reglab/housing_qa huggingface dataset:
MO Rev Stat § 400.8-511 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.8-511 - Priority among security interests and entitlement holders.

Effective - 28 Aug 1997   400.8-511. Priority among security interests and entitlement holders. — (a) Except as otherwise provided in subsections (b) and (c), if a securities intermediary does not have sufficient interests in a particular financial asset to satisfy both its obligations to entitlement holders who have security entitlements to that financial asset and its obligation to a creditor of the securities intermediary who has a security interest in that financial asset, the claims of entitlement holders, other than the creditor, have priority over the claim of the creditor.  (b) A claim of a creditor of a securities intermediary who has a security interest in a financial asset held by a securities intermediary has priority over claims of the securities intermediary's entitlement holders who have security entitlements with respect to that financial asset if the creditor has control over the financial asset.  (c) If a clearing corporation does not have sufficient financial assets to satisfy both its obligations to entitlement holders who have security entitlements with respect to a financial asset and its obligation to a creditor of the clearing corporation who has a security interest in that financial asset, the claim of the creditor has priority over the claims of entitlement holders. ­­-------- (L. 1997 S.B. 6)
MO Rev Stat § 400.8-601 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.8-601 - Effect of amendments to article 8.

Effective - 28 Aug 1998   400.8-601. Effect of amendments to article 8. — (a) The amendments to this article which became effective August 28, 1997, do not affect an action or proceeding commenced before such effective date.  (b) If a security interest in a security is perfected on August 28, 1997, the effective date of the amendments to this article referred to in subsection (a) of this section and the action by which the security interest was perfected would suffice to perfect a security interest under this article as so amended, no further action is required to continue perfection. If a security interest in a security is perfected on August 28, 1997, the effective date of such amendments, but the action by which the security interest was perfected would not suffice to perfect a security interest under this article as so amended, the security interest remains perfected until, and including, December 31, 1998, and continues perfected thereafter, if appropriate action to perfect under this article as so amended is taken on or before December 31, 1998. If a security interest is perfected on August 28, 1997, the effective date of such amendments, and the security interest can be perfected by filing under this article as so amended, a financing statement signed by the secured party instead of the debtor may be filed on or before December 31, 1998, to continue perfection or thereafter to perfect. ­­-------- (L. 1998 H.B. 1066)
MO Rev Stat § 400.9-101 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-101 - Short title.

Effective - 01 Jul 2001   400.9-101. Short title. — This article may be cited as "Uniform Commercial Code-Secured Transactions". ­­-------- (L. 1963 p. 503 § 9-101, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-104 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-104 - Control of deposit account.

Effective - 01 Jul 2001   400.9-104. Control of deposit account. — (a) A secured party has control of a deposit account if:  (1) The secured party is the bank with which the deposit account is maintained;  (2) The debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the account without further consent by the debtor; or  (3) The secured party becomes the bank's customer with respect to the deposit account.  (b) A secured party that has satisfied subsection (a) has control, even if the debtor retains the right to direct the disposition of funds from the deposit account. ­­-------- (L. 1963 p. 503 § 9-104, A.L. 1988 S.B. 583, A.L. 1997 S.B. 6, A.L. 2001 S.B. 288)  Effective 7-01-01  (1980) Statute excluding bank deposits from secured transactions provision of the Uniform Commercial Code does not apply to bank deposits which are proceeds of collateral. Morris Plan Co. v. Broadway National Bank of Kansas City (A.), 598 S.W.2d 557.  (1980) Bank's right to setoff as general creditor under statute excluding right to setoff from secured transactions provisions of the Uniform Commercial Code does not mean that general creditors may abrogate perfected security interest simply by having right to and opportunity for setoff. Morris Plan Co. v. Broadway National Bank of Kansas City (A.), 598 S.W.2d 557.
MO Rev Stat § 400.9-105 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-105 - Control of electronic chattel paper.

Effective - 28 Aug 2014   400.9-105. Control of electronic chattel paper. — (a) A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned.  (b) A system satisfies subsection (a) if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that:  (1) A single authoritative copy of the record or records exists which is unique, identifiable and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable;  (2) The authoritative copy identifies the secured party as the assignee of the record or records;  (3) The authoritative copy is communicated to and maintained by the secured party or its designated custodian;  (4) Copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the secured party;  (5) Each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and  (6) Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized. ­­-------- (L. 1963 p. 503 § 9-105, A.L. 1988 S.B. 583, A.L. 1992 S.B. 448, A.L. 1997 S.B. 6, A.L. 2001 S.B. 288, A.L. 2014 H.B. 1376)  (1967) The exclusion of money from the definition of "goods" in this section does not apply to coins having a numismatic value which were held as inventory by a coin dealer. Zuke v. St. Johns Community Bank (A.), 387 F.2d 118.
MO Rev Stat § 400.9-106 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-106 - Control of investment property.

Effective - 01 Jul 2001   400.9-106. Control of investment property. — (a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 400.8-106.  (b) A secured party has control of a commodity contract if:  (1) The secured party is the commodity intermediary with which the commodity contract is carried; or  (2) The commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.  (c) A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account. ­­-------- (L. 1963 p. 503 § 9-106, A.L. 1988 S.B. 583, A.L. 1997 S.B. 6, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-107 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-107 - Control of letter-of-credit right.

Effective - 01 Jul 2001   400.9-107. Control of letter-of-credit right. — A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under section 400.5-114(c) or otherwise applicable law or practice. ­­-------- (L. 1963 p. 503 § 9-107, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-108 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-108 - Sufficiency of description.

Effective - 01 Jul 2001   400.9-108. Sufficiency of description. — (a) Except as otherwise provided in subsections (c), (d), and (e), a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described.  (b) Except as otherwise provided in subsection (d), a description of collateral reasonably identifies the collateral if it identifies the collateral by:  (1) Specific listing;  (2) Category;  (3) Except as otherwise provided in subsection (e), a type of collateral defined in chapter 400;  (4) Quantity;  (5) Computational or allocational formula or procedure; or  (6) Except as otherwise provided in subsection (c), any other method, if the identity of the collateral is objectively determinable.  (c) A description of collateral as "all the debtor's assets" or "all the debtor's personal property" or using words of similar import does not reasonably identify the collateral.  (d) Except as otherwise provided in subsection (e), a description of a security entitlement, securities account, or commodity account is sufficient if it describes:  (1) The collateral by those terms or as investment property; or  (2) The underlying financial asset or commodity contract.  (e) A description only by type of collateral defined in chapter 400 is an insufficient description of:  (1) A commercial tort claim; or  (2) In a consumer transaction, consumer goods, a security entitlement, a securities account, or a commodity account. ­­-------- (L. 1963 p. 503 § 9-108, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-110 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-110 - Security interests arising under Article 2 or 2A.

Effective - 01 Jul 2001   400.9-110. Security interests arising under Article 2 or 2A. — A security interest arising under sections 400.2-401, 400.2-505, 400.2-711(3) or 400.2A-508(5) is subject to this article. However, until the debtor obtains possession of the goods:  (1) The security interest is enforceable, even if section 400.9-203(b)(3) has not been satisfied;  (2) Filing is not required to perfect the security interest;  (3) The rights of the secured party after default by the debtor are governed by article 2 or 2A; and  (4) The security interest has priority over a conflicting security interest created by the debtor. ­­-------- (L. 1963 p. 503 § 9-110, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-201 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-201 - General effectiveness of security agreement.

Effective - 01 Jul 2001   400.9-201. General effectiveness of security agreement. — (a) Except as otherwise provided in chapter 400, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.  (b) A transaction subject to this article is subject to any applicable rule of law which establishes a different rule for consumers.  (c) In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) has only the effect the statute or regulation specifies.  (d) This article does not:  (1) Validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b); or  (2) Extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it. ­­-------- (L. 1963 p. 503 § 9-201, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-202 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-202 - Title to collateral immaterial.

Effective - 01 Jul 2001   400.9-202. Title to collateral immaterial. — Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this article with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor. ­­-------- (L. 1963 p. 503 § 9-202, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-204 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-204 - After-acquired property — future advances.

Effective - 01 Jul 2001   400.9-204. After-acquired property — future advances. — (a) Except as otherwise provided in subsection (b), a security agreement may create or provide for a security interest in after-acquired collateral.  (b) A security interest does not attach under a term constituting an after-acquired property clause to:  (1) Consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within ten days after the secured party gives value; or  (2) A commercial tort claim.  (c) A security agreement may provide that collateral secures, or that accounts, chattel paper, payment intangibles, or promissory notes are sold in connection with, future advances or other value, whether or not the advances or value are given pursuant to commitment. ­­-------- (L. 1963 p. 503 § 9-204, A.L. 1988 S.B. 583, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-205 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-205 - Use or disposition of collateral permissible.

Effective - 01 Jul 2001   400.9-205. Use or disposition of collateral permissible. — (a) A security interest is not invalid or fraudulent against creditors solely because:  (1) The debtor has the right or ability to:  (A) Use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;  (B) Collect, compromise, enforce, or otherwise deal with collateral;  (C) Accept the return of collateral or make repossessions; or  (D) Use, commingle, or dispose of proceeds; or  (2) The secured party fails to require the debtor to account for proceeds or replace collateral.  (b) This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party. ­­-------- (L. 1963 p. 503 § 9-205, A.L. 1988 S.B. 583, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-206 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-206 - Security interest arising in purchase or delivery of financial asset.

Effective - 01 Jul 2001   400.9-206. Security interest arising in purchase or delivery of financial asset. — (a) A security interest in favor of a securities intermediary attaches to a person's security entitlement if:  (1) The person buys a financial asset through the securities intermediary in a transaction in which the person is obligated to pay the purchase price to the securities intermediary at the time of the purchase; and  (2) The securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary.  (b) The security interest described in subsection (a) secures the person's obligation to pay for the financial asset.  (c) A security interest in favor of a person that delivers a certificated security or other financial asset represented by a writing attaches to the security or other financial asset if:  (1) The security or other financial asset:  (A) In the ordinary course of business is transferred by delivery with any necessary endorsement or assignment; and  (B) Is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and  (2) The agreement calls for delivery against payment.  (d) The security interest described in subsection (c) secures the obligation to make payment for the delivery. ­­-------- (L. 1963 p. 503 § 9-206, A.L. 1969 p. 78, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-207 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-207 - Rights and duties of secured party having possession or control of collateral.

Effective - 01 Jul 2001   400.9-207. Rights and duties of secured party having possession or control of collateral. — (a) Except as otherwise provided in subsection (d), a secured party shall use reasonable care in the custody and preservation of collateral in the secured party's possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary steps to preserve rights against prior parties unless otherwise agreed.  (b) Except as otherwise provided in subsection (d), if a secured party has possession of collateral:  (1) Reasonable expenses, including the cost of insurance and payment of taxes or other charges, incurred in the custody, preservation, use, or operation of the collateral are chargeable to the debtor and are secured by the collateral;  (2) The risk of accidental loss or damage is on the party having possession of the collateral;  (3) The secured party shall keep the collateral identifiable, but fungible collateral may be commingled; and  (4) The secured party may use or operate the collateral:  (A) For the purpose of preserving the collateral or its value;  (B) As permitted by an order of a court having competent jurisdiction; or  (C) Except in the case of consumer goods, in the manner and to the extent agreed by the debtor.  (c) Except as otherwise provided in subsection (d), a secured party having possession of collateral or control of collateral under section 400.9-104, 400.9-105, 400.9-106 or 400.9-107:  (1) May hold as additional security any proceeds, except money or funds, received from the collateral;  (2) Shall apply money or funds received from the collateral to reduce the secured obligation, unless remitted to the debtor; and  (3) May create a security interest in the collateral.  (d) If the secured party is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor:  (1) Subsection (a) does not apply unless the secured party is entitled under an agreement:  (A) To charge back uncollected collateral; or  (B) Otherwise to full or limited recourse against the debtor or a secondary obligor based on the nonpayment or other default of an account debtor or other obligor on the collateral; and  (2) Subsections (b) and (c) do not apply. ­­-------- (L. 1963 p. 503 § 9-207, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-208 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-208 - Additional duties of secured party having control of collateral.

Effective - 01 Jul 2001   400.9-208. Additional duties of secured party having control of collateral. — (a) This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value.  (b) Within ten days after receiving an authenticated demand by the debtor:  (1) A secured party having control of a deposit account under section 400.9-104(a)(2) shall send to the bank with which the deposit account is maintained an authenticated statement that releases the bank from any further obligation to comply with instructions originated by the secured party;  (2) A secured party having control of a deposit account under section 400.9-104(a)(3) shall:  (A) Pay the debtor the balance on deposit in the deposit account; or  (B) Transfer the balance on deposit into a deposit account in the debtor's name;  (3) A secured party, other than a buyer, having control of electronic chattel paper under section 400.9-105 shall:  (A) Communicate the authoritative copy of the electronic chattel paper to the debtor or its designated custodian;  (B) If the debtor designates a custodian that is the designated custodian with which the authoritative copy of the electronic chattel paper is maintained for the secured party, communicate to the custodian an authenticated record releasing the designated custodian from any further obligation to comply with instructions originated by the secured party and instructing the custodian to comply with instructions originated by the debtor; and  (C) Take appropriate action to enable the debtor or its designated custodian to make copies of or revisions to the authoritative copy which add or change an identified assignee of the authoritative copy without the consent of the secured party;  (4) A secured party having control of investment property under section 400.8-106(d)(2) or 400.9-106(b) shall send to the securities intermediary or commodity intermediary with which the security entitlement or commodity contract is maintained an authenticated record that releases the securities intermediary or commodity intermediary from any further obligation to comply with entitlement orders or directions originated by the secured party; and  (5) A secured party having control of a letter-of-credit right under section 400.9-107 shall send to each person having an unfulfilled obligation to pay or deliver proceeds of the letter of credit to the secured party an authenticated release from any further obligation to pay or deliver proceeds of the letter of credit to the secured party. ­­-------- (L. 1963 p. 503 § 9-208, A.L. 2001 S.B. 288)  Effective 7-01-01
MO Rev Stat § 400.9-209 (2021)
2021 Missouri Revised Statutes|Title XXVI - Trade and Commerce|Chapter 400 - Uniform Commercial Code|Section 400.9-209 - Duties of secured party if account of debtor has been notified of assignment.

Effective - 01 Jul 2001   400.9-209. Duties of secured party if account of debtor has been notified of assignment. — (a) Except as otherwise provided in subsection (c), this section applies if:  (1) There is no outstanding secured obligation; and  (2) The secured party is not committed to make advances, incur obligations, or otherwise give value.  (b) Within ten days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under section 400.9-406(a) an authenticated record that releases the account debtor from any further obligation to the secured party.  (c) This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible. ­­-------- (L. 2001 S.B. 288)  Effective 7-01-01