400.9-514. Assignment of powers of secured party of record. - Missouri Statutes

Assignment of powers of secured party of record.

400.9-514. (a) Except as otherwise provided in subsection (c), aninitial financing statement may reflect an assignment of all of the securedparty's power to authorize an amendment to the financing statement byproviding the name and mailing address of the assignee as the name andaddress of the secured party.

(b) Except as otherwise provided in subsection (c), a secured partyof record may assign of record all or part of its power to authorize anamendment to a financing statement by filing in the filing office anamendment of the financing statement which:

(1) Identifies, by its file number, the initial financing statementto which it relates;

(2) Provides the name of the assignor; and

(3) Provides the name and mailing address of the assignee.

(c) An assignment of record of a security interest in a fixturecovered by a record of a mortgage which is effective as a financingstatement filed as a fixture filing under section 400.9-502(c) may be madeonly by an assignment of record of the mortgage in the manner provided bylaw of this state other than this chapter.

(L. 2001 S.B. 288)

Effective 7-01-01