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Section 400.9-325 Priority in security interests in transferred collateral.

MO Rev Stat § 400.9-325 (2019) (N/A)
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Effective 01 Jul 2001, see footnote

400.9-325. Priority in security interests in transferred collateral. — (a) Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:

(1) The debtor acquired the collateral subject to the security interest created by the other person;

(2) The security interest created by the other person was perfected when the debtor acquired the collateral; and

(3) There is no period thereafter when the security interest is unperfected.

(b) Subsection (a) subordinates a security interest only if the security interest:

(1) Otherwise would have priority solely under section 400.9-322(a) or 400.9-324; or

(2) Arose solely under section 400.2-711(3) or 400.2A-508(5).

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(L. 2001 S.B. 288)

Effective 7-01-01

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