The Kentucky Self Storage Association, together with the national Self Storage Association, continues to work on a number of issues to protect and improve your regulatory arena. In 2014 the KYSSA made major revisions to lien law provisions consistent with recent improvements in other states. The new law (SB 150), signed by the governor on April 9, 2014, provides the following updates to the current law:
Kentucky Lien Law
- Permits lien notices to be sent by either verified mail (any method of mailing that provides evidence of mailing) with the second notice or electronic mail. Email must be sent by a method that provides a receipt of delivery.
- Permits the towing of vehicles, boats and trailers when rent is 60 or more days past due.
- Permits the charging of reasonable late fees, with $20 and 20 percent considered reasonable.
- Provides a contractual value limitation (limit on owner/ operator liability).