700.385. Repossessed homes, certificate of title--application procedure, fee, form of--manufactured homes, notice--issued when--director of revenue, duties--rulemaking authority.

MISSOURI STATUTES AND CODES

700.385. Repossessed homes, certificate of title--application procedure, fee, form of--manufactured homes, notice--issued when--director of revenue, duties--rulemaking authority.

Repossessed homes, certificate of title--application procedure, fee,form of--manufactured homes, notice--issued when--director ofrevenue, duties--rulemaking authority.

700.385. 1. When the holder of any indebtedness secured by asecurity agreement or other contract for security covering a manufacturedhome, who has a notice of lien on file with the director of revenue,repossesses the manufactured home either by legal process or in accordancewith the terms of a contract authorizing the repossession of themanufactured home without legal process, the holder may obtain acertificate of ownership from the director of revenue upon presentation of:

(1) An application form furnished by the director of revenue whichshall contain a full description of the manufactured home and themanufacturer's or other identifying number;

(2) A notice of lien receipt or the original certificate of ownershipreflecting the holder's lien; and

(3) An affidavit of the holder, certified under penalties of perjuryfor making a false statement to a public official, that the debtordefaulted in payment of the debt, and that the holder repossessed themanufactured home either by legal process or in accordance with the termsof the contract, and the specific address where the manufactured home isheld. Such affidavit shall also state that the lienholder has the writtenconsent from all owners or lienholders of record to repossess themanufactured home or has provided all the owners or lienholders withwritten notice of the repossession.

2. On a manufactured home, the lienholder shall first give:

(1) Ten days' written notice by first class United States mail,postage prepaid, to each of the owners and other lienholders, if any, ofthe manufactured home at each of their last mailing addresses as shown bythe last prior certificate of ownership, if any issued, or the most recentaddress on the lienholder's records, that an application for a repossessedtitle will be made; or

(2) The lienholder may, ten days prior to applying for a repossessiontitle, include the information in the above notice in the appropriateuniform commercial code notice under sections 400.9-613 or 400.9-614, RSMo.Such alternative notice to all owners and lienholders shall be valid andenforceable under both the uniform commercial code and this section,provided it otherwise complies with the provisions of the uniformcommercial code.

3. Upon the holder's presentation of the papers required bysubsection 1 of this section and the payment of a fee of ten dollars, thedirector of revenue, if he is satisfied with the genuineness of the papers,shall issue and deliver to the holder a certificate of ownership whichshall be in its usual form except it shall be clearly captioned"Repossessed Title". Each repossessed title so issued shall, for allpurposes, be treated as an original certificate of ownership and shallsupersede the outstanding certificate of ownership, if any, and duplicatesthereof, if any, on the manufactured home, all of which shall become nulland void.

4. In any case where there is no certificate of ownership, orduplicate thereof, outstanding in the name of the debtor on the repossessedmanufactured home, the director of revenue shall issue a repossessed titleto the holder and shall proceed to collect all unpaid fees, taxes, chargesand penalties owed by the debtor, in addition to the fee specified insubsection 3 of this section.

5. The director of revenue may prescribe rules and regulations forthe effective administration of this section. Any rule or portion of arule, as that term is defined in section 536.010, RSMo, that is createdunder the authority delegated in this section shall become effective onlyif it complies with and is subject to all of the provisions of chapter 536,RSMo, and, if applicable, section 536.028, RSMo. This section and chapter536, RSMo, are nonseverable and if any of the powers vested with thegeneral assembly pursuant to chapter 536, RSMo, to review, to delay theeffective date, or to disapprove and annul a rule are subsequently heldunconstitutional, then the grant of rulemaking authority and any ruleproposed or adopted after August 28, 2006, shall be invalid and void.