{"data":{"id":"us-ky/krs-355.9-209","jurisdiction":"us-ky","citation":"KRS 355.9-209","heading":"Duties of secured party if account debtor has been notified of","body":"assignment.\n(1) Except as otherwise provided in subsection (3) of this section, this section applies\nif:\n(a) There is no outstanding secured obligation; and\n(b) The secured party is not committed to make advances, incur obligations, or\notherwise give value.\n(2) Within ten (10) days after receiving a signed demand by the debtor, a secured party\nshall send to an account debtor that has received notification under KRS 355.9 -\n406(1) or 355.12-106(2) of an assignment to the secured party as assignee a signed\nrecord that releases the account debtor from any further obligation to the secured\nparty.\n(3) This section does not apply to an assignment constituting the sale of an account,\nchattel paper, or payment intangible.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55678","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:47Z","sha256":"c0318527ccb8cff77928c02dc13d13ac004c0add212b7e82c1b29a8b994980f5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.9-208","next":"us-ky/krs-355.9-210"},"notice":"GroundRules: Original legal text. Not legal advice."}