Sec. B-16. 11 MRSA §2-1309, sub-§(1), ¶(b), as enacted by PL 1991, c. 805, §4, is amended to read:

(b) A "fixture filing" is the filing, in the office where a record of a mortgage on the real estate would be filed or recorded, of a financing statement covering goods that are or are to become fixtures and conforming to the requirements of section 9-402 9-1502, subsection (5) subsections (1) and (2);

Sec. B-17. 11 MRSA §4-208, sub-§(3), ¶(a) is amended to read:

(a) No security agreement is necessary to make the security interest enforceable (section 9-203 9-1203, subsection (1) (2), paragraph (b) (c), subparagraph (i)); and

Sec. B-18. 11 MRSA §5-1118 is enacted to read:

§5-1118.__Security interest of issuer or nominated person

(1)__An issuer or nominated person has a security interest in a document presented under a letter of credit to the extent that the issuer or nominated person honors or gives value for the presentation.

(2)__So long as and to the extent that an issuer or nominated person has not been reimbursed or has not otherwise recovered the value given with respect to a security interest in a document under subsection (1), the security interest continues and is subject to Article 9-A, but:

(a)__A security agreement is not necessary to make the security interest enforceable under section 9-1203, subsection (2), paragraph (c);

(b)__If the document is presented in a medium other than a written or other tangible medium, the security interest is perfected; and

(c)__If the document is presented in a written or other tangible medium and is not a certificated security, chattel paper, a document of title, an instrument or a letter of credit, the security interest is perfected and has priority over a conflicting security interest in the document so long as the debtor does not have possession of the document.