An Act To Amend Article 9-A of the Uniform Commercial Code
Maine Legislature, Session 126, LD 1384
Committee: Judiciary
Sponsors: FREY
Amends: 11 MRSA §9

Legislative Document 
No. 1384 
H.P. 985 
House of Representatives, April 9, 2013 
An Act To Amend Article 9-A of the Uniform Commercial Code 
(EMERGENCY) 
Reference to the Committee on Judiciary suggested and ordered printed. 
MILLICENT M. MacFARLAND 
Clerk 
Presented by Representative FREY of Bangor. 
Emergency preamble. Whereas, acts and resolves of the Legislature do not 
become effective until 90 days after adjournment unless enacted as emergencies; and 
Whereas, changes to Article 9-A of the Uniform Commercial Code need to be 
effective on July 1, 2013 to be consistent across all the states enacting the 2010 
amendments; and 
Whereas, in the judgment of the Legislature, these facts create an emergency within 
the meaning of the Constitution of Maine and require the following legislation as 
immediately necessary for the preservation of the public peace, health and safety; now, 
therefore, 
Be it enacted by the People of the State of Maine as follows: 
PART A 
Sec. A-1.  11 MRSA §9-1102, sub-§(7), ¶(b), as enacted by PL 1999, c. 699, Pt. 
A, §2 and affected by §4, is repealed and the following enacted in its place: 
(b).  With present intent to adopt or accept a record, to attach to or logically associate 
with the record on electronic sound, symbol or process. 
Sec. A-2.  11 MRSA §9-1102, sub-§(10), as enacted by PL 1999, c. 699, Pt. A, 
§2 and affected by §4, is amended to read: 
(10).  "Certificate of title" means a certificate of title with respect to which a statute 
provides for the security interest in question to be indicated on the certificate as a 
condition or result of the security interest's obtaining priority over the rights of a lien 
creditor with respect to the collateral.  "Certificate of title" includes another record 
maintained as an alternative to a certificate of title by the governmental unit that issues 
certificate of title if a statute permits the security interest in question to be indicated on 
the record as a condition or result of the security interest's obtaining priority over the 
rights of a lien creditor with respect to the collateral. 
Sec. A-3.  11 MRSA §9-1102, sub-§(46), as enacted by PL 1999, c. 699, Pt. A, 
§2 and affected by §4, is amended to read: 
(46).  "Health-care-insurance receivable" means an interest in or claim under a policy 
of insurance that is a right to payment of a monetary obligation for health-care goods or 
services provided or to be provided. 
Sec. A-4.  11 MRSA §9-1102, sub-§(50), as enacted by PL 1999, c. 699, Pt. A, 
§2 and affected by §4, is amended to read: 
(50).  "Jurisdiction of organization," with respect to a registered organization, means 
the jurisdiction under whose law the organization is formed or organized. 
Sec. A-5.  11 MRSA §9-1102, sub-§(67-A) is enacted to read: 
(67-A).  "Public organic record" means a record that is available to the public for 
inspection and is: 
(a).  A record consisting of the record initially filed with or issued by a state or the 
United States to form or organize an organization and any record filed with or issued 
by the state or the United States that amends or restates the initial record; 
(b).  An organic record of a business trust consisting of the record initially filed with 
a state and any record filed with the state that amends or restates the initial record, if 
a statute of the state governing business trusts requires that the record be filed with 
the state; or 
(c).  A record consisting of legislation enacted by the legislature of a state or the 
Congress of the United States that forms or organizes an organization, any record 
amending the legislation and any record filed with or issued by the state or the United 
States that amends or restates the name of the organization. 
Sec. A-6.  11 MRSA §9-1102, sub-§(70), as enacted by PL 1999, c. 699, Pt. A, 
§2 and affected by §4, is amended to read: 
(70).  "Registered organization" means an organization formed or organized solely 
under the law of a single state or of the United States and as to which the state or the 
United States must maintain a public record showing the organization to have been 
organized by the filing of a public organic record with, the issuance of a public organic 
record by or the enactment of legislation by the state or the United States.  "Registered 
organization"  includes a business trust that is formed or organized under the law of a 
single state if a statute of the state governing business trusts requires that the business 
trust's organic record be filed with the state. 
Sec. A-7.  11 MRSA §9-1102, sub-§(72), ¶(f), as enacted by PL 1999, c. 699, Pt. 
A, §2 and affected by §4, is amended to read: 
(f).  A person that holds a security interest arising under section 2-401, 2-505, 2-711, 
subsection (3), 2-508 2-1508, subsection (5), 4-210, or 5-118. 
Sec. A-8.  11 MRSA §9-1102, sub-§(80), ¶(d), as amended by PL 2009, c. 324, 
Pt. B, §28 and affected by §48, is further amended to read: 
(d).  Transmitting or producing and transmitting electricity, steam, gas or water. 
"Control" as provided in section 7-1106 and the following definitions in other 
Articles apply to this Article: 
"Applicant" 
Section 5-1102. 
"Beneficiary" 
Section 5-1102. 
"Broker" 
Section 8-1102. 
"Certificated security" 
Section 8-1102. 
"Check" 
Section 3-1104. 
"Clearing corporation" 
Section 8-1102. 
"Contract for sale" 
Section 2-106. 
"Customer" 
Section 4-104. 
Sec. A-9.  11 MRSA §9-1105, first ¶, as enacted by PL 1999, c. 699, Pt. A, §2 
and affected by §4, is amended to read: 
A secured party has control of electronic chattel paper if a system employed for 
evidencing the transfer of interests in the chattel paper reliably establishes the secured 
party as the person to which the chattel paper was assigned.  A system satisfies this 
section if the record or records comprising the chattel paper are created, stored and 
assigned in such a manner that: 
Sec. A-10.  11 MRSA §9-1105, sub-§(4), as enacted by PL 1999, c. 699, Pt. A, 
§2 and affected by §4, is amended to read: 
(4).  Copies or revisions amendments that add or change an identified assignee of the 
authoritative copy can be made only with the participation consent of the secured party; 
"Entitlement holder" 
Section 8-1102. 
"Financial asset" 
Section 8-1102. 
"Holder in due course" 
Section 3-1302. 
"Issuer" (with respect to a letter of 
credit or letter-of-credit right) 
Section 5-1102. 
"Issuer" (with respect to a security) 
Section 8-1201. 
"Issuer" (with respect to documents of 
title) 
Section 7-1102. 
"Lease" 
Section 2-1103. 
"Lease agreement" 
Section 2-1103. 
"Lease contract" 
Section 2-1103. 
"Leasehold interest" 
Section 2-1103. 
"Lessee" 
Section 2-1103. 
"Lessee in ordinary course of 
business" 
Section 2-1103. 
"Lessor" 
Section 2-1103. 
"Lessor's residual interest" 
Section 2-1103. 
"Letter of credit" 
Section 5-1102. 
"Merchant" 
Section 2-104. 
"Negotiable instrument" 
Section 3-1104. 
"Nominated person" 
Section 5-1102. 
"Note" 
Section 3-1104. 
"Proceeds of a letter of credit" 
Section 5-114. 
"Prove" 
Section 3-1103. 
"Sale" 
Section 2-106. 
"Securities account" 
Section 8-1501. 
"Securities intermediary" 
Section 8-1102. 
"Security" 
Section 8-1102. 
"Security certificate" 
Section 8-1102. 
"Security entitlement" 
Section 8-1102. 
"Uncertificated security" 
Section 8-1102. 
Sec. A-11.  11 MRSA §9-1105, sub-§(6), as enacted by PL 1999, c. 699, Pt. A, 
§2 and affected by §4, is amended to read: 
(6).  Any revision amendment of the authoritative copy is readily identifiable as an 
authorized or unauthorized revision. 
Sec. A-12.  11 MRSA §9-1307, sub-§(6), ¶(b), as enacted by PL 1999, c. 699, 
Pt. A, §2 and affected by §4, is amended to read: 
(b).  In the state that the registered organization, branch or agency designates, if the 
law of the United States authorizes the registered organization, branch or agency to 
designate its state of location, including by designating its main office, home office or 
other corporate office; or 
Sec. A-13.  11 MRSA §9-1311, sub-§(1), ¶(c), as enacted by PL 1999, c. 699, 
Pt. A, §2 and affected by §4, is amended to read: 
(c).  A certificate-of-title statute of another jurisdiction that provides for a security 
interest to be indicated on the a certificate of title as a condition or result of the 
security interest's obtaining priority over the rights of a lien creditor with respect to 
the property. 
Sec. A-14.  11 MRSA §9-1316, as enacted by PL 1999, c. 699, Pt. A, §2 and 
affected by §4, is amended to read: 
§9-1316.  Effect of change in governing law 
(1).  A security interest perfected pursuant to the law of the jurisdiction designated in 
section 9-1301, subsection (1) or section 9-1305, subsection (3) remains perfected until 
the earliest of: 
(a).  The time perfection would have ceased under the law of that jurisdiction; 
(b).  The expiration of 4 months after a change of the debtor's location to another 
jurisdiction; 
(c).  The expiration of one year after a transfer of collateral to a person that thereby 
becomes a debtor and is located in another jurisdiction; or 
(d).  The expiration of one year after a new debtor located in another jurisdiction 
becomes bound under section 9-1203, subsection (4). 
(2).  If a security interest described in subsection (1) becomes perfected under the law 
of the other jurisdiction before the earliest time or event described in that subsection, it 
remains perfected thereafter.  If the security interest does not become perfected under the 
law of the other jurisdiction before the earliest time or event, it becomes unperfected and 
is deemed never to have been perfected as against a purchaser of the collateral for value. 
(3).  A possessory security interest in collateral, other than goods covered by a 
certificate of title and collateral, as extracted, consisting of goods, remains continuously 
perfected if: 
(a).  The collateral is located in one jurisdiction and subject to a security interest 
perfected under the law of that jurisdiction; 
(b).  Thereafter the collateral is brought into another jurisdiction; and 
(c).  Upon entry into the other jurisdiction, the security interest is perfected under the 
law of the other jurisdiction. 
(4).  Except as otherwise provided in subsection (5), a security interest in goods 
covered by a certificate of title that is perfected by any method under the law of another 
jurisdiction when the goods become covered by a certificate of title from this State 
remains perfected until the security interest would have become unperfected under the 
law of the other jurisdiction had the goods not become so covered. 
(5).  A security interest described in subsection (4) becomes unperfected as against a 
purchaser of the goods for value and is deemed never to have been perfected as against a 
purchaser of the goods for value if the applicable requirements for perfection under 
section 9-1311, subsection (2) or section 9-1313 are not satisfied before the earlier of: 
(a).  The time the security interest would have become unperfected under the law of 
the other jurisdiction had the goods not become covered by a certificate of title from 
this State; or 
(b).  The expiration of 4 months after the goods had become so covered. 
(6).  A security interest in deposit accounts, letter-of-credit rights or investment 
property that is perfected under the law of the bank's jurisdiction, the issuer's jurisdiction, 
a nominated person's jurisdiction, the securities intermediary's jurisdiction or the 
commodity intermediary's jurisdiction, as applicable, remains perfected until the earlier 
of: 
(a).  The time the security interest would have become unperfected under the law of 
that jurisdiction; or 
(b).  The expiration of 4 months after a change of the applicable jurisdiction to 
another jurisdiction. 
(7).  If a security interest described in subsection (6) becomes perfected under the law 
of the other jurisdiction before the earlier of the time or the end of the period described in 
that subsection, it remains perfected thereafter.  If the security interest does not become 
perfected under the law of the other jurisdiction before the earlier of that time or the end 
of that period, it becomes unperfected and is deemed never to have been perfected as 
against a purchaser of the collateral for value. 
(8).  The following rules apply to collateral to which a security interest attaches 
within 4 months after the debtor changes its location to another jurisdiction. 
(a).  A financing statement filed before the change pursuant to the law of the 
jurisdiction designated in section 9-1301, subsection (1) or 9-1305, subsection (3) is 
effective to perfect a security interest in the collateral if the financing statement 
would have been effective to perfect a security interest in the collateral had the debtor 
not changed its location. 
(b).  If a security interest perfected by a financing statement that is effective under 
paragraph (a) becomes perfected under the law of the other jurisdiction before the 
earlier of the time the financing statement would have become ineffective under the 
law of the jurisdiction designated in section 9-1301, subsection (1) or 9-1305, 
subsection (3) or the expiration of the 4-month period, it remains perfected thereafter.  
If the security interest does not become perfected under the law of the other 
jurisdiction before the earlier time or event, it becomes unperfected and is deemed 
never to have been perfected as against a purchaser of the collateral for value. 
(9).  If a financing statement naming an original debtor is filed pursuant to the law of 
the jurisdiction designated in section 9-1301, subsection (1) or 9-1305, subsection (3) and 
the new debtor is located in another jurisdiction, the following rules apply. 
(a).  The financing statement is effective to perfect a security interest in collateral 
acquired by the new debtor before, and within 4 months after, the new debtor 
becomes bound under section 9-1203, subsection (4), if the financing statement 
would have been effective to perfect a security interest in the collateral had the 
collateral been acquired by the original debtor. 
(b).  A security interest perfected by the financing statement and that becomes 
perfected under the law of the other jurisdiction before the earlier of the time the 
financing statement would have become ineffective under the law of the jurisdiction 
designated in section 9-1301, subsection (1) or 9-1305, subsection (3) or the 
expiration of the 4-month period remains perfected thereafter.  A security interest that 
is perfected by the financing statement but that does not become perfected under the 
law of the other jurisdiction before the earlier time or event becomes unperfected and 
is deemed never to have been perfected as against a purchaser of the collateral for 
value. 
Sec. A-15.  11 MRSA §9-1317, sub-§(2), as amended by PL 2009, c. 324, Pt. B, 
§41 and affected by §48, is further amended to read: 
(2).  Except as otherwise provided in subsection (5), a buyer, other than a secured 
party, of tangible chattel paper, tangible documents, goods, instruments or a security 
certificate certificated security takes free of a security interest or agricultural lien if the 
buyer gives value and receives delivery of the collateral without knowledge of the 
security interest or agricultural lien and before it is perfected. 
Sec. A-16.  11 MRSA §9-1317, sub-§(4), as amended by PL 2009, c. 324, Pt. B, 
§42 and affected by §48, is further amended to read: 
(4).  A licensee of a general intangible or a buyer, other than a secured party, of 
accounts, electronic chattel paper, electronic documents, general intangibles or 
investment property collateral other than tangible chattel paper, tangible documents, 
goods, instruments or a certificated security takes free of a security interest if the licensee 
or buyer gives value without knowledge of the security interest and before it is perfected. 
Sec. A-17.  11 MRSA §9-1326, as enacted by PL 1999, c. 699, Pt. A, §2 and 
affected by §4, is amended to read: 
§9-1326.  Priority of security interests created by new debtor 
(1).  Subject to subsection (2), a security interest that is created by a new debtor that 
is collateral in which the new debtor has or acquires rights and would be ineffective to 
perfect the security interest but for the application of section 9-1316, subsection (9), 
paragraph (a) or section 9-1508 is perfected solely by a filed financing statement that is 
effective solely under section 9-1508 in collateral in which a new debtor has or acquires 
rights is subordinate to a security interest in the same collateral that is perfected other 
than by such a filed financing statement that is effective solely under section 9-1508. 
(2).  The other provisions of this Part determine the priority among conflicting 
security interests in the same collateral perfected by filed financing statements that are 
effective solely under section 9-1508 described in subsection (1).  However, if the 
security agreements to which a new debtor became bound as debtor were not entered into 
by the same original debtor, the conflicting security interests rank according to priority in 
time of the new debtor's having become bound. 
Sec. A-18.  11 MRSA §9-1406, sub-§(5), as enacted by PL 1999, c. 699, Pt. A, 
§2 and affected by §4, is amended to read: 
(5).  Subsection (4) does not apply to the sale of a payment intangible or promissory 
note other than a sale pursuant to a disposition under section 9-1610 or an acceptance of 
collateral under section 9-1620. 
Sec. A-19.  11 MRSA §9-1408, sub-§(2), as enacted by PL 1999, c. 699, Pt. A, 
§2 and affected by §4, is amended to read: 
(2).  Subsection (1) applies to a security interest in a payment intangible or 
promissory note only if the security interest arises out of a sale of the payment intangible 
or promissory note, other than a sale pursuant to a disposition under section 9-1610 or 
acceptance of collateral under section 9-1620. 
Sec. A-20.  11 MRSA §9-1503, as enacted by PL 1999, c. 699, Pt. A, §2 and 
affected by §4, is amended to read: 
§9-1503.  Name of debtor and secured party 
(1).  A financing statement sufficiently provides the name of the debtor: 
(a).  If Except as otherwise provided in paragraph (c), if the debtor is a registered 
organization or the collateral is held in a trust that is a registered organization, only if 
the financing statement provides the name of the debtor indicated that is stated to be 
the registered organization's name on the public organic record of most recently filed 
with or issued or enacted by the debtor's registered organization's jurisdiction of 
organization that shows the debtor to have been organized purports to state, amend or 
restate the registered organization's name; 
(b).  If Subject to subsection (6), if the debtor is a decedent's estate collateral is being 
administered by the general representative of a decedent, only if the financing 
statement provides, as the name of the debtor, the name of the decedent and, in a 
separate part of the financing statement, indicates that the debtor is an estate 
collateral is being administered by a personal representative; 
(c).  If  the debtor is a trust or a trustee acting with respect to property held in trust 
collateral is held in a trust that is not a registered organization, only if the financing 
statement: 
(i)  Provides, as the name specified for the trust in its organic documents or, if no 
name is specified, provides the name of the settlor and additional information 
sufficient to distinguish of the debtor from other trusts having one or more of the 
same settlors; and: 
(A) If the organic record of the trust specifies a name for the trust, the name 
specified; or 
(B) If the organic record of the trust does not specify a name for the trust, the 
name of the settlor or testator; and 
(ii)  Indicates, in the debtor's name or otherwise, that the debtor is a trust or is a 
trustee acting with respect to property held in trust; and In a separate part of the 
financing statement: 
(A) If the name is provided in accordance with subparagraph (i), division 
(A), indicates that the collateral is held in trust; or 
(B)  If the name is provided in accordance with subparagraph (i), division 
(B), provides additional information sufficient to distinguish the trust from 
other trusts having one or more of the same settlors or the same testator and 
indicates that the collateral is held in a trust, unless the additional information 
so indicates; 
(c-1).  If the debtor is an individual, only if the financing statement: 
(i) Provides the individual name of the debtor; 
(ii) Provides the surname and first name of the debtor; or 
(iii) Subject to subsection (7), provides the name of the individual that is 
indicated on a driver's license or nondriver identification card that this State has 
issued to the individual and that has not expired; and 
(d).  In other cases: 
(i)  If the debtor has a name, only if it the financing statement provides the 
individual or organizational name of the debtor; and 
(ii)  If the debtor does not have a name, only if it the financing statement  
provides the names of the partners, members, associates or other persons 
comprising the debtor, in a manner so that each name provided would be 
sufficient if the person named were the debtor. 
(2).  A financing statement that provides the name of the debtor in accordance with 
subsection (1) is not rendered ineffective by the absence of: 
(a).  A trade name or other name of the debtor; or 
(b).  Unless required under subsection (1), paragraph (d), subparagraph (ii), names of 
partners, members, associates or other persons comprising the debtor. 
(3).  A financing statement that provides only the debtor's trade name does not 
sufficiently provide the name of the debtor. 
(4).  Failure to indicate the representative capacity of a secured party or 
representative of a secured party does not affect the sufficiency of a financing statement. 
(5).  A financing statement may provide the name of more than one debtor and the 
name of more than one secured party. 
(6).  The name of the decedent as indicated on the order appointing the personal 
representative of the decedent issued by the court having jurisdiction over the collateral is 
sufficient as the name of the decedent under subsection (1), paragraph (b). 
(7).  If this State has issued to an individual more than one driver's license or 
nondriver identification card of a kind described in subsection (1), paragraph (c-1), 
subparagraph (iii), the one that was issued most recently is the one to which subsection 
(1), paragraph (c-1), subparagraph (iii) refers. 
(8).  In this section, "name of the settlor or testator" means: 
(a).  If the settlor is a registered organization, the name that is stated to be the settlor's 
name on the public organic record most recently filed with or issued or enacted by the 
settlor's jurisdiction of organization that purports to state, amend or restate the 
settlor's name; or 
(b).  In other cases, the name of the settlor or testator indicated in the trust's organic 
record. 
Sec. A-21.  11 MRSA §9-1507, sub-§(3), as enacted by PL 1999, c. 699, Pt. A, 
§2 and affected by §4, is repealed and the following enacted in its place: 
(3).  If the name that a filed financing statement provides for a debtor becomes 
insufficient as the name of the debtor under section 9-1503, subsection (1) so that the 
financing statement becomes seriously misleading under section 9-1506: 
(a).  The financing statement is effective to perfect a security interest in collateral 
acquired by the debtor before, or within 4 months after, the filed financing statement 
becomes seriously misleading; and 
(b).  The financing statement is not effective to perfect a security interest in collateral 
acquired by the debtor more than 4 months after the filed financing statement 
becomes seriously misleading, unless an amendment to the financing statement that 
renders the financing statement not seriously misleading is filed within 4 months after 
the financing statement became seriously misleading. 
Sec. A-22.  11 MRSA §9-1515, sub-§(6), as enacted by PL 1999, c. 699, Pt. A, 
§2 and affected by §4, is amended to read: 
(6).  If a debtor is a transmitting utility and a filed initial financing statement so 
indicates, the financing statement is effective until a termination statement is filed. 
Sec. A-23.  11 MRSA §9-1516, sub-§(2), ¶(c), as amended by PL 2001, c. 286, 
§6, is further amended to read: 
(c).  The filing office is unable to index the record because: 
(i)  In the case of an initial financing statement, the record does not provide a 
name for the debtor or, for a record recorded in the county registry of deeds, the 
record does not provide a name for the debtor and the secured party; 
(ii)  In the case of an amendment or correction information statement, the record: 
(A)  Does not identify the initial financing statement as required by section 
9-1512 or 9-1518, as applicable; or 
(B)  Identifies an initial financing statement whose effectiveness has lapsed 
under section 9-1515; 
(iii)  In the case of an initial financing statement that provides the name of a 
debtor identified as an individual or an amendment that provides a name of a 
debtor identified as an individual that was not previously provided in the 
financing statement to which the record relates, the record does not identify the 
debtor's last name surname; or 
(iv)  In the case of a record recorded in the county registry of deeds, the record 
does not provide a sufficient description of the real property to which it relates; 
Sec. A-24.  11 MRSA §9-1516, sub-§(2), ¶(e), as enacted by PL 1999, c. 699, 
Pt. A, §2 and affected by §4, is amended to read: 
(e).  In the case of an initial financing statement or an amendment that provides a 
name of a debtor that was not previously provided in the financing statement to 
which the amendment relates, the record does not: 
(i)  Provide a mailing address for the debtor; or 
(ii)  Indicate whether the name provided as the name of the debtor is an 
individual or an organization; or 
(iii)  If the financing statement indicates that the debtor is an organization, 
provide: 
(A)  A type of organization for the debtor; 
(B)  A jurisdiction of organization for the debtor; or 
(C)  An organizational identification number for the debtor or indicate that 
the debtor has none; 
Sec. A-25.  11 MRSA §9-1518, as amended by PL 2001, c. 286, §7, is further 
amended to read: 
§9-1518.  Claim concerning inaccurate or wrongfully filed record 
(1).  A person may file in the filing office a correction an information statement with 
respect to a record indexed there under the person's name if the person believes that the 
record is inaccurate or was wrongfully filed. 
(2).  A correction An information statement under subsection (1) must: 
(a).  Identify the record to which it relates by: 
(i)  The file number assigned to the initial financing statement to which the record 
relates; and 
(ii)  If the correction information statement relates to a record recorded in the 
county registry of deeds, the book and page in which the initial financing 
statement was recorded, the name of the debtor and the secured party and the 
information specified in section 9-1502, subsection (2); 
(b).  Indicate that it is a correction an information statement; and 
(c).  Provide the basis for the person's belief that the record is inaccurate and indicate 
the manner in which the person believes the record should be amended to cure any 
inaccuracy or provide the basis for the person's belief that the record was wrongfully 
filed. 
(2-A).  A person may file in the filing office an information statement with respect to 
a record filed there if the person is a secured party of record with respect to the financing 
statement to which the record relates and believes that the person that filed the record was 
not entitled to do so under section 9-1509, subsection (4). 
(2-B).  An information statement under subsection (2-A) must: 
(a).  Identify the record to which it relates by: 
(i)  The file number assigned to the initial financing statement to which the record 
relates; and 
(ii)  If the information statement relates to a record recorded in the county 
registry of deeds, the book and page in which the initial financing statement was 
recorded, the name of the debtor and the secured party and the information 
specified in section 9-1502, subsection (2); 
(b).  Indicate that it is an information statement; and 
(c).  Provide the basis for the person's belief that the person that filed the record was 
not entitled to do so under section 9-1509, subsection (4). 
(3).  The filing of a correction an information statement does not affect the 
effectiveness of an initial financing statement or other filed record. 
Sec. A-26.  11 MRSA §9-1521, as enacted by PL 1999, c. 699, Pt. A, §2 and 
affected by §4, is repealed and the following enacted in its place: 
§9-1521.  Uniform form of written financing statement and amendment 
(1).  Except for a reason set forth in section 9-1516, subsection (2), a filing office that 
accepts written records may not refuse to accept a written initial financing statement in a 
form and format: 
(a).  Approved by the International Association of Commercial Administrators or 
successor organization; or 
(b).  Adopted by rule adopted by the Secretary of State. 
(2).  Except for a reason set forth in section 9-1516, subsection (2), a filing office that 
accepts written records may not refuse to accept a written record in a form and format: 
(a).  Approved by the International Association of Commercial Administrators or 
successor organization; or 
(b).  Adopted by rule adopted by the Secretary of State. 
Sec. A-27.  11 MRSA §9-1607, sub-§(2), ¶(b), as enacted by PL 1999, c. 699, 
Pt. A, §2 and affected by §4, is amended to read: 
(b).  The secured party's sworn affidavit in recordable form stating that: 
(i)  A default has occurred with respect to the obligation by the mortgage; and 
(ii)  The secured party is entitled to enforce the mortgage nonjudicially. 
PART B 
Sec. B-1.  Savings clause. 
1.  Transactions or liens before July 1, 2013.  Except as otherwise provided in this 
Part, this Act applies to a transaction or lien within its scope, even if the transaction or 
lien was entered into or created before July 1, 2013. 
2.  Proceedings before July 1, 2013.  This Act does not affect an action, case or 
proceeding commenced before July 1, 2013. 
Sec. B-2.  Security interest perfected before effective date. 
1.  Continuing perfection:  perfection requirements satisfied.  A security interest 
that is a perfected security interest immediately before July 1, 2013 is a perfected security 
interest under the Maine Revised Statutes, Title 11, Article 9-A as amended by this Act if, 
on July 1, 2013, the applicable requirements for attachment and perfection under Title 11, 
Article 9-A as amended by this Act are satisfied without further action. 
2.  Continuing perfection:  perfection requirements not satisfied.  Except as 
otherwise provided in section 4 of this Part, if, immediately before July 1, 2013, a 
security interest is a perfected security interest, but the applicable requirements for 
perfection under Title 11, Article 9-A as amended by this Act are not satisfied on July 1, 
2013, the security interest remains perfected thereafter only if the applicable requirements 
for perfection under Title 11, Article 9-A as amended by this Act are satisfied by July 1, 
2014. 
Sec. B-3.  Security interest unperfected before effective date.  A security 
interest that is an unperfected security interest immediately before July 1, 2013 becomes a 
perfected security interest: 
1.  Applicable requirements satisfied on or before July 1, 2013.  Without further 
action on July 1, 2013 if the applicable requirements for perfection under the Maine 
Revised Statutes, Title 11, Article 9-A as amended by this Act are satisfied on or before 
July 1, 2013; or 
2.  Applicable requirements satisfied after July 1, 2013.  When the applicable 
requirements for perfection are satisfied if the requirements are satisfied after that time. 
Sec. B-4.  Effectiveness of action taken before effective date. 
1.  Filing before July 1, 2013.  The filing of a financing statement before July 1, 
2013 is effective to perfect a security interest to the extent the filing would satisfy the 
applicable requirements for perfection under the Maine Revised Statutes, Title 11, Article 
9-A as amended by this Act. 
2.  When filing before July 1, 2013 becomes ineffective.  This Act does not render 
ineffective an effective financing statement that, before July 1, 2013, is filed and satisfies 
the applicable requirements for perfection under the law of the jurisdiction governing 
perfection as provided in Title 11, Article 9-A as it existed before amendment.  However, 
except as otherwise provided in subsections 3 and 4 and section 5 of this Part, the 
financing statement ceases to be effective: 
A.  If the financing statement is filed in this State, at the time the financing statement 
would have ceased to be effective had this Act not taken effect; or 
B.  If the financing statement is filed in another jurisdiction, at the earlier of: 
(1)  The time the financing statement would have ceased to be effective under the 
law of that jurisdiction; and 
(2)  June 30, 2018. 
3.  Continuation statement.  The filing of a continuation statement after July 1, 2013 
does not continue the effectiveness of a financing statement filed before July 1, 2013.  
However, upon the timely filing of a continuation statement after July 1, 2013 and in 
accordance with the law of the jurisdiction governing perfection as provided in Title 11, 
Article 9-A as amended by this Act, the effectiveness of a financing statement filed in the 
same office in that jurisdiction before July 1, 2013 continues for the period provided by 
the law of that jurisdiction. 
4.  Application to transmitting utility financing statement.  Subsection 2, 
paragraph B, subparagraph (2) applies to a financing statement that, before July 1, 2013, 
is filed against a transmitting utility and satisfies the applicable requirements for 
perfection under the law of the jurisdiction governing perfection as provided in Title 11, 
Article 9-A as it existed before amendment, only to the extent that Title 11, Article 9-A as 
amended by this Act provides that the law of a jurisdiction other than the jurisdiction in 
which the financing statement is filed governs perfection of a security interest in 
collateral covered by the financing statement. 
5.  Application of Title 11, Article 9-A, part 5.  A financing statement that includes 
a financing statement filed before July 1, 2013 and a continuation statement filed after 
July 1, 2013 is effective only to the extent that it satisfies the requirements of Title 11, 
Article 9-A, part 5 as amended by this Act for an initial financing statement.  A financing 
statement that indicates that the debtor is a decedent's estate indicates that the collateral is 
being administered by a personal representative within the meaning of Title 11, section 
9-1503, subsection (1), paragraph (b) as amended by this Act.  A financing statement that 
indicates that the debtor is a trust or is a trustee acting with respect to property held in 
trust indicates that the collateral is held in a trust within the meaning of Title 11, section 
9-1503, subsection (1), paragraph (c) as amended by this Act. 
Sec. B-5.  When initial financing statement suffices to continue 
effectiveness of financing statement. 
1.  Initial financing statement in lieu of continuation statement.  The filing of an 
initial financing statement in the office specified in the Maine Revised Statutes, Title 11, 
section 9-1501 continues the effectiveness of a financing statement filed before July 1, 
2013 if: 
A.  The filing of an initial financing statement in that office would be effective to 
perfect a security interest under Title 11, Article 9-A as amended by this Act; 
B.  The pre-July 1, 2013 financing statement was filed in an office in another state; 
and 
C.  The initial financing statement satisfies subsection 3. 
2.  Period of continued effectiveness.  The filing of an initial financing statement 
under subsection 1 continues the effectiveness of the pre-July 1, 2013 financing 
statement: 
A.  If the initial financing statement is filed before July 1, 2013, for the period 
provided in unamended Title 11, section 9-1515 with respect to an initial financing 
statement; and 
B.  If the initial financing statement is filed after July 1, 2013, for the period provided 
in Title 11, section 9-1515 as amended by this Act with respect to an initial financing 
statement. 
3.  Requirements for initial financing statement under subsection 1.  To be 
effective for purposes of subsection 1, an initial financing statement must: 
A.  Satisfy the requirements of Title 11, Article 9-A, part 5 as amended by this Act 
for an initial financing statement; 
B.  Identify the pre-July 1, 2013 financing statement by indicating the office in which 
the financing statement was filed and providing the dates of filing and file numbers, if 
any, of the financing statement and of the most recent continuation statement filed 
with respect to the financing statement; and 
C.  Indicate that the pre-effective-date financing statement remains effective. 
Sec. B-6.  Amendment of pre-effective-date financing statement. 
1.  Pre-July 1, 2013 financing statement.  As used in this Part, "pre-July 1, 2013 
financing statement" means a financing statement filed before July 1, 2013. 
2.  Applicable law.  After July 1, 2013, a person may add or delete collateral covered 
by, continue or terminate the effectiveness of or otherwise amend the information 
provided in a pre-July 1, 2013 financing statement only in accordance with the law of the 
jurisdiction governing perfection as provided in the Maine Revised Statutes, Title 11, 
Article 9-A as amended by this Act.  However, the effectiveness of a pre-July 1, 2013 
financing statement also may be terminated in accordance with the law of the jurisdiction 
in which the financing statement is filed. 
3.  Method of amending: general rule.  Except as otherwise provided in subsection 
4, if the law of this State governs perfection of a security interest, the information in a 
pre-July 1, 2013 financing statement may be amended after July 1, 2013 only if: 
A.  The pre-July 1, 2013 financing statement and an amendment are filed in the office 
specified in Title 11, section 9-1501; 
B.  An amendment is filed in the office specified in Title 11, section 9-1501 
concurrently with, or after the filing in that office of, an initial financing statement 
that satisfies section 5, subsection 3 of this Part; or 
C.  An initial financing statement that provides the information as amended and 
satisfies section 5, subsection 3 of this Part is filed in the office specified in Title 11, 
section 9-1501. 
4.  Method of amending: continuation.  If the law of this State governs perfection 
of a security interest, the effectiveness of a pre-July 1, 2013 financing statement may be 
continued only under section 4, subsection 3 or section 5 of this Part. 
5.  Method of amending: additional termination rule.  Whether or not the law of 
this State governs perfection of a security interest, the effectiveness of a pre-July 1, 2013 
financing statement filed in this State may be terminated after July 1, 2013 by filing a 
termination statement in the office in which the pre-July 1, 2013 financing statement is 
filed, unless an initial financing statement that satisfies section 5, subsection 3 of this Part 
has been filed in the office specified by the law of the jurisdiction governing perfection as 
provided in Title 11, Article 9-A as amended by this Act as the office in which to file a 
financing statement. 
Sec. B-7.  Person entitled to file initial financing statement or continuation 
statement.  A person may file an initial financing statement or a continuation statement 
under this Part if: 
1.  Authorization by secured party.  The secured party of record authorizes the 
filing; and 
2.  Filing necessary.  The filing is necessary under this Part: 
A.  To continue the effectiveness of a financing statement filed before July 1, 2013; 
or 
B.  To perfect or continue the perfection of a security interest. 
Sec. B-8.  Priority.  This Act determines the priority of conflicting claims to 
collateral.  However, if the relative priorities of the claims were established before July 1, 
2013, Title 11, Article 9-A as it existed before amendment under this Act determines 
priority. 
PART C 
Sec. C-1.  Comments.  The Legislature accepts the Uniform Comments composed 
by the National Conference of Commissioners on Uniform State Laws as part of the 2010 
amendments to the Uniform Commercial Code, Article 9-A. 
Emergency clause.  In view of the emergency cited in the preamble, this 
legislation takes effect July 1, 2013. 
SUMMARY 
This bill enacts the 2010 amendments to the Uniform Commercial Code, Article 9-A, 
which were adopted by the National Conference of Commissioners on Uniform State 
Laws.  The changes take effect July 1, 2013. 
This bill includes in the Maine Revised Statutes, Title 11, section 9-1503 Alternative 
B, as proposed by the National Conference of Commissioners on Uniform State Laws, 
concerning acceptable names of individual debtors as part of financing statements.  
Maine issues driver's licenses and nondriver identification cards, and those are 
specifically referenced as acceptable sources of a debtor's name to be included in a 
financing statement. 
The bill modifies the National Conference of Commissioners on Uniform State Laws 
proposal with regard to written financing statements and amendments by providing that a 
filing office may not reject filings that are made on forms approved by the International 
Association of Commercial Administrators or a successor organization or approved by 
the Secretary of State by rule.