{"data":{"id":"us-ky/krs-355.9-323","jurisdiction":"us-ky","citation":"KRS 355.9-323","heading":"Future advances.","body":"(1) Except as otherwise provided in subsection (3) of this section, for purposes of\ndetermining the priority of a perfected security interest under KRS 355.9 -322(1)(a),\nperfection of the security interest dates from the time an advance is made to the\nextent that the security interest secures an advance that:\n(a) Is made while the security interest is perfected only:\n1. Under KRS 355.9-309 when it attaches; or\n2. Temporarily under KRS 355.9-312(5), (6), or (7); and\n(b) Is not made pursuant to a commitment entere d into before or while the\nsecurity interest is perfected by a method other than under KRS 355.9 -309 or\n355.9-312(5), (6), or (7).\n(2) Except as otherwise provided in subsection (3) of this section, a security interest is\nsubordinate to the rights of a per son that becomes a lien creditor to the extent that\nthe security interest secures an advance made more than forty -five (45) days after\nthe person becomes a lien creditor unless the advance is made:\n(a) Without knowledge of the lien; or\n(b) Pursuant to a commitment entered into without knowledge of the lien.\n(3) Subsections (1) and (2) of this section do not apply to a security interest held by a\nsecured party that is a buyer of accounts, chattel paper, payment intangibles, or\npromissory notes or a consignor.\n(4) Except as otherwise provided in subsection (5) of t his section, a buyer of goods\ntakes free of a security interest to the extent that it secures advances made after the\nearlier of:\n(a) The time the secured party acquires knowledge of the buyer's purchase; or\n(b) Forty-five (45) days after the purchase.\n(5) Subsection (4) of this section does not apply if the advance is made pursuant to a\ncommitment entered into without knowledge of the buyer's purchase and before the\nexpiration of the forty-five (45) day period.\n(6) Except as otherwise provided in subsectio n (7) of this section, a lessee of goods\ntakes the leasehold interest free of a security interest to the extent that it secures\nadvances made after the earlier of:\n(a) The time the secured party acquires knowledge of the lease; or\n(b) Forty-five (45) days after the lease contract becomes enforceable.\n(7) Subsection (6) of this section does not apply if the advance is made pursuant to a\ncommitment entered into without knowledge of the lease and before the expiration\nof the forty-five (45) day period.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55692","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:48Z","sha256":"de4217032f4000e45c198bb4006e36bf3fcde062e57bde266831a19ec62a76ac","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.9-322","next":"us-ky/krs-355.9-324"},"notice":"GroundRules: Original legal text. Not legal advice."}