{"data":{"id":"us-ky/krs-355.3-118","jurisdiction":"us-ky","citation":"KRS 355.3-118","heading":"Statute of limitations.","body":"(1) Except as provided in subsection (5) of this section, an action to enforce the\nobligation of a party to pay a note payable at a definite time must be commenced\nwithin six (6) years after the due date or dates stated in the note or, if a due date is\naccelerated, within six (6) years after the accelerated due date.\n(2) Except as provided in subsection (4) or (5) of this section, if demand for payment is\nmade to the maker of a note payable on demand, an action to enforce the obligation\nof a party to pay the note must be commenced within six (6) years after the demand.\nIf no demand for payment is made to the maker, an action to enforce the note is\nbarred if neither principal nor interest on the note has been paid for a continuous\nperiod of ten (10) years.\n(3) Except as provided in subsection (4) of this section, an action to enforce the\nobligation of a party to an unaccepted draft to pay the draft must be commenced\nwithin three (3) years after dishonor of the draft or ten (10) years after the date of\nthe draft, whichever period expires first.\n(4) An action to enforce the obligation of the acceptor of a certified check or the issuer\nof a teller's check, cashier's check, or traveler's check must be commenced within\nthree (3) years after demand for payment is made to  the acceptor or issuer, as the\ncase may be.\n(5) An action to enforce the obligation of a party to a certificate of deposit to pay the\ninstrument must be commenced within six (6) years after demand for payment is\nmade to the maker, but if the instrument st ates a due date and the maker is not\nrequired to pay before that date, the six (6) year period begins when a demand for\npayment is in effect and the due date has passed.\n(6) An action to enforce the obligation of a party to pay an accepted draft, other tha n a\ncertified check, must be commenced:\n(a) Within six (6) years after the due date or dates stated in the draft or acceptance\nif the obligation of the acceptor is payable at a definite time; or\n(b) Within six (6) years after the date of the acceptance if the obligation of the\nacceptor is payable on demand.\n(7) Unless governed by other law regarding claims for indemnity or contribution, an\naction:\n(a) For conversion of an instrument, for money had and received, or like action\nbased on conversion;\n(b) For breach of warranty; or\n(c) To enforce an obligation, duty, or right arising under this article and not\ngoverned by this section\nmust be commenced within three (3) years after the claim for relief accrues.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33446","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:44Z","sha256":"96aa618af222fb1058fb5c6f27db0a829311d6477bef74f4cfffd7346cdfdf2f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.3-117","next":"us-ky/krs-355.3-119"},"notice":"GroundRules: Original legal text. Not legal advice."}