LD 2245
pg. 334
Page 333 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 335 of 493
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LR 1087
Item 1

 
filing in the filing office an amendment of the financing
statement that:

 
(a)__Identifies, by its file number, the initial financing
statement to which it relates;

 
(b)__Provides the name of the assignor; and

 
(c)__Provides the name and mailing address of the assignee.

 
(3)__An assignment of record of a security interest in a
fixture covered by a record of a mortgage that is effective as a
financing statement filed as a fixture filing under section 9-
1502, subsection (3) may be made only by an assignment of record
of the mortgage in the manner provided by the laws of this State
other than this Title.

 
Official Comment

 
1. Source. Former Section 9-405.

 
2. Assignments. This section provides a permissive device
whereby a secured party of record may effectuate an assignment of
its power to affect a financing statement. It may also be useful
for a secured party who has assigned all or part of its security
interest or agricultural lien and wishes to have the fact noted
of record, so that inquiries concerning the transaction would be
addressed to the assignee. See Section 9-502 [Maine cite section
9-1502], Comment 2. Upon the filing of an assignment, the
assignee becomes the "secured party of record" and may authorize
the filing of a continuation statement, termination statement, or
other amendment. Note that under Section 9310(c) [Maine cite
section 9-1310, subsection (3)] no filing of an assignment is
required as a condition of continuing the perfected status of the
security interest against creditors and transferees of the
original debtor. However, if an assignment is not filed, the
assignor remains the secured party of record, with the power
(even if not the right) to authorize the filing of effective
amendments. See Sections 9-511(c), 9-509(d) [Maine cite section
9-1511, subsection (3), section 9-1509, subsection (4)].

 
Where a record of a mortgage is effective as a financing
statement filed as a fixture filing (Section 9502(c) [Maine cite
section 9-1502, subsection (3)]), then an assignment of record of
the security interest may be made only in the manner in which an
assignment of record of the mortgage may be made under local
real-property law.


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