(1). A person may file an initial financing statement, amendment that adds collateral covered by a financing statement or amendment that adds a debtor to a financing statement only if:
(a). The debtor authorizes the filing in an authenticated record or pursuant to subsection (2) or (3); or [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(b). The person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]

[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]

Terms Used In Maine Revised Statutes Title 11 Sec. 9-1509

  • Agricultural lien: means an interest, other than a security interest, in farm products:
(a). See Maine Revised Statutes Title 11 Sec. 9-1102
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Collateral: includes :
  • (a). See Maine Revised Statutes Title 11 Sec. 9-1102
  • Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Maine Revised Statutes Title 11 Sec. 9-1102
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • New debtor: means a person that becomes bound as debtor under section 9?1203, subsection (4) by a security agreement previously entered into by another person. See Maine Revised Statutes Title 11 Sec. 9-1102
  • Proceeds: means the following property:
  • (a). See Maine Revised Statutes Title 11 Sec. 9-1102
  • Secured party: means :
  • (a). See Maine Revised Statutes Title 11 Sec. 9-1102
  • Security agreement: means an agreement that creates or provides for a security interest. See Maine Revised Statutes Title 11 Sec. 9-1102
  • Termination statement: means an amendment of a financing statement that:
  • (2). By authenticating or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering:
    (a). The collateral described in the security agreement; and [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
    (b). Property that becomes collateral under section 9?1315, subsection (1), paragraph (b), whether or not the security agreement expressly covers proceeds. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]

    [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]

    (3). By acquiring collateral in which a security interest or agricultural lien continues under section 9?1315, subsection 1, paragraph (a), a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under section 9?1315, subsection (1), paragraph (b).

    [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]

    (4). A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if:
    (a). The secured party of record authorizes the filing; or [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
    (b). The amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by section 9?1513, subsection (1) or (3), the debtor authorizes the filing and the termination statement indicates that the debtor authorized it to be filed. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]

    [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]

    (5). If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (4).

    [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]

    SECTION HISTORY

    PL 1999, c. 699, §A2 (NEW). PL 1999, c. 699, §A4 (AFF).