400.9-326. Priority of security interests created by new debtor. - Missouri Statutes

Priority of security interests created by new debtor.

400.9-326. (a) Subject to subsection (b), a security interestcreated by a new debtor which is perfected by a filed financing statementthat is effective solely under section 400.9-508 in collateral in which anew debtor has or acquires rights is subordinate to a security interest inthe same collateral which is perfected other than by a filed financingstatement that is effective solely under section 400.9-508.

(b) The other provisions of this part determine the priority amongconflicting security interests in the same collateral perfected by filedfinancing statements that are effective solely under section 400.9-508.However, if the security agreements to which a new debtor became bound asdebtor were not entered into by the same original debtor, the conflictingsecurity interests rank according to priority in time of the new debtor'shaving become bound.

(L. 2001 S.B. 288)

Effective 7-01-01