§ 355-8-112

355.8 -112 Creditor's legal process. (1) The interest of a debtor in a certificated security may be reached by a creditor only by actual seizure of the security certificate by the officer making the attachment or levy, except as otherwise provided in subsection (4) of this section. However, a certificated security for which the certificate has been surrendered to the issuer may be reached by a creditor by legal process upon the issuer. (2) The interest of a debtor in an uncertificated security may be reached by a creditor only by legal process upo n the issuer at its chief executive office in the United States, except as otherwise provided in subsection (4) of this section. (3) The interest of a debtor in a security entitlement may be reached by a creditor only by legal process upon the securities i ntermediary with whom the debtor's securities account is maintained, except as otherwise provided in subsection (4) of this section. (4) The interest of a debtor in a certificated security for which the certificate is in the possession of a secured party, or in an uncertificated security registered in the name of a secured party, or a security entitlement maintained in the name of a

ty for which the certificate is in the possession of a secured party, or in an uncertificated security registered in the name of a secured party, or a security entitlement maintained in the name of a secured party, may be reached by a creditor by legal process upon the secured party. (5) A creditor whose debtor is the owner of a certificated security, uncertificated security, or security entitlement is entitled to aid from a court of competent jurisdiction, by injunction or otherwise, in reaching the certificated security, uncertificated security, or security entitlement or i n satisfying the claim by means allowed at law or in equity in regard to property that cannot readily be reached by other legal process. Effective: January 1, 1997 History: Created 1996 Ky. Acts ch. 130, sec. 125, effective January 1, 1997.