400.9-303. Law governing perfection and priority of security interests in goods covered by certificate of title.

MISSOURI STATUTES AND CODES

400.9-303. Law governing perfection and priority of security interests in goods covered by certificate of title.

Law governing perfection and priority of security interests in goodscovered by certificate of title.

400.9-303. (a) This section applies to goods covered by acertificate of title, even if there is no other relationship between thejurisdiction under whose certificate of title the goods are covered and thegoods or the debtor.

(b) Goods become covered by a certificate of title when a validapplication for the certificate of title and the applicable fee aredelivered to the appropriate authority. Goods cease to be covered by acertificate of title at the earlier of the time the certificate of titleceases to be effective under the law of the issuing jurisdiction or thetime the goods become covered subsequently by a certificate of title issuedby another jurisdiction.

(c) The local law of the jurisdiction under whose certificate oftitle the goods are covered governs perfection, the effect of perfection ornonperfection, and the priority of a security interest in goods covered bya certificate of title from the time the goods become covered by thecertificate of title until the goods cease to be covered by the certificateof title.

(d) When a notice of lien is filed in accordance with chapter 301 or306, RSMo, then the lien is perfected and this chapter shall not governperfection or nonperfection or the priority of the lien even though a validapplication for a certificate of title and the applicable fee was notdelivered to the appropriate authority or the certificate of title was notissued by such authority.

(e) Article 9 of this chapter shall not apply to liens onmanufactured homes perfected in accordance with sections 700.350 to700.390, RSMo, and the perfection or nonperfection, the priority andtermination of the lien shall be governed by those sections, except liensor encumbrances on manufactured homes perfected pursuant to article 9 ofthis chapter, after June 30, 2001, and before August 28, 2002, and theperfection or nonperfection, the priority, termination, rights, duties, andinterests flowing from them are and shall remain valid and may beterminated, completed, consummated, or enforced as required or permitted byarticle 9 of this chapter, provided such liens on such manufactured homesare not perfected in accordance with sections 700.350 to 700.390, RSMo,however when conflicting lienholders file liens on the same manufacturedhome, the lien filed under sections 700.350 to 700.390, RSMo, shall havepriority over the lien filed under article 9 of this chapter, for the timeperiod after June 30, 2001, and before August 28, 2002.