Maine Revised Statutes Title 11 Sec. 9-1514 – Assignment of powers of secured party of record
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(1). Except as otherwise provided in subsection (3), an initial financing statement may reflect an assignment of all of the secured party‘s power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party.
[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. 9-1514
- 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.
- File number: means the number assigned to an initial financing statement pursuant to section 9?1519, subsection (1). See Maine Revised Statutes Title 11 Sec. 9-1102
- Filing office: means an office designated in section 9?1501 as the place to file a financing statement. 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
- Fixture filing: includes the filing of a financing statement covering goods of a transmitting utility that are or are to become fixtures. See Maine Revised Statutes Title 11 Sec. 9-1102
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage: means a consensual interest in real property, including fixtures, that secures payment or performance of an obligation. See Maine Revised Statutes Title 11 Sec. 9-1102
- Secured party: means :
(a). See Maine Revised Statutes Title 11 Sec. 9-1102State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Maine Revised Statutes Title 11 Sec. 9-1102
(2). Except as otherwise provided in subsection (3), a secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement that:
(a). Identifies, by its file number, the initial financing statement to which it relates; [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(b). Provides the name of the assignor; and [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(c). Provides the name and mailing address of the assignee. [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). An assignment of record of a security interest in a fixture covered by a record of a mortgage that is effective as a financing statement recorded as a fixture filing under section 9-1502, subsection (3) may be made only by an assignment of record of the mortgage in the manner provided by the laws of this State other than this Title.
[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).