400.9-311. Perfection of security interests in property subject to certain statutes, regulations, and treaties. - Missouri Statutes

Perfection of security interests in property subject to certainstatutes, regulations, and treaties.

400.9-311. (a) Except as otherwise provided in subsection (d), thefiling of a financing statement is not necessary or effective to perfect asecurity interest in property subject to:

(1) A statute, regulation, or treaty of the United States whoserequirements for a security interest's obtaining priority over the rightsof a lien creditor with respect to the property preempt section400.9-310(a);

(2) Sections 301.600 to 301.661, RSMo, and section 400.2A-304; or

(3) A certificate-of-title statute of another jurisdiction whichprovides for a security interest to be indicated on the certificate as acondition or result of the security interest's obtaining priority over therights of a lien creditor with respect to the property.

(b) Compliance with the requirements of a statute, regulation, ortreaty described in subsection (a) for obtaining priority over the rightsof a lien creditor is equivalent to the filing of a financing statementunder this article. Except as otherwise provided in subsection (d) andsections 400.9-313 and 400.9-316(d) and (e) for goods covered by acertificate of title, a security interest in property subject to a statute,regulation, or treaty described in subsection (a) may be perfected only bycompliance with those requirements, and a security interest so perfectedremains perfected notwithstanding a change in the use or transfer ofpossession of the collateral.

(c) Except as otherwise provided in subsection (d) and section400.9-316(d) and (e), duration and renewal of perfection of a securityinterest perfected by compliance with the requirements prescribed by astatute, regulation, or treaty described in subsection (a) are governed bythe statute, regulation, or treaty. In other respects, the securityinterest is subject to this article.

(d) During any period in which collateral is inventory held for saleor lease by a person or leased by that person as lessor and that person isin the business of selling or leasing goods of that kind, this section doesnot apply to a security interest in that collateral created by that personas debtor.

(L. 1963 p. 503 § 9-311, A.L. 2001 S.B. 288)

Effective 7-01-01