LD 2245
pg. 362
Page 361 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 363 of 493
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LR 1087
Item 1

 
Most of the other changes from former Section 9-407 are for
clarification, to embrace medium-neutral drafting, or to impose
standards of performance on the filing office.

 
3. Acknowledgments of Filing. Subsections (a) and (b) [Maine
cite subsections (1) and (2)] require the filing office to
acknowledge the filing of a record. Under subsection (a) [Maine
cite subsection (1)], the filing office is required to
acknowledge the filing of a written record only upon request of
the filer. Subsection (b) [Maine cite subsection (2)] requires
the filing office to acknowledge the filing of a non-written
record even in the absence of a request from the filer.

 
4. Response to Search Request. Subsection (c)(3) [Maine cite
subsection 3, paragraph (c)] requires the filing office to
provide "the information contained in each financing statement"
to a person who requests it. This requirement can be satisfied
by providing copies, images, or reports. The requirement does
not in any manner inhibit the filing office from also offering to
provide less than all of the information (presumably for a lower
fee) to a person who asks for less. Thus, subsection (c) [Maine
cite subsection (3)] accommodates the practice of providing only
the type of record (e.g., initial financing statement,
continuation statement), number assigned to the record, date and
time of filing, and names and addresses of the debtor and secured
party when a requesting person asks for no more (i.e., when the
person does not ask for copies of financing statements). In
contrast, the filing office's obligation under subsection (b)
[Maine cite subsection (2)] to provide an acknowledgment
containing "the information contained in the record" is not
defined by a customer's request. Thus unless the filer
stipulates otherwise, to comply with subsection (b) [Maine cite
subsection (2)] the filing office's acknowledgment must contain
all of the information in a record.

 
Subsection (c) [Maine cite subsection (3)] assures that a
minimum amount of information about filed records will be
available to the public. It does not preclude a filing office
from offering additional services.

 
5. Lapsed and Terminated Financing Statements. This section
reflects the policy that terminated financing statements will
remain part of the filing office's data base. The filing office
may remove from the data base only lapsed financing statements,
and then only when at least a year has passed after lapse. See
Section 9-519(g) [Maine cite section 9-1519, subsection (7)].
Subsection (c)(1)(C) [Maine cite subsection (3), paragraph (a),
subparagraph (iii)] requires a filing office


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