Missouri Revised Statutes
Chapter 400
Uniform Commercial Code
←400.09-409
Section 400.9-501.1
400.09-502→
August 28, 2015
Filing office.
400.9-501. (a) Except as otherwise provided in subsection (b), if
the local law of this state governs perfection of a security interest or
agricultural lien, the office in which to file a financing statement to
perfect the security interest or agricultural lien is:
(1) The office designated for the filing or recording of a record of
a mortgage on the related real property, if:
(A) The collateral is as-extracted collateral or timber to be cut; or
(B) The financing statement is filed as a fixture filing and the
collateral is goods that are or are to become fixtures; or
(2) The office of the secretary of state in all other cases,
including a case in which the collateral is goods that are or are to become
fixtures and the financing statement is not filed as a fixture filing.
(b) The office in which to file a financing statement to perfect a
security interest in collateral, including fixtures, of a transmitting
utility is the office of the secretary of state. The financing statement
also constitutes a fixture filing as to the collateral indicated in the
financing statement which is or is to become fixtures.
(c) A person shall not knowingly or intentionally file, attempt to
file, or record any document related to real property with a recorder of
deeds under chapter 59 or a financing statement with the secretary of state
under subdivision (2) of subsection (a) or subsection (b) of this section,
with the intent that such document or statement be used to harass or
defraud any other person or knowingly or intentionally file, attempt to
file, or record such a document or statement that is materially false or
fraudulent.
(1) A person who violates this subsection shall be guilty of a class
D felony.
(2) If a person is convicted of a violation under this subsection,
the court may order restitution.
(d) In the alternative to the provisions of sections 428.105 through
428.135, if a person files a false or fraudulent financing statement with
the secretary of state under subdivision (2) of subsection (a) or
subsection (b) of this section, a debtor named in that financing statement
may file an action against the person that filed the financing statement
seeking appropriate equitable relief, actual damages, or punitive damages,
including, but not limited to, reasonable attorney fees.
(L. 1963 p. 503 § 9-501, A.L. 1988 S.B. 583, A.L. 2001 S.B. 288, A.L.
2014 H.B. 1412)
2001
1991
2001
400.9-501. (a) Except as otherwise provided in subsection (b), if the
local law of this state governs perfection of a security interest or
agricultural lien, the office in which to file a financing statement to
perfect the security interest or agricultural lien is:
(1) The office designated for the filing or recording of a record of a
mortgage on the related real property, if:
(A) The collateral is as-extracted collateral or timber to be cut; or
(B) The financing statement is filed as a fixture filing and the
collateral is goods that are or are to become fixtures; or
(2) The office of the secretary of state in all other cases, including a
case in which the collateral is goods that are or are to become fixtures and
the financing statement is not filed as a fixture filing.
(b) The office in which to file a financing statement to perfect a
security interest in collateral, including fixtures, of a transmitting
utility is the office of the secretary of state. The financing statement
also constitutes a fixture filing as to the collateral indicated in the
financing statement which is or is to become fixtures.
1991
400.9-501. (1) When a debtor is in default under a security
agreement, a secured party has the rights and remedies provided
in this part and except as limited by subsection (3) those
provided in the security agreement. He may reduce his claim to
judgment, foreclose or otherwise enforce the security interest by
any available judicial procedure. If the collateral is documents
the secured party may proceed either as to the documents or as to
the goods covered thereby. A secured party in possession has the
rights, remedies and duties provided in section 400.9-207. The
rights and remedies referred to in this subsection are
cumulative.
(2) After default, the debtor has the rights and remedies
provided in this part, those provided in the security agreement
and those provided in section 400.9-207.
(3) To the extent that they give rights to the debtor and
impose duties on the secured party, the rules stated in the
subsections referred to below may not be waived or varied except
as provided with respect to compulsory disposition of collateral
(subsection (3) of section 400.9-504 and section 400.9-505) and
with respect to redemption of collateral (section 400.9-506) but
the parties may by agreement determine the standards by which the
fulfillment of these rights and duties is to be measured if such
standards are not manifestly unreasonable:
(a) subsection (2) of section 400.9-502 and subsection (2)
of section 400.9-504 insofar as they require accounting for
surplus proceeds of collateral;
(b) subsection (3) of section 400.9-504 and subsection (1)
of section 400.9-505 which deal with disposition of collateral;
(c) subsection (2) of section 400.9-505 which deals with
acceptance of collateral as discharge of obligation;
(d) section 400.9-506 which deals with redemption of
collateral; and
(e) subsection (1) of section 400.9-507 which deals with the
secured party's liability for failure to comply with this part.
(4) If the security agreement covers both real and personal
property, the secured party may proceed under this part as to the
personal property or he may proceed as to both the real and the
personal property in accordance with his rights and remedies in
respect of the real property in which case the provisions of this
part do not apply.
(5) When a secured party has reduced his claim to judgment
the lien of any levy which may be made upon his collateral by
virtue of any execution based upon the judgment shall relate back
to the date of the perfection of the security interest in such
collateral. A judicial sale, pursuant to such execution, is a
foreclosure of the security interest by judicial procedure within
the meaning of this section, and the secured party may purchase
at the sale and thereafter hold the collateral free of any other
requirements of this article.
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