| | | duties, and an assignment for security or financing assignment, | | which substitutes the assignee for the assignor only as to | | rights. Note that the assignment for security or financing | | assignment is a subset of all security interests. Security | | interest is defined to include "any interest of a buyer of ___ | | chattel paper". Section 1-201(37). Chattel paper is defined to | include a lease. Section 9-105(1)(b) | | 9-1102]. Thus, a buyer of leases is the holder of a security | | interest in the leases. That conclusion should not influence | | this issue, as the policy is quite different. Whether a buyer of | | leases is the holder of a commercial assignment, or an assignment | | for security or financing assignment should be determined by the | | language of the assignment or the circumstances of the | | assignment. |
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| | | Sec. B-15. 11 MRSA §2-1307, as enacted by PL 1991, c. 805, §4, is | | repealed and the following enacted in its place: |
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| | | §2-1307.__Priority of liens arising by attachment or |
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| | | levy on, security interests in and other |
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| | | (1)__Except as otherwise provided in section 2-1306, a | | creditor of a lessee takes subject to the lease contract. |
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| | | (2)__Except as otherwise provided in subsection (3) and in | | sections 2-1306 and 2-1308, a creditor of a lessor takes subject | | to the lease contract unless the creditor holds a lien that | | attached to the goods before the lease contract became | | enforceable. |
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| | | (5)__Except as otherwise provided in section 9-1317, 9-1321 | | and 9-1323, a lessee takes a leasehold interest subject to a | | security interest held by a creditor of the lessor. |
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| | | 3. To take priority over the lease contract, and the interests | derived therefrom, the creditor must come within one of three | exceptionswithin the rule. First, | subsection (2)(a) | | [Maine cite Article 9-A] mentioned in subsection (3).__Subsection | | (2) provides that where the creditor holds a lien (Section 2A- | | 103(1)(r)) that attached before the lease contract became | | enforceable (Section 2A-301), the creditor does not take subject | to the lease. Second, subsection (2)(b) provides that when the | creditor holds a security interest (Section 1-201(37)), whether | or not perfected, the creditor has priority over a lessee who did | not give value (Section 1-201(44)) and receive delivery of the | goods without knowledge (Section 1-201(25)) of the security | interest. | As to other lessees, under subsection (2)(c) a secured |
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