Impact of Revised Article 9 on Missouri's Fixture Financing Scheme, The

TL;DRAbstract

In 1963, Missouri adopted the Uniform Commercial Code, including Article 9, which integrated the existing state laws governing the use of personal property as security. Since that time, significant revisions of Article 9 have been approved by the Code's national sponsors, representing substantial changes in the law of secured transactions. These revisions have been introduced in the Missouri legislature but have not yet been enacted. It seems reasonably certain that they will be enacted in the near future. The area that has been more extensively revised than any other is Article 9's treatment of security interests in fixtures. These revisions stem from widespread dissatisfaction with the original version's fixture provisions. "Fixtures" is a hybrid classification, encompassing chattels that have been connected with realty in such a manner that, while not losing their separate identity, they would be considered a part of the realty by a disinterested observer. Thus, fixtures have charac

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