LD 2245
pg. 20
Page 19 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 21 of 493
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LR 1087
Item 1

 
transition provisions. Transition from former Article 9 to
this Article will be particularly challenging in view of its
expanded scope, its modification of choice-of-law rules for
perfection and priority, and its expansion of the methods of
perfection.

 
m. Conforming and Related Amendments to Other UCC Articles.
Appendix I contains several proposed revisions to the
provisions and Comments of other UCC Articles. For the most
part the revisions are explained in the Comments to the
proposed revisions. Cross-references in other UCC Articles
to sections of Article 9 [Maine cite Article 9-A] also have
been revised.

 
Article 1. Revised Section 1-201 contains revisions to the
definitions of "buyer in ordinary course of business,"
"purchaser," and "security interest."

 
Articles 2 and 2A. Sections 2-210, 2-326, 2-502, 2-716, 2A-
303, and 2A-307 have been revised to address the intersection
between Articles 2 and 2A and Article 9.

 
Article 5. New Section 5-118 is patterned on Section 4210.
It provides for a security interest in documents presented under
a letter of credit in favor of the issuer and a nominated person
on the letter of credit.

 
Article 8. Revisions to Section 8-106, which deals with
"control" of securities and security entitlements, conform it to
Section 8-302, which deals with "delivery." Revisions to Section
8-110, which deals with a "securities intermediary's
jurisdiction," conform it to the revised treatment of a
"commodity intermediary's jurisdiction" in Section 9-305 [Maine
cite section 9-1305]. Sections 8-301 and 8302 have been revised
for clarification. Section 8-510 has been revised to conform it
to the revised priority rules of Section 9-328 [Maine cite
section 9-1328]. Several Comments in Article 8 also have been
revised.

 
§9-1102.__Definitions and index of definitions

 
As used in this Article, unless the context otherwise
indicates, the following terms have the following meanings.

 
(1)__"Accession" means goods that are physically united with
other goods in such a manner that the identity of the original
goods is not lost.


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