{"data":{"id":"us-ky/krs-355.9-321","jurisdiction":"us-ky","citation":"KRS 355.9-321","heading":"Licensee of general intangible and lessee of goods in ordinary course of","body":"business.\n(1) In this section, \"licensee in ordinary course of business\" means a person that\nbecomes a licensee of a general intangible in good faith, without knowledge that the\nlicense violates the rights of another person in the general intangible, and in the\nordinary course from a person in the business of licensing general intangibles of that\nkind. A person becomes a licensee in the ordinary course if the license to the person\ncomports with the usual or customary practices in the kind of business in which the\nlicensor is engaged or with the licensor's own usual or customary practices.\n(2) A licensee in ordinary course of business takes its rights under a nonexclusive\nlicense free of a security interest in the general intangible created by the licensor,\neven if the security interest is perfected and the licensee knows of its existence.\n(3) A lessee in ordinary course of business takes its leasehold interest free of a security\ninterest in the goods created by the lessor, even if the security interest is perfected\nand the lessee knows of its existence.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33774","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:48Z","sha256":"ec284d01afffac26fa32476b4e8f0c96345e851eb62274950e7788e3cff86e4e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.9-320","next":"us-ky/krs-355.9-322"},"notice":"GroundRules: Original legal text. Not legal advice."}