400.9-337. Priority of security interests in goods covered by certificate of title. - Missouri Statutes

Priority of security interests in goods covered by certificate oftitle.

400.9-337. If, while a security interest in goods is perfected by anymethod under the law of another jurisdiction, this state issues acertificate of title that does not show that the goods are subject to thesecurity interest or contain a statement that they may be subject tosecurity interests not shown on the certificate:

(1) A buyer of the goods, other than a person in the business ofselling goods of that kind, takes free of the security interest if thebuyer gives value and receives delivery of the goods after issuance of thecertificate and without knowledge of the security interest; and

(2) The security interest is subordinate to a conflicting securityinterest in the goods that attaches, and is perfected under section400.9-311(b), after issuance of the certificate and without the conflictingsecured party's knowledge of the security interest.

(L. 2001 S.B. 288)

Effective 7-01-01