(a) The financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within 4 months after, the new debtor becomes bound under section 9-1203, subsection (4); and

(b) The financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than 4 months after the new debtor becomes bound under section 9-1203, subsection (4) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.

Sec. 4. 11 MRSA §9-1518, sub-§(2), ¶(a), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, is amended to read:

(a) Identify the record to which it relates by:

(i) The file number assigned to the initial financing statement to which the record relates; and

(ii) If the correction statement relates to a record recorded in the county registry of deeds, the date and time that book and page at which the initial financing statement was recorded and the information specified in section 9-1502, subsection (2);

Sec. 5. 11 MRSA §9-1519, sub-§(2), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, is amended to read:

(2) A Except as otherwise provided in subsection (9), a file number assigned after January 1, 2002 must include a digit that:

(a) Is mathematically derived from or related to the other digits of the file number; and

(b) Aids the filing office in determining whether a number communicated as the file number includes a single-digit or transpositional error.

Sec. 6. 11 MRSA §9-1519, sub-§(6), ¶(a), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, is amended to read:

(a) To retrieve a record by the name of the debtor and:

(i) If the filing office is the county registry of deeds, by the file number assigned to book and page at which the initial financing statement to which the record relates and the date and time that the record was recorded; or

(ii) If the filing office is the office of the Secretary of State, by the file number assigned to the initial financing statement to which the record relates; and

Sec. 7. 11 MRSA §9-1519, sub-§(8), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, is amended to read:

(8) The Except as otherwise provided in subsection (9), the filing office shall perform the acts required by subsections (1) to (5) at the time and in the manner prescribed by filing-office rule, but not later than 2 business days after the filing office receives the record in question.

Sec. 8. 11 MRSA §9-1522, sub-§(1), ¶(a), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, is amended to read:

(a) If the record was recorded in the county registry of deeds, by using the file number assigned to book and page at which the initial financing statement to which the record relates and the date and time that the record was recorded; or

Sec. 9. 11 MRSA §9-1523, sub-§(7), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, is amended to read:

(7) The requirements of this section do not apply to information obtained from the registry to of deeds.

Sec. 10. 11 MRSA §9-1525, sub-§(1), ¶¶(a) and (b), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, are amended to read:

(a) Twenty Fifteen dollars if the record is communicated in writing and consists of one or 2 pages;

(b) Forty Thirty dollars if the record is communicated in writing and consists of more than 2 pages; and

Sec. 11. 11 MRSA §9-1525, sub-§(2), ¶(b), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, is amended to read:

(b) Sixty Forty dollars if the financing statement indicates that it is filed in connection with a manufactured-home transaction.

Sec. 12. 11 MRSA §9-1525, sub-§(4), ¶(b), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, is amended to read:

(b) Ten Twelve dollars if the request is communicated by another medium authorized by filing-office rule.

Emergency clause. In view of the emergency cited in the preamble, this Act takes effect when approved.

SUMMARY

This bill amends the Maine Revised Statutes, Title 11, Article 9-A to incorporate proposals of the Revised Article 9 Study Group convened by the Secretary of State.