Kentucky Legislative Tweaks

ith only one day left in the 2016 legislative session—the legislature is scheduled to adjourn sine die on April 12—the General Assembly has passed, and the Governor signed, less than 30 of the 941 bills introduced—a success rate of only 3%.  Most of the remaining time will be spent in budget negotiations, and the Governor will be considering whether to sign or veto some additional bills.

For creditors, the Governor has signed some technical amendments of note:

1. A termination statement of a lien noted on a motor vehicle (or other) certificate of title may be faxed from any county clerk to the county clerk of the county where originally filed. SB 74, amending KRS 186.045.
2. The effectiveness of a lien noted on a motor vehicle (or other) certificate of title is extended from 7 years to 10 years. Continuation statements must be filed within 6 months of expiration, and will last 5 years (down from 7) counting from the date the existing lien would have expired. SB 122,