301.630. Lien or encumbrance, assignment, procedure, effect of--perfection of assignment, how, fee--form for notice of electronic certificate. - Missouri Statutes

Lien or encumbrance, assignment, procedure, effect of--perfection ofassignment, how, fee--form for notice of electronic certificate.

301.630. 1. A lienholder may assign, absolutely or otherwise, his orher lien or encumbrance in the motor vehicle or trailer to a person otherthan the owner without affecting the interest of the owner or the validityor effect of the lien or encumbrance, but any person without notice of theassignment is protected in dealing with the lienholder as the holder of thelien or encumbrance and the lienholder remains liable for any obligationsas lienholder until the assignee is named as lienholder on the certificate.

2. The assignee may, but need not, to perfect the assignment, havethe certificate of ownership endorsed or issued with the assignee named aslienholder, upon delivering to the director of revenue the certificate andan assignment by the lienholder named in the certificate in the form thedirector of revenue prescribes the application and the required fee.

3. If the certificate of ownership is being electronically retainedby the director of revenue, the original lienholder may mail or deliver anotice of assignment of a lien to the director in a form prescribed by thedirector. Upon receipt of notice of assignment the director shall updatethe electronic certificate of ownership to reflect the assignment of thelien and lienholder.

(L. 1965 p. 474 § 4, A.L. 1990 H.B. 1279, A.L. 1992 H.B. 884, A.L. 1999 H.B. 795, A.L. 2002 H.B. 2008)

*This section was amended by both H.B. 2008 and S.B. 895 during the Second Regular Session of the Ninety-first General Assembly, 2002. Due to possible conflict, both versions are printed here.

Lien or encumbrance, assignment, procedure, effect of--perfection ofassignment, when, how, fee--form for notice of electronic certificate.

301.630. 1. A lienholder may assign, absolutely or otherwise, his orher lien or encumbrance in the motor vehicle or trailer to a person otherthan the owner without affecting the interest of the owner or the validityor effect of the lien or encumbrance, but any person without notice of theassignment is protected in dealing with the lienholder as the holder of thelien or encumbrance and the lienholder remains liable for any obligationsas lienholder until the assignee is named as lienholder on the certificate.

2. The assignee may, but need not perfect the assignment, have thecertificate of ownership endorsed or issued with the assignee named aslienholder, upon delivering to the director of revenue the certificate andan assignment by the lienholder named in the certificate in the form thedirector of revenue prescribes the application and the required fee.

3. If the certificate of ownership is being electronically retainedby the director of revenue, the original lienholder may mail or deliver anotice of assignment of a lien to the director in a form prescribed by thedirector. Upon receipt of notice of assignment the director shall updatethe electronic certificate of ownership to reflect the assignment of thelien and lienholder.

(L. 1965 p. 474 § 4, A.L. 1990 H.B. 1279, A.L. 1992 H.B. 884, A.L. 1999 H.B. 795, A.L. 2002 S.B. 895)

Effective 7-01-03

*This section was amended by both H.B. 2008 and S.B. 895 during the Second Regular Session of the Ninety-first General Assembly, 2002. Due to possible conflict, both versions are printed here.