Section 8 Introduction

• Library: Secured Transactions 2005

Counsel for out-of-state lenders whose perfected security interests become subject to Missouri law and counsel for in-state lenders and bankruptcy trustees who are presented with collateral that may still be encumbered by out-of-state liens need to determine the continuing status of perfection. The acid test will come if the borrower files a case under Chapter 7 or Chapter 11 of the Bankruptcy Code. An out-of-state security interest will be scrutinized for any lapse of perfection that a Chapter 7...