KRS 355.9-619: Transfer of record or legal title.

(1) In this section, "transfer statement" means a record signed by a secured party

stating:

(a) That the debtor has defaulted in connection with an obligation secured by

specified collateral;

(b) That the secured party has exercised its post -default remedies w ith respect to

the collateral;

(c) That, by reason of the exercise, a transferee has acquired the rights of the

debtor in the collateral; and

(d) The name and mailing address of the secured party, debtor, and transferee.

(2) (a) A transfer statement entitl es the transferee to the transfer of record of all

rights of the debtor in the collateral specified in the statement in any official

filing, recording, registration, or certificate -of-title system covering the

collateral.

(b) If a transfer statement is presented with the applicable fee and request form to

the official or office responsible for maintaining the system, the official or

office shall:

1. Accept the transfer statement;

2. Promptly amend its records to reflect the transfer; and

3. If applicable, issue a new appropriate certificate of title in the name of

the transferee.

(3) A transfer of the record or legal title to collateral to a secured party under

subsection (2) of this section or otherwise is not of itself a disposition of collateral

under this article and does not of itself relieve the secured party of its duties under

this article.

(4) A secured party who complies with KRS 186.045(6) is considered to have provided

a transfer statement for purposes of this section.