SCS/HB 512 - This act adds the definitions of "no commercial value," "private sale" and "public sale" to the chapter. It changes the disclosure requirement for liability insurance to that of casualty insurance. The act clarifies the fact that the time requirements of section 415.415 RSMo, subsection (2) and (4) run concurrently. Further, it corrects the current statute and refers to the proper section for the definition of "commercially reasonable manner" under the Uniform Commercial Code.

The act also requires the operator prior to sale of the occupant's property to only notify those lienholders disclosed by the occupant pursuant to 415.410 RSMo. It also removes the current occupant notice requirement prior to denial of access, allowing the operator to deny access to the leased space once an occupant is in default.
RICHARD MOORE