1. (1) With respect to a vehicle previously titled in the name of its debtor, the secured party shall, within thirty (30) days after execution of the security agreement, submit a title lien statement in accordance with KRS 186A.195.
2. (2) For failure to present the title lien statement within the time prescribed by subsection (1) of this section, the secured party shall pay a penalty of two dollars ($2) to the county clerk as a prerequisite for noting the security interest on the title.
3. (3) The county clerk shall enter the information required by KRS 186A.190(9) into the system of record established under KRS 186A.195, enabling the cabinet to record the lien in the system of record and produce a title.

Effective: January 1, 2025

History: Amended 2022 Ky. Acts ch. 18, sec. 7, effective January 1, 2025. -- Amended 2020 Ky. Acts ch. 119, sec. 3, effective July 15, 2020. -- Amended 2017 Ky. Acts ch. 31, sec. 3, effective June 29, 2017. -- Amended 2016 Ky. Acts ch. 118, sec. 3, effective July 15, 2016. -- Amended 2000 Ky. Acts ch. 408, sec. 182, effective July 1, 2001. -- Amended 1998 Ky. Acts ch. 128, sec. 13, effective July 15, 1998. -- Amended 1996 Ky. Acts ch. 297, sec. 3, effective July 15, 1996. -- Amended 1986 Ky. Acts ch. 118, sec. 99, effective July 1, 1987. -- Created 1982 Ky. Acts ch. 164, sec. 37, effective July 15, 1982. Legislative Research Commission Note (6/29/2023). The effective date of the amendments to this statute in 2022 Ky. Acts ch. 18, sec. 7, was changed from January 1, 2024, to January 1, 2025, in 2023 Ky. Acts ch. 6, sec. 7.