400.9-319. Rights and title of consignee with respect to creditors and purchasers. - Missouri Statutes

Rights and title of consignee with respect to creditors andpurchasers.

400.9-319. (a) Except as otherwise provided in subsection (b), forpurposes of determining the rights of creditors of, and purchasers forvalue of goods from, a consignee, while the goods are in the possession ofthe consignee, the consignee is deemed to have rights and title to thegoods identical to those the consignor had or had power to transfer.

(b) For purposes of determining the rights of a creditor of aconsignee, law other than this article determines the rights and title of aconsignee while goods are in the consignee's possession if, under thispart, a perfected security interest held by the consignor would havepriority over the rights of the creditor.

(L. 2001 S.B. 288)

Effective 7-01-01