Fabio
9.9 KiB
type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags
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| Bill | AN ACT relating to the Uniform Commercial Code. | Repeal and reenact KRS 355.2-102 to establish transactions subject to provisions of article; amend various sections of Articles 2, 2A, 4A, and 9 of KRS Chapter 355 to remove writing requirements; amend KRS 355.2A-102 to establish when article applies to hybrid leases; amend definition of "negotiable instrument" in KRS 355.3-104; amend KRS 355.3-105 and 355.3-604 to accommodate electronic transactions; amend KRS 355.3-417 and 355.4-208 to specify that expenses include reasonable attorney's fees; amend KRS 355.4A-201 to modify security procedure requirements relating to funds transfers; amend KRS 355.5-116 to establish governing law standards for letters of credit; amend KRS 355.7-106 and 355.8-106, repeal and reenact KRS 355.9-105, and create new sections of Article 9 of KRS Chapter 355, to establish control requirements for electronic documents of title, security entitlements, records evidencing chattel paper, electronic money, controllable electronic records, controllable accounts, and controllable payment intangibles; amend governing law standards for certain securities transactions in KRS 355.8-110; amend KRS 355.9-104 to expand when a security party has control of a deposit account; amend KRS 355.9-204 to establish exception to after-acquired property clause limitation; amend governing law standards for banks and securities and commodity entities in KRS 355.9-304 and 355.9-305; create new sections of Article 9 of KRS Chapter 355 to establish certain perfection and priority jurisdictional rules for chattel paper, controllable electronic records, controllable accounts, and controllable payment intangibles; amend KRS 355.9-203, 355.9-207, 355.9-208, 355.9-209, 355.9-310, 355.9-312, 355.9-314, 355.9-316, 355.9-317, 355.9-330, 355.9-331, 355.9-332, 355.9-406, 355.9-408, 355.9-605, and 355.9-628, and create new sections of Article 9 of KRS Chapter 355, to govern security interests in controllable electronic records, electronic money, controllable accounts, controllable payment intangibles, electronic documents, and chattel paper; amend KRS 355.9-323 to remove exception for buyers and lessees in the ordinary course of business relating to certain future advances clauses; amend notification of disposition of collateral requirements in KRS 355.9-613 and 355.9-614; establish a new Article 12 of KRS Chapter 355, titled "Controllable Electronic Records"; establish definitions, scope, purchaser rights, control requirements, debtor discharge obligations, and jurisdictional rules relating to controllable electronic records, controllable accounts, and controllable payment intangibles; create new sections of Article 11 of KRS Chapter 355; title Article 11 "Transitional Provisions for Uniform Commercial Code Amendments (2022)"; establish definitions and transitional provisions for transactions, liens, and interests entered, created, or acquired before the effective date of this Act; amend various sections of Articles 1, 2, 2A, 3, 5, 7, 8, and 9 of KRS Chapter 355 to make definitional revisions and conforming amendments; amend KRS 367.976 and 369.116 to conform; make technical corrections throughout; provide construction clause relating to a national digital currency; EFFECTIVE January 1, 2025. | us/states/ky | Kentucky General Assembly | 2024RS | SB 155 | Kentucky SB 155 (2024RS) |
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enacted |
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3 | 20 | 2 | 2024-01-31T05:00:00+00:00 | 2024-03-26T04:00:00+00:00 | openstates | ocd-bill/04e77f39-3fc9-4b64-99ee-b65ae33919fb | https://apps.legislature.ky.gov/record/24RS/sb155.html | 8bd1fe534bc4730bd94d83d4a532e3733007801da94fddf03d8a54b3b93fa6e9 | 2026-07-01 | https://data.openstates.org/daily/2026-07-01/public.pgdump | 2026-07-06 | reported |
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Kentucky SB 155 (2024RS) — AN ACT relating to the Uniform Commercial Code.
Repeal and reenact KRS 355.2-102 to establish transactions subject to provisions of article; amend various sections of Articles 2, 2A, 4A, and 9 of KRS Chapter 355 to remove writing requirements; amend KRS 355.2A-102 to establish when article applies to hybrid leases; amend definition of "negotiable instrument" in KRS 355.3-104; amend KRS 355.3-105 and 355.3-604 to accommodate electronic transactions; amend KRS 355.3-417 and 355.4-208 to specify that expenses include reasonable attorney's fees; amend KRS 355.4A-201 to modify security procedure requirements relating to funds transfers; amend KRS 355.5-116 to establish governing law standards for letters of credit; amend KRS 355.7-106 and 355.8-106, repeal and reenact KRS 355.9-105, and create new sections of Article 9 of KRS Chapter 355, to establish control requirements for electronic documents of title, security entitlements, records evidencing chattel paper, electronic money, controllable electronic records, controllable accounts, and controllable payment intangibles; amend governing law standards for certain securities transactions in KRS 355.8-110; amend KRS 355.9-104 to expand when a security party has control of a deposit account; amend KRS 355.9-204 to establish exception to after-acquired property clause limitation; amend governing law standards for banks and securities and commodity entities in KRS 355.9-304 and 355.9-305; create new sections of Article 9 of KRS Chapter 355 to establish certain perfection and priority jurisdictional rules for chattel paper, controllable electronic records, controllable accounts, and controllable payment intangibles; amend KRS 355.9-203, 355.9-207, 355.9-208, 355.9-209, 355.9-310, 355.9-312, 355.9-314, 355.9-316, 355.9-317, 355.9-330, 355.9-331, 355.9-332, 355.9-406, 355.9-408, 355.9-605, and 355.9-628, and create new sections of Article 9 of KRS Chapter 355, to govern security interests in controllable electronic records, electronic money, controllable accounts, controllable payment intangibles, electronic documents, and chattel paper; amend KRS 355.9-323 to remove exception for buyers and lessees in the ordinary course of business relating to certain future advances clauses; amend notification of disposition of collateral requirements in KRS 355.9-613 and 355.9-614; establish a new Article 12 of KRS Chapter 355, titled "Controllable Electronic Records"; establish definitions, scope, purchaser rights, control requirements, debtor discharge obligations, and jurisdictional rules relating to controllable electronic records, controllable accounts, and controllable payment intangibles; create new sections of Article 11 of KRS Chapter 355; title Article 11 "Transitional Provisions for Uniform Commercial Code Amendments (2022)"; establish definitions and transitional provisions for transactions, liens, and interests entered, created, or acquired before the effective date of this Act; amend various sections of Articles 1, 2, 2A, 3, 5, 7, 8, and 9 of KRS Chapter 355 to make definitional revisions and conforming amendments; amend KRS 367.976 and 369.116 to conform; make technical corrections throughout; provide construction clause relating to a national digital currency; EFFECTIVE January 1, 2025.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
- Introduced (filed) — source
- Acts Chapter 10 (committee substitute) — source
- Current/Final (committee substitute) — source
Votes
- PASS SB 155 — pass (pass) · upper
- Final Passage — pass (pass) · upper
Sponsors
- W. Westerfield — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
- 2024-01-31T05:00:00+00:00 introduced in Senate
introduction - 2024-01-31T05:00:00+00:00 to Committee on Committees (S)
referral-committee - 2024-02-02T05:00:00+00:00 to Judiciary (S)
referral-committee - 2024-02-15T05:00:00+00:00 reported favorably, 1st reading, to Calendar
committee-passage - 2024-02-16T05:00:00+00:00 2nd reading, to Rules
reading-2 - 2024-02-20T05:00:00+00:00 posted for passage in the Regular Orders of the Day for Thursday, February 22, 2024
- 2024-02-22T05:00:00+00:00 3rd reading, passed 29-8
passage, reading-3 - 2024-02-23T05:00:00+00:00 received in House
- 2024-02-23T05:00:00+00:00 to Committee on Committees (H)
referral-committee - 2024-03-12T04:00:00+00:00 to Banking & Insurance (H)
referral-committee - 2024-03-13T04:00:00+00:00 reported favorably, 1st reading, to Calendar
committee-passage - 2024-03-14T04:00:00+00:00 2nd reading, to Rules
reading-2 - 2024-03-21T04:00:00+00:00 taken from Rules
- 2024-03-21T04:00:00+00:00 placed in the Orders of the Day
- 2024-03-21T04:00:00+00:00 3rd reading, passed 72-21
passage, reading-3 - 2024-03-22T04:00:00+00:00 received in Senate
- 2024-03-22T04:00:00+00:00 enrolled, signed by President of the Senate
passage - 2024-03-22T04:00:00+00:00 enrolled, signed by Speaker of the House
passage - 2024-03-22T04:00:00+00:00 delivered to Governor
- 2024-03-26T04:00:00+00:00 signed by Governor (Acts Ch.10)
executive-signature
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/04e77f39-3fc9-4b64-99ee-b65ae33919fb. Confidence: reported (aggregated from official Kentucky legislature records).