Missouri Revised Statutes













Chapter 400

Uniform Commercial Code

←400.2A-306

Section 400.2A-307.1

400.2A-308→

August 28, 2015

Priority of liens arising by attachment or levy on--security interest in--and other claims to goods.

400.2A-307. (1) Except as otherwise provided in section 400.2A-306, a

creditor of a lessee takes subject to the lease contract.



(2) Except as otherwise provided in subsection (3) and in sections

400.2A-306 and 400.2A-308, a creditor of a lessor takes subject to the lease

contract unless the creditor holds a lien that attached to the goods before

the lease contract became enforceable.



(3) Except as otherwise provided in sections 400.9-317, 400.9-321 and

400.9-323, a lessee takes a leasehold interest subject to a security interest

held by a creditor of the lessor.



(L. 1992 S.B. 448, A.L. 2001 S.B. 288)



Effective 7-01-01





1992



1992



400.2A-307. (1) Except as otherwise provided in section

400.2A-306, a creditor of a lessee takes subject to the lease

contract.



(2) Except as otherwise provided in subsections (3) and (4)

and in sections 400.2A-306 and 400.2A-308, a creditor of a lessor

takes subject to the lease contract unless:



(a) the creditor holds a lien that attached to the goods

before the lease contract became enforceable,



(b) the creditor holds a security interest in the goods and

the lessee did not give value and receive delivery of the goods

without knowledge of the security interest; or



(c) the creditor holds a security interest in the goods

which was perfected (Section 400.9-303) before the lease contract

became enforceable.



(3) A lessee in the ordinary course of business takes the

leasehold interest free of a security interest in the goods

created by the lessor even though the security interest is

perfected (Section 400.9-303) and the lessee knows of its

existence.



(4) A lessee other than a lessee in the ordinary course of

business takes the leasehold interest free of a security interest

to the extent that it secures future advances made after the

secured party acquires knowledge of the lease or more than

forty-five days after the lease contract becomes enforceable,

whichever first occurs, unless the future advances are 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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