LD 2245
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Page 346 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 348 of 493
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LR 1087
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retrieval facilities, and subsection (g) [Maine cite subsection
(7)] contains minimum requirements for the retention of records.

 
3. File Number. Subsection (a)(1) [Maine cite subsection
(1), paragraph (a)] requires the filing office to assign a unique
number to each filed record. That number is the "file number"
only if the record is an initial financing statement. See
Section 9-102 [Maine cite section 9-1102].

 
4. Time of Filing. Subsection (a)(2) [Maine cite subsection
(1), paragraph (b)] and Section 9-523 [Maine cite section 9-1523]
refer to the "date and time" of filing. The statutory text does
not contain any instructions to a filing office as to how the
time of filing is to be determined. The method of determining or
assigning a time of filing is an appropriate matter for filling-
office rules to address.

 
5. Related Records. Subsections (c) and (f) [Maine cite
subsections (3) and (6)] are designed to ensure that an initial
financing statement and all filed records relating to it are
associated with one another, indexed under the name of the
debtor, and retrieved together. To comply with subsection (f)
[Maine cite subsection (6)], a filing office (other than a real-
property recording office in a State that enacts subsection (f)
[Maine cite subsection (6)], Alternative B) must be capable of
retrieving records in each of two ways: by the name of the
debtor and by the file number of the initial financing statement
to which the record relates.

 
6. Prohibition on Deleting Names from Index. This Article
contemplates that the filing office will not delete the name of a
debtor from the index until at least one year passes after the
effectiveness of the financing statement lapses as to all secured
parties of record. See subsection (g) [Maine cite subsection
(7)]. This rule applies even if the filing office accepts an
amendment purporting to delete or modify the name of a debtor or
terminate the effectiveness of the financing statement. If an
amendment provides a modified name for a debtor, the amended name
should be added to the index, see subsection (c)(2) [Maine cite
subsection (3), paragraph (b)], but the pre-amendment name should
remain in the index.

 
Compared to former Article 9, the rule in subsection (g)
[Maine cite subsection (7)] increases the amount of information
available to those who search the public records. The rule also
contemplates that searchers-not the filing office-will determine
the significance and effectiveness of filed records.

 
§9-1520.__Acceptance and refusal to accept record


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