{"data":{"id":"us-ky/krs-425.126","jurisdiction":"us-ky","citation":"KRS 425.126","heading":"Execution on transferable securities, security entitlements, or an option or","body":"right to acquire a security -- Requirements of the order -- Duty of corporate\nofficials.\n(1) If any claim be made by attachment, garnishment, or other judicial order to a\nsecurity or security entitlement, as defined in KRS 355.8 -102(1), such order shall\nnot be valid as against any securities intermediary, as defined in KRS 355.8 -102(1),\nor any issuer, as defined in KRS 355.8 -201, or nominee or agent of either having\nany intere st in, custody of, or control over such security or security entitlement,\nunless such order specifies the following:\n(a) For a security, the name of the issuer, the class or series of the security, or\nboth, the number of shares or other units of interest r epresented by the\nsecurity, the name of the debtor and the name of the person, if different from\nthe debtor, having an account on the books of the securities intermediary or\nissuer in which such security is shown;\n(b) For an option or right to acquire a security, the name of the issuer, the class or\nseries of the security in which the option or right to acquire exists, the name of\nthe debtor and the name of the person, if different from the debtor, having an\naccount on the books of the securities intermedia ry or issuer in which such\noption or right is shown; or\n(c) For a security entitlement, other than a security or an option or right to acquire\na security, the name of the debtor and the name of the person, if different from\nthe debtor, having an account on  the books of the securities intermediary or\nissuer in which such security entitlement is shown.\n(2) An attachment, garnishment, or other judicial order of the kind described in\nsubsection (1) of this section which does not set forth all the elements of\nidentification required by subsection (1) of this section shall in no manner bind or\ngive notice of such claim to any securities intermediary, as defined in KRS 355.8 -\n102(1), or any issuer, as defined in KRS 355.8 -201, or nominee or agent of either\nhaving an interest in, custody of, or control over such security, or option or right to\nacquire such security, or security entitlement, and such securities intermediary,\nissuer, nominee, or agent may transfer, pledge, or in any manner deal with such\nsecurity or opt ion, or right to acquire such security or security entitlement in\ndisregard of such order or claim without liability to the claimant.\n(3) It shall be the duty of every person mentioned in subsections (1) and (2) of this\nsection to whom any plaintiff or any judgment creditor shall apply therefor, in good\nfaith and for a proper purpose stated in the request, to furnish him or her a written\nstatement setting forth any reasonably requested information in such person's\npossession, custody, or control that concerns the ownership of or records concerning\nownership of a security, an option or right to acquire a security, or a security\nentitlement concerning a specifically identified person. The statement shall be\nprovided within ten (10) days of receipt of the writt en request and a failure to\nperform this duty may be punished by the court as a contempt.","path":["KRS Chapter 425"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=18330","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:42Z","sha256":"ed6e82b39945f2b9a98ad51b0b3c9135d475e4b57869529aea063fda2648fd99","source_id":"us-ky","stale":false,"prev":"us-ky/krs-425.125","next":"us-ky/krs-425.130"},"notice":"GroundRules: Original legal text. Not legal advice."}