400.9-331. Priority of rights of purchasers of instruments, documents, and securities under other articles--priority of interests in financial assets and security entitlements under article 8. - Missouri Statutes

Priority of rights of purchasers of instruments, documents, andsecurities under other articles--priority of interests in financialassets and security entitlements under article 8.

400.9-331. (a) This article does not limit the rights of a holder indue course of a negotiable instrument, a holder to which a negotiabledocument of title has been duly negotiated, or a protected purchaser of asecurity. These holders or purchasers take priority over an earliersecurity interest, even if perfected, to the extent provided in articles 3,7, and 8.

(b) This article does not limit the rights of or impose liability ona person to the extent that the person is protected against the assertionof an adverse claim under article 8.

(c) Filing under this article does not constitute notice of a claimor defense to the holders, or purchasers, or persons described insubsections (a) and (b).

(L. 2001 S.B. 288)

Effective 7-01-01