July 15, 1998. -- Amended 1988 Ky. Acts ch. 132, sec. 8, effective March 31, 1988. -- Amended 1986 Ky. Acts ch. 118, sec. 75, effective July 1, 1987. -- Amended 1968 Ky. Acts ch. 193. -- Amended 1966 Ky. Acts ch. 259, sec. 1. -- Amended 1962 Ky. Acts ch. 83, sec. 10. -- Created 1958 Ky. Acts ch. 77, sec. 9-402.

Notes of Decisions
Cited in 16 cases (1 in the last 5 years), 1964–2022 · leading case: Bank of Danville v. Farmers Nat'l Bank of Danville, 602 S.W.2d 160 (Ky. 1980).
Sort: Relevance Newest Treatment
Bank of Danville v. Farmers Nat'l Bank of Danville, 602 S.W.2d 160 (Ky. 1980). · cites it 5× “9-203(1)(b) and KRS 355.9-402(1), and so far as applicable, they provide as follows: "355.”
Riley v. Miller, 549 S.W.2d 314 (Ky. Ct. App. 1977). · cites it 7× “The court issued findings of fact, conclusions of law and judgment wherein the court found the defects in the chattel mortgage to be technical in nature and concluded there had been substantial compliance with the requirements of KRS 355.9-402. *315 Therefore, the chattel…”
Nolin Prod. Credit Ass'n v. Canmer Deposit Bank, 726 S.W.2d 693 (Ky. Ct. App. 1986). · cites it 2× “In the context of security agreements, KRS 355.9-402(1) additionally includes in the requirements for a sufficient security agreement the proviso that the agreement “contain a statement indicating the types, or describing the items of collateral.”
Alloway v. Stuart, 385 S.W.2d 41 (Ky. Ct. App. 1964). · cites it 4× “Appellant insists that appellee failed to comply with KRS 355.9-402, a section of the Uniform Commercial Code.”
Kaiser Agric. Chemicals v. Beaver Dam Grain, Inc. (In Re Beaver Dam Grain, Inc.), 43 B.R. 283 (Bankr. W.D. Ky. 1984). · cites it 3× “11 Even if *286 the security interest had attached, it would still be unperfeeted under Kentucky law because the 1977 Kaiser/BC financing statement does not meet the statutory requirements of KRS 355.9-402 for a valid financing statement covering a security agreement between the…”
In Re Anselm, 344 F. Supp. 544 (W.D. Ky. 1972). · cites it 2× “KRS 355.9-402 states in part: “A financing statement is sufficient if it is signed by the debtor and the secured party, gives an address of the secured party from which information concerning the security interest may be obtained, gives a mailing address of the debtor and…”
Hutchison v. C.I.T. Corp., 576 F. Supp. 1 (W.D. Ky. 1982). “*3 KRS 355.9-402(1) provides in substance that a financing statement is sufficient if it is signed by the debtor and a secured party.”
Laurel Explosives, Inc. v. First Nat'l Bank & Trust Co. of Corbin, 801 S.W.2d 336 (Ky. Ct. App. 1990). “9-203, regarding the description of collateral in security agreements, and KRS 355.9-402, regarding the requirements for financing statements, refer to the standard set out in 9-110.”
Am. Pulverizer Co. v. Cantrell, 694 S.W.2d 714 (Ky. Ct. App. 1985). · cites it 3× “Having retained a security interest in certain equipment and machinery that Energy Klenzing was to use in the coal washing and preparation plant, on December 11, 1975, American filed a financing statement pursuant to KRS 355.9-402 with the Secretary of State and with the…”
Phillips v. Ball & Hunt Enter., Inc., 933 F. Supp. 1290 (W.D. Va. 1996). “Ky.Rev.Stat.Ann. § 355.9-402(1). 4 . Eric Ball is the sole owner of Eric Enterprises, Inc.”
In Re Harris, 17 B.R. 210 (Bankr. W.D. Ky. 1982). “In February, 1979, Commercial perfected its nonpossesso-ry, nonpurchase money security interest in the debtors’ household furniture and automobile by filing a financing statement in accordance with KRS 355.9-402. On January 31, 1980, the debtors made a fourth loan with…”
In Re Radcliff Door Co., Inc., 17 B.R. 153 (Bankr. W.D. Ky. 1982). “KRS 355.9-402(1) provides in pertinent part: “A financing statement is sufficient if it is signed by the debtor and the secured party, gives an address of the secured party from which information concerning the security interest may be obtained, gives a mailing address of the…”
Show all 16 citing cases →
Ky. Rev. Stat. § 355.9-402(1): 9 cases
Bank of Danville v. Farmers Nat'l Bank of Danville, 602 S.W.2d 160 (Ky. 1980). “9-203(1)(b) and KRS 355.9-402(1), and so far as applicable, they provide as follows: "355.”
Nolin Prod. Credit Ass'n v. Canmer Deposit Bank, 726 S.W.2d 693 (Ky. Ct. App. 1986). “In the context of security agreements, KRS 355.9-402(1) additionally includes in the requirements for a sufficient security agreement the proviso that the agreement “contain a statement indicating the types, or describing the items of collateral.”
Riley v. Miller, 549 S.W.2d 314 (Ky. Ct. App. 1977). “The court issued findings of fact, conclusions of law and judgment wherein the court found the defects in the chattel mortgage to be technical in nature and concluded there had been substantial compliance with the requirements of KRS 355.9-402. *315 Therefore, the chattel…”
Hutchison v. C.I.T. Corp., 576 F. Supp. 1 (W.D. Ky. 1982). “*3 KRS 355.9-402(1) provides in substance that a financing statement is sufficient if it is signed by the debtor and a secured party.”
Phillips v. Ball & Hunt Enter., Inc., 933 F. Supp. 1290 (W.D. Va. 1996). “Ky.Rev.Stat.Ann. § 355.9-402(1). 4 . Eric Ball is the sole owner of Eric Enterprises, Inc.”
Ky. Rev. Stat. § 355.9-402(4): 1 case
Bank of Danville v. Farmers Nat'l Bank of Danville, 602 S.W.2d 160 (Ky. 1980). “9-203(1)(b) and KRS 355.9-402(1), and so far as applicable, they provide as follows: "355.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.