Section 400.9-401

Title XXVI TRADE AND COMMERCE

Chapter 400

Effective - 01 Jul 2001, see footnote   

  400.9-401.  Alienability of debtor's rights. — (a)  Except as otherwise provided in subsection (b) and sections 400.9-406, 400.9-407, 400.9-408 and 400.9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article.

  (b)  An agreement between the debtor and secured party which prohibits a transfer of the debtor's rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.

­­--------

(L. 1963 p. 503 § 9-401, A.L. 1965 p. 595, A.L. 1988 S.B. 583, A.L. 2001 S.B. 288)

Effective 7-01-01

(1974) Where state of Missouri had knowledge of a security agreement filed with county recorder but erroneously not filed with secretary of state, that knowledge was sufficient to bar state from asserting a sales tax lien on goods covered by the security agreement. State v. Kerr (Mo.), 509 S.W.2d 61.