Example 9: Under the facts in Example 8, five months after Debtor applies for an Indiana certificate of title, Debtor sells the automobile to Buyer. Under subsection (e)(2) [Maine cite subsection (5), paragraph (b)], because Lender did not reperfect within the four months after the goods became covered by the Indiana certificate of title, Lender's security interest is deemed never to have been perfected against Buyer. Under Section 9-317(b) [Maine cite section 9-1317, subsection (2)], Buyer is likely to take free of the security interest. Lender could have protected itself by perfecting its security interest either under Indiana's certificate-of-title statute, see Section 9-311 [Maine cite section 9-1311], or, if it had a right to do so under an agreement or Section 9-610 [Maine cite section 9-1610], by taking possession of the automobile. See Section 9-313(b) [Maine cite section 9-1313, subsection (2)].

The results in Examples 8 and 9 do not depend on the fact that the original perfection was achieved by notation on a certificate of title. Subsection (d) [Maine cite subsection (4)] applies regardless of the method by which a security interest is perfected under the law of another jurisdiction when the goods became covered by a certificate of title from this State.

Section 9-337 [Maine cite section 9-1337] affords protection to a limited class of persons buying or acquiring a security interest in the goods while a security interest is perfected under the law of another jurisdiction but after this State has issued a clean certificate of title.

6. Deposit Accounts, Letter-of-Credit Rights and Investment Property. Subsections (f) and (g) [Maine cite subsections (6) and (7)] address changes in the jurisdiction of a bank, issuer of an uncertificated security, issuer of or nominated person under a letter of credit, securities intermediary, and commodity intermediary. The provisions are analogous to those of subsections (a) and (b) [Maine cite subsections (1) and (2)].