408.310. Assignments of retail time contracts and charge agreements--notice to buyer, effect. - Missouri Statutes

Assignments of retail time contracts and charge agreements--notice tobuyer, effect.

408.310. Any person may purchase or acquire or agree topurchase or acquire from any seller any retail time contract oraccount under a retail charge agreement on such terms andconditions and at such price as may be agreed upon between them.Filing of the assignment, notice to the buyer of the assignment,and any requirement that the purchaser or other assignee maintaindominion over the payments or the goods if repossessed shall notbe necessary to the validity of a written assignment of such acontract or account as against creditors, subsequent purchasers,pledges, mortgagees and lien claimants of the seller. Unless thebuyer has notice of the assignment of his contract or account,payment thereunder made by the buyer to the seller or to the lastknown purchaser or other assignee of such contract or accountshall be binding upon all subsequent purchasers or otherassignees.

(L. 1961 p. 638 § 8)