KRS 355.9-301: Law governing perfection and priority of security interests.

Except as otherwise provided in KRS 355.9 -303 to 355.9 -3062, the following rules

determine the law governing perfection, the effect of perfection or nonperfection, and the

priority of a security interest in collateral:

(1) Except as otherwise provided in this section, while a debtor is located in a

jurisdiction, the local law of that jurisdiction governs perfection, the effect of

perfection or nonperfection, and the priority of a security interest in collateral;

(2) While collateral is located in a jurisdiction, the local law of that jurisdiction governs

perfection, the effect of perfection or nonperfection, and the priority of a possessory

security interest in that collateral;

(3) Except as otherwise provided in subsection (4) of this section, while negotiable

tangible documents, goods, instruments, or tangible money is located in a

jurisdiction, the local law of that jurisdiction governs:

(a) Perfection of a security interest in the goods by filing a fixture filing;

(b) Perfection of a security interest in timber to be cut; and

(c) The effect of perfection or nonperfection and the priority of a nonpossessory

security interest in the collateral; and

(4) The local law of the j urisdiction in which the wellhead or minehead is located

governs perfection, the effect of perfection or nonperfection, and the priority of a

security interest in as-extracted collateral.