{"data":{"id":"us-ky/krs-355.9-610","jurisdiction":"us-ky","citation":"KRS 355.9-610","heading":"Disposition of collateral after default.","body":"(1) After default, a secured party may sell, lease, license, or otherwise dispose of any or\nall of the collateral in its present condition or following any commercially\nreasonable preparation or processing.\n(2) Every aspect of a disposition of collateral, incl uding the method, manner, time,\nplace, and other terms, must be commercially reasonable. If commercially\nreasonable, a secured party may dispose of collateral by public or private\nproceedings, by one (1) or more contracts, as a unit or in parcels, and at a ny time\nand place and on any terms.\n(3) A secured party may purchase collateral:\n(a) At a public disposition; or\n(b) At a private disposition only if the collateral is of a kind that is customarily\nsold on a recognized market or the subject of widely distributed standard price\nquotations.\n(4) A contract for sale, lease, license, or other disposition includes the warranties\nrelating to title, possession, quiet enjoyment, and the like which by operation of law\naccompany a voluntary disposition of property of the kind subject to the contract.\n(5) A secured party may disclaim or modify warranties under subsection (4) of this\nsection:\n(a) In a manner that would be effective to disclaim or modify the warranties in a\nvoluntary disposition of property of the kind su bject to the contract of\ndisposition; or\n(b) By communicating to the purchaser a record evidencing the contract for\ndisposition and including an express disclaimer or modification of the\nwarranties.\n(6) A record is sufficient to disclaim warranties under s ubsection (5) of this section if it\nindicates \"There is no warranty relating to title, possession, quiet enjoyment, or the\nlike in this disposition\" or uses words of similar import.\n(7) The acquisition of a repossession title by a secured party shall not b e deemed a\ndisposition of collateral under this section.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33842","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:49Z","sha256":"1d987dbdbe43dff6e3c082de264447369ced0609b0c2a20d53d11d219812d6a7","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.9-609","next":"us-ky/krs-355.9-611"},"notice":"GroundRules: Original legal text. Not legal advice."}