KRS 355.9-805: Effectiveness of action taken before effective date.

(1) The filing of a financing statement before July 1, 2013, is effective to perfect a

security interest to the extent the filing would satisfy the applicable requirements for

perfection under this article, as amended by KRS 355.9-801 to 355.9-809.

(2) KRS 355 .9-801 to 355.9 -809 do not render ineffective an effective financing

statement that, before July 1, 2013, is filed and satisfies the applicable requirements

for perfection under the law of the jurisdiction governing perfection as provided in

this article as it existed before July 1, 2013. However, except as otherwise provided

in subsections (3) and (4) of this section and KRS 355.9 -806, the financing

statement ceases to be effective:

(a) If the financing statement is filed in this state, at the time the fin ancing

statement would have ceased to be effective had this section not become law;

or

(b) If the financing statement is filed in another jurisdiction, at the earlier of:

1. The time the financing statement would have ceased to be effective

under the law of that jurisdiction; or

2. June 30, 2018.

(3) The filing of a continuation statement after July 1, 2013, does not continue the

effectiveness of the financing statement filed before July 1, 2013. However, upon

the timely filing of a continuation statement a fter July 1, 2013, and in accordance

with the law of the jurisdiction governing perfection as provided in this article, as

amended by KRS 355.9 -801 to 355.9 -809, the effectiveness of a financing

statement filed in the same office in that jurisdiction befor e July 1, 2013, continues

for the period provided by the law of that jurisdiction.

(4) Subsection (2)(b)2. of this section applies to a financing statement that, before July

1, 2013, is filed against a transmitting utility and satisfies the applicable

requirements for perfection under the law of the jurisdiction governing perfection as

provided in this article as it existed before July 1, 2013, only to the extent that this

article as amended by KRS 355.9 -801 to 355.9 -809 provides that the law of a

jurisdiction other than the jurisdiction in which the financing statement is filed

governs perfection of a security interest in collateral covered by the financing

statement.

(5) A financing statement that includes a financing statement filed before July 1, 2013,

and a continuation statement filed after July 1, 2013, is effective only to the extent

that it satisfies the requirements of this article, as amended by KRS 355.9 -801 to

355.9-809, for an initial financing statement. A financing statement that indicates

that the debtor is a decedent's estate indicates that the collateral is being

administered by a personal representative within the meaning of KRS 355.9 -

503(1)(b). A financing statement that indicates that the debtor is a trust or is a

trustee acting with resp ect to property held in trust indicates that the collateral is

held in a trust within the meaning of KRS 355.9-503(1)(c).