LD 2245
pg. 138
Page 137 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 139 of 493
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LR 1087
Item 1

 
(2)__An agricultural lien is perfected if it has become
effective and all of the applicable requirements for perfection
in section 9-1310 have been satisfied.__An agricultural lien is
perfected when it becomes effective if the applicable
requirements are satisfied before the agricultural lien becomes
effective.

 
(3)__A security interest or agricultural lien is perfected
continuously if it is originally perfected by one method under
this Article and is later perfected by another method under this
Article, without an intermediate period when it was unperfected.

 
(4)__Perfection of a security interest in collateral also
perfects a security interest in a supporting obligation for the
collateral.

 
(5)__Perfection of a security interest in a right to payment
or performance also perfects a security interest in a security
interest, mortgage or other lien on personal or real property
securing the right.

 
(6)__Perfection of a security interest in a securities account
also perfects a security interest in the security entitlements
carried in the securities account.

 
(7)__Perfection of a security interest in a commodity account
also perfects a security interest in the commodity contracts
carried in the commodity account.

 
Official Comment

 
1. Source. Former Sections 9-303, 9-115(2).

 
2. General Rule. This Article uses the term "attach" to
describe the point at which property becomes subject to a
security interest. The requisites for attachment are stated in
Section 9-203 [Maine cite section 9-1203]. When it attaches, a
security interest may be either perfected or unperfected.
"Perfected" means that the security interest has attached and the
secured party has taken all the steps required by this Article as
specified in Sections 9-310 to 9-316 [Maine cite sections 9-1310
through 9-1316]. A perfected security interest may still be or
become subordinate to other interests. See, e.g., Sections 9-
320, 9-322 [Maine cite section 9-1320, section 9-1322]. However,
in general, after perfection the secured party is protected
against creditors and transferees of the debtor and, in
particular, against any representative of creditors in insolvency
proceedings instituted by or against the debtor. See, e.g.,
Section 9-317 [Maine cite section 9-1317].


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