400.8-601. Effect of amendments to article 8. - Missouri Statutes

Effect of amendments to article 8.

400.8.601. (a) The amendments to this article which became effectiveAugust 28, 1997, do not affect an action or proceeding commenced beforesuch effective date.

(b) If a security interest in a security is perfected on August 28,1997, the effective date of the amendments to this article referred to insubsection (a) of this section and the action by which the securityinterest was perfected would suffice to perfect a security interest underthis article as so amended, no further action is required to continueperfection. If a security interest in a security is perfected on August28, 1997, the effective date of such amendments, but the action by whichthe security interest was perfected would not suffice to perfect a securityinterest under this article as so amended, the security interest remainsperfected until, and including, December 31, 1998, and continues perfectedthereafter, if appropriate action to perfect under this article as soamended is taken on or before December 31, 1998. If a security interest isperfected on August 28, 1997, the effective date of such amendments, andthe security interest can be perfected by filing under this article as soamended, a financing statement signed by the secured party instead of thedebtor may be filed on or before December 31, 1998, to continue perfectionor thereafter to perfect.

(L. 1998 H.B. 1066)