Section 3 Notice of Lien Procedure

• Library: Secured Transactions 2005

It is in perfection of security interests that the motor vehicle statutes most diverge from Article 9. The Missouri legislature has decreed that §§ 301.600–301.660, RSMo 2000 and Supp. 2004, create a scheme for perfecting motor vehicle liens that is exclusive of all other methods, except when the vehicle serves as inventory of a dealer in vehicles. Section 400.9-311(a)(2) and (d), RSMo Supp. 2004; § 301.650.2, RSMo 2000. Thus, unless the vehicle constitutes “inventory,” attempting to perfect a motor vehicle lien by filing a financing statement (UCC-1) will fail. Section...