leases, other bailments, and other transactions.
(1) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in KRS 355.9-311(1), using the terms "consignor," "consignee," "lessor," "lessee," "bailor," "bailee," "licensor," "licensee," "owner," "registered owner," "buyer," "seller," or words of similar import, instead of the terms "secured party" and "debtor."
(2) This part of this article applies to the filing of a financing statement under subsection (1) of this section and, as appropriate, to compliance that is equivalent to filing a financing statement under KRS 355.9-311(2), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner, or buyer which attaches to the collateral is perfected by the filing or compliance. Effective: July 1, 2001 History: Repealed and reenacted 2000 Ky. Acts ch. 408, sec. 96, effective July 1, 2001. -- Amended 1986 Ky. Acts ch. 118, sec. 85, effective July 1, 1987. -- Created 1958 Ky. Acts ch. 77, sec. 9-505, effective July 1, 1960.
Notes of Decisions
Herring Mining Co. v. Roberts Bros. Coal Co., 747 S.W.2d 616 (Ky. Ct. App. 1988).
· cites it 5× “9-504, having retained the collateral in satisfaction of the obligation as provided in KRS 355.9-505(2). 2 Roberts Brothers acknowledged, however, that it had not given Herring notice of its intent to so retain the collateral as required by this Uniform Commercial Code provision.”
Owens v. First Commonwealth Bank of Prestonsburg, 706 S.W.2d 414 (Ky. Ct. App. 1985).
“KRS 355.9-505. KRS 355.9-504 provides that a creditor *416 may sell the collateral, either publicly or privately, and apply the proceeds of the sale in satisfaction of the debt which is owed to him.”
Lee & Mason Int'l Agency, Inc. v. Daugherty, 828 S.W.2d 677 (Ky. Ct. App. 1992).
“KRS 355.9-505(2). In the present case, Liberty followed the terms of the statute when it provided the Daughertys with notice of the impending sale of the repossessed Mustang at a forthcoming auction, which was advertised in the Courier Journal as a public sale.”
Ky. Rev. Stat. § 355.9-505(2): 2 cases
Herring Mining Co. v. Roberts Bros. Coal Co., 747 S.W.2d 616 (Ky. Ct. App. 1988).
“9-504, having retained the collateral in satisfaction of the obligation as provided in KRS 355.9-505(2). 2 Roberts Brothers acknowledged, however, that it had not given Herring notice of its intent to so retain the collateral as required by this Uniform Commercial Code provision.”
Lee & Mason Int'l Agency, Inc. v. Daugherty, 828 S.W.2d 677 (Ky. Ct. App. 1992).
“KRS 355.9-505(2). In the present case, Liberty followed the terms of the statute when it provided the Daughertys with notice of the impending sale of the repossessed Mustang at a forthcoming auction, which was advertised in the Courier Journal as a public sale.”
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