controllable electronic records and controllable payment intangibles (1). Except as provided in subsection (2), the local law of the controllable electronic record's jurisdiction specified in section 12-107, subsection (3), paragraphs (c) and (d) governs perfection, the effect of perfection or nonperfection and the priority of a security interest in a controllable electronic record and a security interest in a controllable account or controllable payment intangible evidenced by the controllable electronic record. [PL 2025, c. 390, Pt. A, §27 (AMD); PL 2025, c. 390, Pt. A, §28 (AFF).] (2). The local law of the jurisdiction in which the debtor is located governs: (a). Perfection of a security interest in a controllable account, controllable electronic record or controllable payment intangible by filing; and [PL 2023, c. 669, Pt. A, §101 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).] (b). Automatic perfection of a security interest in a controllable payment intangible created by a sale of the controllable payment intangible. [PL 2023, c. 669, Pt. A, §101 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).] [PL 2023, c. 669, Pt. A, §101 (NEW); PL 2023, c. 669, Pt. E, §1 (AFF).]
‹ Prev All Maine sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.