{"data":{"id":"us-ky/krs-355.9-3061","jurisdiction":"us-ky","citation":"KRS 355.9-3061","heading":"Law governing perfection and priority of security interests in chattel","body":"paper.\n(1) Except as provided in subsection (4) of this section, if chattel paper is evidenced\nonly by an authoritative electronic copy of the chattel paper or is  evidenced by an\nauthoritative electronic copy and an authoritative tangible copy, the local law of the\nchattel paper's jurisdiction governs perfection, the effect of perfection or\nnonperfection, and the priority of a security interest in the chattel paper , even if the\ntransaction does not bear any relation to the chattel paper's jurisdiction.\n(2) The following rules determine the chattel paper's jurisdiction under this section:\n(a) If the authoritative electronic copy of the record evidencing chattel paper , or a\nrecord attached to or logically associated with the electronic copy and readily\navailable for review, expressly provides that a particular jurisdiction is the\nchattel paper's jurisdiction for purposes of this part, this article, or this\nchapter, that jurisdiction is the chattel paper's jurisdiction;\n(b) If paragraph (a) of this subsection does not apply and the rules of the system\nin which the authoritative electronic copy is recorded are readily available for\nreview and expressly provide that a particular jurisdiction is the chattel paper's\njurisdiction for purposes of this part, this article, or this chapter, that\njurisdiction is the chattel paper's jurisdiction;\n(c) If paragraphs (a) and (b) of this subsection do not apply and the authoritative\nelectronic copy, or a record attached to or logically associated with the\nelectronic copy and readily available for review, expressly provides that the\nchattel paper is governed by the law of a particular jurisdiction, that\njurisdiction is the chattel paper's jurisdiction;\n(d) If paragraphs (a), (b), and (c) of this subsection do not apply and the rules of\nthe system in which the authoritative electronic copy is recorded are readily\navailable for review and expressly provide that the chattel paper or the syste m\nis governed by the law of a particular jurisdiction, that jurisdiction is the\nchattel paper's jurisdiction; and\n(e) If paragraphs (a) to (d) of this subsection do not apply, the chattel paper's\njurisdiction is the jurisdiction in which the debtor is located.\n(3) If an authoritative tangible copy of a record evidences chattel paper and the chattel\npaper is not evidenced by an authoritative electronic copy, while the authoritative\ntangible copy of the record evidencing chattel paper is located in a jurisdic tion, the\nlocal law of that jurisdiction governs:\n(a) Perfection of a security interest in the chattel paper by possession under KRS\n355.9-3141; and\n(b) The effect of perfection or nonperfection and the priority of a security interest\nin the chattel paper.\n(4) The local law of the jurisdiction in which the debtor is located governs perfection of\na security interest in chattel paper by filing.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55683","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:48Z","sha256":"ba539ebba123a5a14a707379aecaba13790f8378b4844297967ed636e2cd8a91","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.9-306","next":"us-ky/krs-355.9-3062"},"notice":"GroundRules: Original legal text. Not legal advice."}