LD 2245
pg. 304
Page 303 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 305 of 493
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LR 1087
Item 1

 
then becomes ordinary goods, and filing in the office specified
in subsection (a)(2) [Maine cite subsection (1), paragraph (b)]
is necessary for perfection. Note also that after the timber is
cut the law of the debtor's location, not the location of the
timber, governs perfection under Section 9-301 [Maine cite
section 9-1301].

 
4. Fixtures. There are two ways in which a secured party may
file a financing statement to perfect a security interest in
goods that are or are to become fixtures. It may file in the
Article 9 records, as with most other goods. See subsection
(a)(2)[Maine cite subsection (1), paragraph (b)]. Or it may file
the financing statement as a "fixture filing," defined in Section
9-102 [Maine cite section 9-1102], in the office in which a
record of a mortgage on the related real property would be filed.
See subsection(a)(1)(B) [Maine cite subsection (1), paragraph
(a), subparagraph (ii)].

 
5. Transmitting Utilities. The usual filing rules do not
apply well for a transmitting utility (defined in Section 9-102)
[Maine cite section 9-1102]. Many preUCC statutes provided
special filing rules for railroads and in some cases for other
public utilities, to avoid the requirements for filing with legal
descriptions in every county in which such debtors had property.
Former Section 9-401(5) recreated and broadened these provisions,
and subsection (b) [Maine cite subsection (2)] follows this
approach. The nature of the debtor will inform persons searching
the record as to where to make a search.

 
§9-1502.__Contents of financing statement; record of mortgage

 
as financing statement; time of filing financing

 
statement

 
(1)__Subject to subsection (2), a financing statement is
sufficient only if it:

 
(a)__Provides the name of the debtor;

 
(b)__Provides the name of the secured party or a
representative of the secured party; and

 
(c)__Indicates the collateral covered by the financing
statement.

 
(2)__Except as otherwise provided in section 9-1501,
subsection (2), to be sufficient, a financing statement that
covers as-extracted collateral or timber to be cut, or which is
filed as a fixture filing and covers goods that are or are to
become fixtures, must satisfy subsection (1) and also:


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