Missouri Revised Statutes
Chapter 400
Uniform Commercial Code
←400.09-322
Section 400.9-323.1
400.09-324→
August 28, 2015
Future advances.
400.9-323. (a) Except as otherwise provided in subsection (c), for
purposes of determining the priority of a perfected security interest under
section 400.9-322(a)(1), perfection of the security interest dates from the
time an advance is made to the extent that the security interest secures an
advance that:
(1) Is made while the security interest is perfected only:
(A) Under section 400.9-309 when it attaches; or
(B) Temporarily under section 400.9-312(e), (f), or (g); and
(2) Is not made pursuant to a commitment entered into before or while
the security interest is perfected by a method other than under section
400.9-309 or 400.9-312(e), (f), or (g).
(b) Except as otherwise provided in subsection (c), a security interest
is subordinate to the rights of a person that becomes a lien creditor to the
extent that the security interest secures an advance made more than
forty-five days after the person becomes a lien creditor unless the advance is
made:
(1) Without knowledge of the lien; or
(2) Pursuant to a commitment entered into without knowledge of the lien.
(c) Subsections (a) and (b) do not apply to a security interest held by
a secured party that is a buyer of accounts, chattel paper, payment
intangibles, or promissory notes or a consignor.
(d) Except as otherwise provided in subsection (e), a buyer of goods
other than a buyer in ordinary course of business takes free of a security
interest to the extent that it secures advances made after the earlier of:
(1) The time the secured party acquires knowledge of the buyer's
purchase; or
(2) Forty-five days after the purchase.
(e) Subsection (d) does not apply if the advance is made pursuant to a
commitment entered into without knowledge of the buyer's purchase and before
the expiration of the forty-five-day period.
(f) Except as otherwise provided in subsection (g), a lessee of goods,
other than a lessee in ordinary course of business, takes the leasehold
interest free of a security interest to the extent that it secures advances
made after the earlier of:
(1) The time the secured party acquires knowledge of the lease; or
(2) Forty-five days after the lease contract becomes enforceable.
(g) Subsection (f) does not apply if the advance is made pursuant to a
commitment entered into without knowledge of the lease and before the
expiration of the forty-five-day period.
(L. 2001 S.B. 288, A.L. 2002 S.B. 895)
2001
2001
400.9-323. (a) Except as otherwise provided in subsection (c), for
purposes of determining the priority of a perfected security interest under
section 400.9-322(a)(1), perfection of the security interest dates from the
time an advance is made to the extent that the security interest secures an
advance that:
(1) Is made while the security interest is perfected only:
(A) Under section 400.9-309 when it attaches; or
(B) Temporarily under section 400.9-312(e), (f), or (g); and
(2) Is not made pursuant to a commitment entered into before or while
the security interest is perfected by a method other than under section
400.9-309 or 400.9-312(e), (f), or (g).
(b) Except as otherwise provided in subsection (c), a security
interest is subordinate to the rights of a person that becomes a lien
creditor while the security interest is perfected only to the extent that
it secures advances made more than forty-five days after the person becomes
a lien creditor unless the advance is made:
(1) Without knowledge of the lien; or
(2) Pursuant to a commitment entered into without knowledge of the
lien.
(c) Subsections (a) and (b) do not apply to a security interest held
by a secured party that is a buyer of accounts, chattel paper, payment
intangibles, or promissory notes or a consignor.
(d) Except as otherwise provided in subsection (e), a buyer of goods
other than a buyer in ordinary course of business takes free of a security
interest to the extent that it secures advances made after the earlier of:
(1) The time the secured party acquires knowledge of the buyer's
purchase; or
(2) Forty-five days after the purchase.
(e) Subsection (d) does not apply if the advance is made pursuant to
a commitment entered into without knowledge of the buyer's purchase and
before the expiration of the forty-five-day period.
(f) Except as otherwise provided in subsection (g), a lessee of
goods, other than a lessee in ordinary course of business, takes the
leasehold interest free of a security interest to the extent that it
secures advances made after the earlier of:
(1) The time the secured party acquires knowledge of the lease; or
(2) Forty-five days after the lease contract becomes enforceable.
(g) Subsection (f) does not apply if the advance is made pursuant to
a commitment entered into without knowledge of the lease and before the
expiration of the forty-five-day period.
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