LD 2245
pg. 325
Page 324 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 326 of 493
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LR 1087
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lien may file a financing statement covering collateral subject
to the lien without obtaining the debtor's authorization.
Because the lien arises as matter of law, the debtor's consent is
not required. A person who files an unauthorized record in
violation of this subsection is liable under Section 9-625(e)
[Maine cite section 9-1625, subsection (5)] for a statutory
penalty and damages.

 
6. Amendments; Termination Statements Authorized by Debtor.
Most amendments may not be filed unless the secured party of
record, as determined under Section 9-511 [Maine cite section 9-
1511], authorizes the filing. See subsection (d)(1) [Maine cite
subsection (4), paragraph (a)]. However, under subsection (d)(2)
[Maine cite subsection 4, paragraph (b)], the authorization of
the secured party of record is not required for the filing of a
termination statement if the secured party of record failed to
send or file a termination statement as required by Section 9-513
[Maine cite section 9-1513], the debtor authorizes it to be
filed, and the termination statement so indicates.

 
7. Multiple Secured Parties of Record. Subsection (e) [Maine
cite subsection (5)] deals with multiple secured parties of
record. It permits each secured party of record to authorize the
filing of amendments. However, Section 9-510(b) [Maine cite
section 9-1510, subsection (2)] protects the rights and powers of
one secured party of record from the effects of filings made by
another secured party of record. See Section 9-510 [Maine cite
section 9-1510], Comment 3.

 
8. Successor to Secured Party of Record. A person may
succeed to the powers of the secured party of record by operation
of other law, e.g., the law of corporate mergers. In that case,
the successor has the power to authorize filings within the
meaning of this section.

 
§9-1510.__Effectiveness of filed record

 
(1)__A filed record is effective only to the extent that it
was filed by a person that may file it under section 9-1509.

 
(2)__A record authorized by one secured party of record does
not affect the financing statement with respect to another
secured party of record.

 
(3)__A continuation statement that is not filed within the 6-
month period prescribed by section 9-1515, subsection (4) is
ineffective.


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