{"data":{"id":"us-ky/krs-355.1-202","jurisdiction":"us-ky","citation":"KRS 355.1-202","heading":"Notice -- Knowledge.","body":"(1) Subject to subsection (6) of this section, a person has \"notice\" of a fact if the person:\n(a) Has actual knowledge of it;\n(b) Has received a notice or notification of it; or\n(c) From all the facts and circumstances known to the person at the time in\nquestion, has reason to know that it exists.\n(2) \"Knowledge\" means actual knowledge. \"Knows\" has a corresponding meaning.\n(3) \"Discover,\" \"learn,\" or words of similar import refer to knowledge rather than to\nreason to know.\n(4) A person \"notifies\" or \"gives\" a n otice or notification to another person by taking\nsuch steps as may be reasonably required to inform the other person in ordinary\ncourse, whether or not the other person actually comes to know of it.\n(5) Subject to subsection (6) of this section, a person \"receives\" a notice or notification\nwhen:\n(a) It comes to that person's attention; or\n(b) It is duly delivered in a form reasonable under the circumstances at the place\nof business through which the contract was made or at another location held\nout by that person as the place for receipt of such communications.\n(6) Notice, knowledge, or a notice or notification received by an organization is\neffective for a particular transaction from the time it is brought to the attention of\nthe individual conducting that  transaction and, in any event, from the time it would\nhave been brought to the individual's attention if the organization had exercised due\ndiligence. An organization exercises due diligence if it maintains reasonable\nroutines for communicating significan t information to the person conducting the\ntransaction and there is reasonable compliance with the routines. Due diligence does\nnot require an individual acting for the organization to communicate information\nunless the communication is part of the individ ual's regular duties or the individual\nhas reason to know of the transaction and that the transaction would be materially\naffected by the information.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33226","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:41Z","sha256":"05d581c14b278565f3dc69bf3091b3f4f77c805958f9aff2a39f6f950825c884","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.1-201","next":"us-ky/krs-355.1-203"},"notice":"GroundRules: Original legal text. Not legal advice."}