(1) Except as otherwise provided in subsection (2) of this section, if the local law of this Commonwealth governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is:
(a) The office designated for the filing or recording of a record of a mortgage on the related real property, if:
1. The collateral is as-extracted collateral or timber to be cut; or
2. The financing statement is filed as a fixture filing and the collateral is goods that are or are to become fixtures; or
(b) The office of the Secretary of State, in all other cases, including a case in which the collateral is goods that are or are to become fixtures and the financing statement is not filed as a fixture filing.
(2) The office in which to file a financing statement to perfect a security interest in collateral, including fixtures, of a transmitting utility is the office of the Secretary of State. The financing statement also constitutes a fixture filing as to the collateral indicated in the financing statement which is or is to become fixtures. Effective: July 1, 2001 History: Repealed and reenacted 2000 Ky. Acts ch. 408, sec. 92, effective July 1, 2001. -- Amended 1986 Ky. Acts ch. 118, sec. 82, effective July 1, 1987. -- Amended 1962 Ky. Acts ch. 83, sec. 14. -- Created 1958 Ky. Acts ch. 77, sec. 9-501.
Notes of Decisions
Ingersoll-Rand Fin. Corp. v. Electro Coal, Inc., 496 F. Supp. 1289 (E.D. Ky. 1980).
· cites it 2× “Thus, we construe the language in Cox to hold only that once a partial recovery is made by repossession the amount recoverable on judgment is limited to any deficiency. This is in conformity with the equitable policy of avoiding multiple recovery.”
Nelson v. Monarch Inv. Plan of Henderson, Inc., 452 S.W.2d 375 (Ky. Ct. App. 1970).
“The evidentiary material establishes an intentional relinquishment of the right to notice. If it did not constitute a waiver, it seems clear that defendant’s actions relied on by plaintiff estopped him to claim a violation of the statute.”
Bishop v. All. Banking Co., 412 S.W.3d 217 (Ky. Ct. App. 2013).
“KRS 355.9-501(l)(b). Alliance Bank’s financing statement was properly filed with the Kentucky Secretary of State and Bishop’s reliance on any representations from the Powell County Clerk was misplaced, contrary to law, and otherwise did not create a disputed issue of material…”
HBKY, LLC v. Elk River Exp., LLC (E.D. Ky. 2023).
“§ 355.9-501(1). A financing statement must provide the name of the debtor, the name of the secured party, and indicate the collateral covered.”
— Ky. Rev. Stat. § 355.9-501(1) — 2 cases
Ingersoll-Rand Fin. Corp. v. Electro Coal, Inc., 496 F. Supp. 1289 (E.D. Ky. 1980).
“Thus, we construe the language in Cox to hold only that once a partial recovery is made by repossession the amount recoverable on judgment is limited to any deficiency. This is in conformity with the equitable policy of avoiding multiple recovery.”
HBKY, LLC v. Elk River Exp., LLC (E.D. Ky. 2023).
“§ 355.9-501(1). A financing statement must provide the name of the debtor, the name of the secured party, and indicate the collateral covered.”
— Ky. Rev. Stat. § 355.9-501(3) — 1 case
Nelson v. Monarch Inv. Plan of Henderson, Inc., 452 S.W.2d 375 (Ky. Ct. App. 1970).
“The evidentiary material establishes an intentional relinquishment of the right to notice. If it did not constitute a waiver, it seems clear that defendant’s actions relied on by plaintiff estopped him to claim a violation of the statute.”
— Ky. Rev. Stat. § 355.9-501(l)(b) — 1 case
Bishop v. All. Banking Co., 412 S.W.3d 217 (Ky. Ct. App. 2013).
“KRS 355.9-501(l)(b). Alliance Bank’s financing statement was properly filed with the Kentucky Secretary of State and Bishop’s reliance on any representations from the Powell County Clerk was misplaced, contrary to law, and otherwise did not create a disputed issue of material…”
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