republic-os/legislation/us/states/ky/2024rs/sb-155.md

---
type: "Bill"
title: "AN ACT relating to the Uniform Commercial Code."
description: "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."
jurisdiction: "us/states/ky"
legislature: "Kentucky General Assembly"
session: "2024RS"
identifier: "SB 155"
citation: "Kentucky SB 155 (2024RS)"
classification: ["bill"]
subjects: ["Banks and Financial Institutions", "Contracts", "Effective Dates", "Delayed", "Liens", "Loans and Credit", "Negotiable Instruments", "Securities", "Technical Corrections", "Technology", "Uniform Laws"]
status: "enacted"
primary_sponsors: ["W. Westerfield"]
version_count: 3
action_count: 20
vote_count: 2
first_action: "2024-01-31T05:00:00+00:00"
last_action: "2024-03-26T04:00:00+00:00"
source: "openstates"
source_identifier: "ocd-bill/04e77f39-3fc9-4b64-99ee-b65ae33919fb"
source_url: "https://apps.legislature.ky.gov/record/24RS/sb155.html"
source_hash: "8bd1fe534bc4730bd94d83d4a532e3733007801da94fddf03d8a54b3b93fa6e9"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ky"]
---

# 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.

1. **Introduced** (filed) — [source](https://apps.legislature.ky.gov/recorddocuments/bill/24RS/sb155/orig_bill.pdf)
2. **Acts Chapter 10** (committee substitute) — [source](https://apps.legislature.ky.gov/law/acts/24RS/documents/0010.pdf)
3. **Current/Final** (committee substitute) — [source](https://apps.legislature.ky.gov/recorddocuments/bill/24RS/sb155/bill.pdf)

## 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](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/04e77f39-3fc9-4b64-99ee-b65ae33919fb`. Confidence: reported (aggregated from official Kentucky legislature records).