LD 2245
pg. 112
Page 111 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 113 of 493
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LR 1087
Item 1

 
(a)__Disclaiming any interest in the obligations; and

 
(b)__If known to the recipient, providing the name and
mailing address of any assignee of or successor to the
recipient's interest in the obligations.

 
(6)__A debtor is entitled without charge to one response to a
request under this section during any 6-month period.__The
secured party may require payment of a charge not exceeding $25
for each additional response.

 
Official Comment

 
1. Source. Former Section 9-208.

 
2. Scope and Purpose. This section provides a procedure
whereby a debtor may obtain from a secured party information
about the secured obligation and the collateral in which the
secured party may claim a security interest. It clarifies and
resolves some of the issues that arose under former Section 9-208
[Maine cite section 9-1208] and makes information concerning the
secured indebtedness readily available to debtors, both before
and after default. It applies to agricultural lien transactions
(see the definitions of "debtor," secured party," and
"collateral" in Section 9-102) [Maine cite section 9-1102], but
generally not to sales of receivables. See subsection (b) [Maine
cite subsection (2)].

 
3. Requests by Debtors Only. A financing statement filed
under Part 5 may disclose only that a secured party may have a
security interest in specified types of collateral. In most
cases the financing statement will contain no indication of the
obligation (if any) secured, whether any security interest
actually exists, or the particular property subject to a security
interest. Because creditors of and prospective purchasers from a
debtor may have legitimate needs for more detailed information,
it is necessary to provide a procedure under which the secured
party will be required to provide information. On the other
hand, the secured party should not be under a duty to disclose
any details of the debtor's financial affairs to any casual
inquirer or competitor who may inquire. For this reason, this
section gives the right to request information to the debtor
only. The debtor may submit a request in connection with
negotiations with subsequent creditors and purchasers, as well as
for the purpose of determining the status of its credit
relationship or demonstrating which of its assets are free of a
security interest.


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