LD 2245
pg. 92
Page 91 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 93 of 493
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LR 1087
Item 1

 
(a) The security agreement becomes effective to create a
security interest in the person's property; or

 
(b) The person becomes generally obligated for the
obligations of the other person, including the obligation
secured under the security agreement, and acquires or
succeeds to all or substantially all of the assets of the
other person.

 
(5)__If a new debtor becomes bound as debtor by a security
agreement entered into by another person:

 
(a) The agreement satisfies subsection (2), paragraph (c)
with respect to existing or after-acquired property of the
new debtor to the extent the property is described in the
agreement; and

 
(b) Another agreement is not necessary to make a security
interest in the property enforceable.

 
(6)__The attachment of a security interest in collateral gives
the secured party the rights to proceeds provided by section 9-
1315 and is also attachment of a security interest in a
supporting obligation for the collateral.

 
(7)__The attachment of a security interest in a right to
payment or performance secured by a security interest or other
lien on personal or real property is also attachment of a
security interest in the security interest, mortgage or other
lien.

 
(8)__The attachment of a security interest in a securities
account is also attachment of a security interest in the security
entitlements carried in the securities account.

 
(9)__The attachment of a security interest in a commodity
account is also attachment of a security interest in the
commodity contracts carried in the commodity account.

 
Official Comment

 
1. Source. Former Sections 9-203, 9-115(2), (6).

 
2. Creation, Attachment, and Enforceability. Subsection (a)
[Maine cite subsection (1)] states the general rule that a
security interest attaches to collateral only when it becomes
enforceable against the debtor. Subsection (b) [Maine cite
subsection (2)] specifies the circumstances under which a
security interest becomes enforceable. Subsection (b) [Maine


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