| 9. Effectiveness of Rejectable But Unrejected Record. |
Section 9-520(a) [Maine cite section 9-1520, subsection (1)] |
requires the filing office to refuse to accept an initial |
financing statement for a reason set forth in subsection (b) |
[Maine cite subsection (2)]. However, if the filing office |
accepts such a financing statement nevertheless, the financing |
statement generally is effective if it complies with the |
requirements of Section 9-502(a) and (b) [Maine cite section 9- |
1502, subsections (1) and (2)]. See Section 9-520(c) [Maine cite |
section 1520, subsection (3)]. Similarly, an otherwise effective |
financing statement generally remains so even though the |
information in the financing statement becomes incorrect. See |
Section 9-507(b) [Maine cite section 9-1507, subsection (2)]. |
(Note that if the information required by subsection (b)(5) |
[Maine cite subsection (2), paragraph (e)] is incorrect when the |
financing statement is filed, Section 9-338 [Maine cite section |
9-1338] applies.) |