{"data":{"id":"us-mo/mo.-rev.-stat.-400.9-620","jurisdiction":"us-mo","citation":"Mo. Rev. Stat. § 400.9-620","heading":"Acceptance of collateral in full or partial satisfaction of obligation — compulsory disposition of collateral.","body":"(a) Except as otherwise provided in subsection (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if:\n(1) The debtor consents to the acceptance under subsection (c);\n(2) The secured party does not receive, within the time set forth in subsection (d), a notification of objection to the proposal authenticated by:\n(A) A person to which the secured party was required to send a proposal under section 400.9-621; or\n(B) Any other person, other than the debtor, holding an interest in the collateral subordinate to the security interest that is the subject of the proposal;\n(3) If the collateral is consumer goods, the collateral is not in the possession of the debtor when the debtor consents to the acceptance; and\n(4) Subsection (e) does not require the secured party to dispose of the collateral or the debtor waives the requirement pursuant to section 400.9-624.\n(b) A purported or apparent acceptance of collateral under this section is ineffective unless:\n(1) The secured party consents to the acceptance in an authenticated record or sends a proposal to the debtor; and\n(2) The conditions of subsection (a) are met.\n(c) For purposes of this section:\n(1) A debtor consents to an acceptance of collateral in partial satisfaction of the obligation it secures only if the debtor agrees to the terms of the acceptance in a record authenticated after default; and\n(2) A debtor consents to an acceptance of collateral in full satisfaction of the obligation it secures only if the debtor agrees to the terms of the acceptance in a record authenticated after default or the secured party:\n(A) Sends to the debtor after default a proposal that is unconditional or subject only to a condition that collateral not in the possession of the secured party be preserved or maintained;\n(B) In the proposal, proposes to accept collateral in full satisfaction of the obligation it secures; and\n(C) Does not receive a notification of objection authenticated by the debtor within twenty days after the proposal is sent.\n(d) To be effective under subsection (a)(2), a notification of objection must be received by the secured party:\n(1) In the case of a person to which the proposal was sent pursuant to section 400.9-621, within twenty days after notification was sent to that person; and\n(2) In other cases:\n(A) Within twenty days after the last notification was sent pursuant to section 400.9-621; or\n(B) If a notification was not sent, before the debtor consents to the acceptance under subsection (c).\n(e) A secured party that has taken possession of collateral shall dispose of the collateral pursuant to section 400.9-610 within the time specified in subsection (f) if:\n(1) Sixty percent of the cash price has been paid in the case of a purchase-money security interest in consumer goods; or\n(2) Sixty percent of the principal amount of the obligation secured has been paid in the case of a non-purchase-money security interest in consumer goods.\n(f) To comply with subsection (e), the secured party shall dispose of the collateral:\n(1) Within ninety days after taking possession; or\n(2) Within any longer period to which the debtor and all secondary obligors have agreed in an agreement to that effect entered into and authenticated after default.\n(g) In a consumer transaction, a secured party may not accept collateral in partial satisfaction of the obligation it secures.","path":["Title XXVI - TRADE AND COMMERCE","Chapter 400 - Uniform Commercial Code"],"source_url":"https://revisor.mo.gov/main/OneSection.aspx?section=400.9-620","current_through":"2026 legislative session (floor)","vintage":"","retrieved_at":"2026-09-03T22:23:28Z","sha256":"f2a7df1a019a581b0468338019c96c6664288d20b2bc16d357adb397816024d5","source_id":"us-mo","stale":false,"prev":"us-mo/mo.-rev.-stat.-400.9-619","next":"us-mo/mo.-rev.-stat.-400.9-621"},"notice":"GroundRules: Original legal text. Not legal advice."}