{"data":{"id":"us-me/11-m.r.s.-9-1205","jurisdiction":"us-me","citation":"11 M.R.S. §9-1205","heading":"Use or disposition of collateral permissible","body":"(1).   A security interest is not invalid or fraudulent against creditors solely because:\n(a).  The debtor has the right or ability to:\n(i)  Use, commingle or dispose of all or part of the collateral, including returned or repossessed goods;\n(ii)  Collect, compromise, enforce or otherwise deal with collateral;\n(iii)  Accept the return of collateral or make repossessions; or\n(iv)  Use, commingle or dispose of proceeds; or\n(b).  The secured party fails to require the debtor to account for proceeds or replace collateral.\n(2).   This section does not relax the requirements of possession if attachment, perfection or enforcement of a security interest depends upon possession of the collateral by the secured party.","path":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 2: EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec9-1205.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"be3d302681a51fde796ba36dd8f2e0d70ee794a32ebb45a5b04ac2803af098ac","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-9-1204","next":"us-me/11-m.r.s.-9-1206"},"notice":"GroundRules: Original legal text. Not legal advice."}