LD 2245
pg. 338
Page 337 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 339 of 493
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LR 1087
Item 1

 
[Maine cite subsection (5)] specifies the effect of a
continuation statement and provides for successive continuation
statements.

 
§9-1516.__What constitutes filing; effectiveness of filing

 
(1)__Except as otherwise provided in subsection (2),
communication of a record to a filing office and tender of the
filing fee or acceptance of the record by the filing office
constitutes filing.

 
(2)__Filing does not occur with respect to a record that a
filing office refuses to accept because:

 
(a)__The record is not communicated by a method or medium of
communication authorized by the filing office;

 
(b)__An amount equal to or greater than the applicable
filing fee is not tendered;

 
(c)__The filing office is unable to index the record
because:

 
(i)__In the case of an initial financing statement, the
record does not provide a name for the debtor;

 
(ii)__In the case of an amendment or correction
statement, the record:

 
(A)__Does not identify the initial financing
statement as required by section 9-1512 or 9-1518,
as applicable; or

 
(B)__Identifies an initial financing statement
whose effectiveness has lapsed under section 9-
1515;

 
(iii)__In the case of an initial financing statement
that provides the name of a debtor identified as an
individual or an amendment that provides a name of a
debtor identified as an individual that was not
previously provided in the financing statement to which
the record relates, the record does not identify the
debtor's last name; or

 
(iv)__In the case of a record filed in the filing
office described in section 9-1501, subsection (1),
paragraph (a), the record does not provide a sufficient
description of the real property to which it relates;


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