{"data":{"id":"us-ky/krs-355.8-511","jurisdiction":"us-ky","citation":"KRS 355.8-511","heading":"Priority among security interests and entitlement holders.","body":"(1) Except as otherwise provided in subsections (2) and (3) of this section, if a\nsecurities intermediary does not have sufficient interests in a particular financial\nasset to satisfy both its obligations to entitlement holders who have security\nentitlements to that financial asset and its obligation to a creditor of the securities\nintermediary who has a security interest in that financial asset, the claims of\nentitlement holders, other than the creditor, have priority over the claim of the\ncreditor.\n(2) A claim of a creditor of a securities intermediary who has a security interest in a\nfinancial asset held by a securities intermediary has priority over claims of the\nsecurities intermediary's entitlement holders who have security entitlements with\nrespect to that financial asset if the creditor has control over the financial asset.\n(3) If a clearing corporation does not have sufficient financial assets to satisfy both its\nobligations to entitlement holders who have security entitlements with respect to a\nfinancial asset and its obligation to a creditor of the clearing corporation who has a\nsecurity interest in that financial asset, the claim of the creditor has priority over the\nclaims of entitlement holders.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33727","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:47Z","sha256":"a8cf599afb8535daa6a5b0d40cecce2735718e890063ff26331104c997b92c85","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.8-510","next":"us-ky/krs-355.9-101"},"notice":"GroundRules: Original legal text. Not legal advice."}