{"data":{"id":"us-me/11-m.r.s.-9-1507","jurisdiction":"us-me","citation":"11 M.R.S. §9-1507","heading":"Effect of certain events on effectiveness of financing statement","body":"(1).   A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition.\n(2).   Except as otherwise provided in subsection (3) and section 9‑1508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under section 9‑1506.\n(3).   If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under section 9‑1503, subsection (1) so that the financing statement becomes seriously misleading under section 9‑1506:\n(a).  The financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within 4 months after, the filed financing statement becomes seriously misleading; and\n(b).  The financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than 4 months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement that renders the financing statement not seriously misleading is filed within 4 months after the financing statement became seriously misleading.","path":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 5: FILING"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec9-1507.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"6047e3b798e8a990624206cddfe7b8bfc542bce5b3c3590a513aa9281f046a25","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-9-1506","next":"us-me/11-m.r.s.-9-1508"},"notice":"GroundRules: Original legal text. Not legal advice."}