LD 2245
pg. 367
Page 366 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 368 of 493
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LR 1087
Item 1

 
2. Rules Required. Operating a filing office is a
complicated business, requiring many more rules and procedures
than this Article can usefully provide. Subsection (a) [Maine
cite subsection (1)] requires the adoption of rules to carry out
the provisions of Article 9 [Maine cite Article 9-A]. The
filing-office rules must be consistent with the provisions of the
statute and adopted in accordance with local procedures. The
publication requirement informs secured parties about filing-
office practices, aids secured parties in evaluating filing-
related risks and costs, and promotes regularity of application
within the filing office.

 
3. Importance of Uniformity. In today's national economy,
uniformity of the policies and practices of the filing offices
will reduce the costs of secured transactions substantially. The
International Association of Corporate Administrators (IACA),
referred to in subsection (b) [Maine cite subsection (2)], is an
organization whose membership includes filing officers from every
State. These individuals are responsible for the proper
functioning of the Article 9 [Maine cite Article 9-A] filing
system and have worked diligently to develop model filing-office
rules, with a view toward efficiency and uniformity.

 
Although uniformity is an important desideratum, subsection
(a) [Maine cite subsection (1)] affords considerable flexibility
in the adoption of filing-office rules. Each State may adopt a
version of subsection (a) [Maine cite subsection (1)] that
reflects the desired relationship between the statewide filing
office described in Section 9-501(a)(2) [Maine site 9-1501,
subsection (1), paragraph (b)] and the local filing offices
described in Section 9-501(a)(1) [Maine cite section 9-1501,
subsection (1), paragraph (a)] and that takes into account the
practices of its filing offices. Subsection (a) [Maine cite
subsection (1)] need not designate a single official or agency to
adopt rules applicable to all filing offices, and the rules
applicable to the statewide filing office need not be identical
to those applicable to the local filing office. For example,
subsection (a) [Maine cite subsection (1)] might provide for the
statewide filing office to adopt filing-office rules, and, if not
prohibited by other law, the filing office might adopt one set of
rules for itself and another for local offices. Or, subsection
(a) [Maine cite subsection (1)] might designate one official or
agency to adopt rules for the statewide filing office and another
to adopt rules for local filing offices.

 
PART 6

 
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