{"data":{"id":"us-ky/krs-355.9-705","jurisdiction":"us-ky","citation":"KRS 355.9-705","heading":"Effectiveness of action taken before effective date.","body":"(1) If action, other than the filing of a financing statement, is taken before July 1, 2001,\nand the action would have resulted in priority of a security interest over the rights of\na person that becomes a lien creditor had the security interest become enforce able\nbefore July 1, 2001, the action is effective to perfect a security interest that attaches\nunder the revision of Article 9 in 2000 Ky. Acts ch. 408 within one (1) year after\nJuly 1, 2001. An attached security interest becomes unperfected one (1) year a fter\nJuly 1, 2001, unless the security interest becomes a perfected security interest under\nthe revision of Article 9 in 2000 Ky. Acts ch. 408 before the expiration of that\nperiod.\n(2) The filing of a financing statement before July 1, 2001, is effective t o perfect a\nsecurity interest to the extent the filing would satisfy the applicable requirements for\nperfection under the revision of Article 9 in 2000 Ky. Acts ch. 408.\n(3) The revision of Article 9 in 2000 Ky. Acts ch. 408 does not render ineffective an\neffective financing statement that, before July 1, 2001, is filed and satisfies the\napplicable requirements for perfection under the law of the jurisdiction governing\nperfection as provided in the former KRS 355.9 -103, or law determining the place\nof filing as provided in the former KRS 355.9 -401. However, except as otherwise\nprovided in subsections (4) and (5) of this section and KRS 355.9 -706, the\nfinancing statement ceases to be effective at the earlier of:\n(a) The time the financing statement would have  ceased to be effective under the\nlaw of the jurisdiction in which it is filed; or\n(b) June 30, 2006.\n(4) The filing of a continuation statement on or after July 1, 2001, does not continue the\neffectiveness of the financing statement filed before July 1, 2 001. However, upon\nthe timely filing of a continuation statement after July 1, 2001, and in accordance\nwith the law of the jurisdiction governing perfection as provided in Part 3 of this\narticle, the effectiveness of a financing statement filed in the same  office in that\njurisdiction before July 1, 2001, continues for the period provided by the law of that\njurisdiction.\n(5) Subsection (3)(b) of this section applies to a financing statement that, before July 1,\n2001, is filed against a transmitting utility a nd satisfies the applicable requirements\nfor perfection under the law of the jurisdiction governing perfection as provided in\nthe former KRS 355.9-103 only to the extent that Part 3 of this article provides that\nthe law of a jurisdiction other than the jur isdiction in which the financing statement\nis filed governs perfection of a security interest in collateral covered by the\nfinancing statement.\n(6) A financing statement that includes a financing statement filed before July 1, 2001,\nand a continuation stat ement filed on or after July 1, 2001, is effective only to the\nextent that it satisfies the requirements of Part 5 of this article for an initial\nfinancing statement.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33865","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:49Z","sha256":"41e63f3392f63a5b4c70eb00cf0ecf2d5399b859a7415d1fbd6225bfe741b13a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.9-704","next":"us-ky/krs-355.9-706"},"notice":"GroundRules: Original legal text. Not legal advice."}