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SB 94 (BR 1026) - D. Givens

     AN ACT relating to agriculture.
     Create new sections of KRS Chapter 376 to establish a livestock seller's lien in favor of a livestock seller when the seller does not receive payment for the livestock within three days of delivery; describe the property of the lien to which the lien attaches; deem the lien a purchase money security interest; declare the lien effective the day the livestock is delivered; provide that the lien is perfected by filing a financing statement within 45 days, or within 20 days to have purchase money security interest priority; establish priority consistent with Article 9 of the Uniform Commercial Code and a pro rata share in the same collateral for multiple lien holders; allow a buyer in the ordinary course of business to take free of the lien; allow enforcement of the lien according to Part 6 of the Uniform Commercial Code.


     SCS - Retain original provisions, except add definition of "livestock" to new section of KRS Chapter 376; amend KRS 322.9-102 to provide that a livestock seller's lien is within the definition of "agricultural lien" under Article 9 of the Uniform Commercial Code.

     Jan 10-introduced in Senate
     Jan 11-to Agriculture (S)
     Jan 26-reported favorably, 1st reading, to Calendar with Committee Substitute
     Jan 27-2nd reading, to Rules
     Jan 30-posted for passage in the Regular Orders of the Day for Tuesday, January 31, 2012
     Jan 31-3rd reading, passed 32-3 with Committee Substitute
     Feb 1-received in House
     Feb 2-to Agriculture & Small Business (H)
     Mar 26-taken from Agriculture & Small Business (H); 1st reading; returned to Agriculture & Small Business (H)

Vote History
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