601 KAR 9:210. Continuation of title liens.
RELATES TO: KRS 186A.190, 186A.193, 186A.195, 186A.185
STATUTORY AUTHORITY: KRS 186A.010(2), 186A.190
NECESSITY, FUNCTION, AND CONFORMITY: KRS 186A.190 states that the notation of a security interest on a certificate of title shall automatically expire within a certain period. The statute further provides that secured parties may continue their security interest notation beyond the expiration by filing a continuation statement. This administrative regulation sets forth the procedure for filing a continuation statement to extend a security interest notation on a certificate of title.
Section 1. Continuation of a Security Interest. A secured party may continue a security interest on a certificate of title beyond the expiration date set forth in KRS 186A.190 by filing a Title Lien Statement Form (TC 96-187E) in the office of the county clerk of the county where the original lien is filed.
(1) For the purpose of continuing a security interest, the Title Lien Statement Form shall be filed no sooner than six (6) months prior to the expiration date of the initial period set forth in KRS 186A.190 on the date corresponding to the date of lapse or the last day of the month if there is no corresponding date. The Title Lien Statement form shall be filed no later than close of business on the date upon which the financing statement lapses.
(2) The date the statement form is received in the appropriate county clerk’s office as indicated in this section shall control the effectiveness of the continuation statement.
Section 2. Incorporation by Reference. (1) Title Lien Statement Form, TC 96-187E, July 2001, is incorporated by reference.
(2) This material may be inspected, copied, or obtained, subject to applicable copyright law, at the Transportation Cabinet, Division of Motor Vehicle Licensing, 2nd Floor, State Office Building, 501 High Street, Frankfort, Kentucky 40622, Monday through Friday, 8 a.m. to 4:30 p.m. (28 Ky.R. 758; Am. 1154; 1385; eff. 12-19-2001.)