KRS 355.8-112: Creditor's legal process.
Where this section sits in the code
(1) The interest of a debtor in a certificated security may be reached by a creditor only
by actual seizure of the security certificate by the officer making the attachment or
levy, except as otherwise provided in subsection (4) of this section. However, a
certificated security for which the certificate has been surrendered to the issuer may
be reached by a creditor by legal process upon the issuer.
(2) The interest of a debtor in an uncertificated security may be reached by a creditor
only by legal process upo n the issuer at its chief executive office in the United
States, except as otherwise provided in subsection (4) of this section.
(3) The interest of a debtor in a security entitlement may be reached by a creditor only
by legal process upon the securities i ntermediary with whom the debtor's securities
account is maintained, except as otherwise provided in subsection (4) of this
section.
(4) The interest of a debtor in a certificated security for which the certificate is in the
possession of a secured party, or in an uncertificated security registered in the name
of a secured party, or a security entitlement maintained in the name of a secured
party, may be reached by a creditor by legal process upon the secured party.
(5) A creditor whose debtor is the owner of a certificated security, uncertificated
security, or security entitlement is entitled to aid from a court of competent
jurisdiction, by injunction or otherwise, in reaching the certificated security,
uncertificated security, or security entitlement or i n satisfying the claim by means
allowed at law or in equity in regard to property that cannot readily be reached by
other legal process.
Collected 2026-09-05T20:58:46Z. Source file · JSON