| | | promissory notes. In its inclusion of sales of payment | | intangibles and promissory notes, this Article continues the | | drafting convention found in former Article 9; it provides that | | the sale of accounts, chattel paper, payment intangibles, or | | promissory notes creates a "security interest." The definition | | of "account" in Section 9-102 [Maine cite section 9-1102] also | | has been expanded to include various rights to payment that were | | general intangibles under former Article 9. |
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| | | Health-care-insurance receivables. Section 9-109 [Maine cite | | section 9-1109] narrows Article 9's exclusion of transfers of | | interests in insurance policies by carving out of the exclusion | | "health-care-insurance receivables" (defined in Section 9-102 | | [Maine cite section 9-1102]). A health-care-insurance receivable | | is included within the definition of "account" in Section 9-102 | | [Maine cite section 9-1102]. |
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| | | Nonpossessory statutory agricultural liens. Section 9-109 | | [Maine cite section 9-1109] also brings nonpossessory statutory | | agricultural liens within the scope of Article 9 [Maine cite | | Article 9-A]. |
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| | | Consignments. Section 9-109 [Maine cite section 9-1109] | | provides that "true" consignments--bailments for the purpose of | | sale by the bailee--are security interests covered by Article 9 | | [Maine cite Article 9-A], with certain exceptions. See Section | | 9-102 [Maine cite section 9-1102] (defining "consignment"). | | Currently, many consignments are subject to Article 9's filing | | requirements by operation of former Section 2326. |
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| | | Supporting obligations and property securing rights to | | payment. This Article also addresses explicitly (i) obligations, | | such as guaranties and letters of credit, that support payment or | | performance of collateral such as accounts, chattel paper, and | | payment intangibles, and (ii) any property (including real | | property) that secures a right to payment or performance that is | | subject to an Article 9 security interest. See Sections 9-203, | | 9-308 [Maine cite sections 9-1203, 9-1308]. |
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| | | Commercial tort claims. Section 9-109 [Maine cite section 9- | | 1109] expands the scope of Article 9 [Maine cite Article 9-A] to | | include the assignment of commercial tort claims by narrowing the | | exclusion of tort claims generally. However, this Article | | continues to exclude tort claims for bodily injury and other non- | | business tort claims of a natural person. See Section 9-102 | | [Maine cite section 9-1102] (defining "commercial tort claim"). |
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| | | Transfers by States and governmental units of States. Section | | 9-109 [Maine cite section 9-1109] narrows the exclusion of | | transfers by States and their governmental units. It excludes |
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