(6)__If a debtor is a transmitting utility and a filed financing statement so indicates, the financing statement is effective until a termination statement is filed.

(7)__A record of a mortgage that is effective as a financing statement filed as a fixture filing under section 9-1502, subsection (3) remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.

Official Comment

1. Source. Former Section 9-403(2), (3), (6).

2. Period of Financing Statement's Effectiveness. Subsection (a) [Maine cite subsection (1)] states the general rule: a financing statement is effective for a five-year period unless its effectiveness is continued under this section or terminated under Section 9-513 [Maine cite section 9-1513]. Subsection (b) [Maine cite subsection (2)] provides that if the financing statement relates to a public-finance transaction or a manufactured-home transaction and so indicates, the financing statement is effective for 30 years. These financings typically extend well beyond the standard, five-year period. Under subsection (f) [Maine cite subsection (6)], a financing statement filed against a transmitting utility remains effective indefinitely, until a termination statement is filed. Likewise, under subsection (g) [Maine cite subsection (7)], a mortgage effective as a fixture filing remains effective until its effectiveness terminates under real-property law.

3. Lapse. When the period of effectiveness under subsection (a) or (b) [Maine cite subsection (1) or (2)] expires, the effectiveness of the financing statement lapses. The last sentence of subsection (c) [Maine cite subsection (3)] addresses the effect of lapse. The deemed retroactive unperfection applies