Code of Maine Rules
29 - DEPARTMENT OF THE SECRETARY OF STATE
250 - BUREAU OF MOTOR VEHICLES
Bureau of Corporations, Elections and Commissions
Chapter 401 - ADMINISTRATIVE RULES FOR UNIFORM COMMERCIAL CODE, TITLE 11, ARTICLE 9-A
Section 250-401-3 - UCC Information Management System

Universal Citation: 29 ME Code Rules ยง 250-401-3

Current through 2024-38, September 18, 2024

300 General.The filing officer uses a UCC information management system to store, index, and retrieve information relating to financing statements. The UCC information management system includes an index of the names of debtors included on financing statements that are active records.This section describes the UCC information management system.

301 Primary data elements.The primary data elements used in the UCC information management system are the following.

A. Identification numbers

1 Each initial financing statement is identified by a unique file number assigned by the filing officer. The file number of the initial financing statement is stamped on written UCC records or otherwise permanently associated with the record maintained in the UCC information management system. A record is created in the UCC information management system for each initial financing statement and all information comprising such record is maintained in the system. The record is identified by the same information assigned to the initial financing statement.

2 A UCC record other than an initial financing statement is identified by a unique file number assigned by the filing officer. In the UCC information management system, all UCC records other than initial financing statements are linked to the record of their related initial financing statement.

B. Type of record.The type of UCC record from which data is transferred is identified in the UCC information management system from information supplied by the remitter.

C. Filing date and filing time.The filing date and filing time of UCC records are stored in the UCC information management system. Calculation of the lapse date of an initial financing statement is based upon the filing date.

D. Identification of parties.The names and addresses of debtors and secured parties are transferred from UCC records to the UCC information management system.

E. Page count.The total number of pages in a UCC record is maintained in the UCC information management system.

F. Lapse indicator.An indicator is maintained by which the UCC information management system identifies whether or not a financing statement will lapse and, if it does, when it will lapse. The lapse date is determined as provided in subsections 306, 307 and 308.

G. Indexes of names.The filing office maintains in the UCC information management system a searchable index of organization debtor names, and a searchable index of individual debtor names.

302 Individual debtor names.For purposes of this rule, an "individual debtor name" is any name provided as a debtor name in a UCC record in a format that identifies the name as that of a debtor who is an individual, without regard to the nature or character of the name or to the nature or character of the actual debtor.

A. Individual name fields.Individual debtor names are stored in files that include only the individual debtor names, and not organization debtor names. Separate data entry fields are established for surnames (last or family names), first personal names (given), and additional name(s)/initial(s) of individuals. The name of a debtor with a single name (e.g., "Cher") is treated as a surname and shall be entered in the individual surname field. The filing officer assumes no responsibility for the accurate designation of the components of a name but shall accurately enter the data in accordance with the filer's designations.

B. Titles, prefixes and suffixes.Titles, prefixes (e.g. "Ms.") and suffixes or indications of status (e.g."M.D.") are not part of a debtor's name and should not be provided by the filer. Suffixes used to distinguish between family members with identical names (e.g., "JR.") should be provided in the Suffix field. However, when entering a "name" into the UCC information management system, the data will be entered exactly as they appear.

C. Extended debtor name field.The Financing Statement form has limited space for individual debtor names. If any portion of the individual debtor name is too long for the corresponding field, the filer is instructed to check the box that indicates the name was too long and enter the name in item 10 of the Addendum Form UCC1AD. A filing officer shall not refuse to accept a Financing Statement that lacks debtor information in item 1 and/or item 2 if the record includes an Addendum that provides a debtor name in item 10.

D. Truncation of individual names.Personal name fields in the UCC information management system are fixed in length. Although filers should continue to provide full names on their UCC records, a name that exceeds the fixed length is entered as presented to the filing officer, up to the maximum length of the data entry field. The lengths of data entry name fields are as follows.

1 Surname: 100 characters.

2 First personal name:40 characters.

3 Additional name(s)/initial(s):40 characters.

4 Suffix:6 characters

303 Organization debtor names.For purposes of this rule, an "organization debtor name" is any name provided as a debtor name in a UCC record in a format that identifies the name as that of a debtor who is an organization, without regard to the nature or character of the name or to the nature or character of the actual debtor.

A. Single field.Organization debtor names are stored in files that include only organization debtor names and not individual debtor names. A single field is used to store an organization debtor name.

B. Truncation of organization names.The organization debtor name field in the UCC information management system is fixed in length. The maximum length is 150 characters. Although filers should continue to provide full names on their UCC records, a name that exceeds the fixed length is entered as presented to the filing officer, up to the maximum length of the organization debtor name field.

304 Collateral being administered by a Decedent's Personal Representative.The debtor name to be provided on a financing statement when the collateral is being administered by a decedent's personal representative is the name of the relevant decedent. In order for the UCC information management system to function in accordance with the usual expectations of filers and searchers, the filer should provide the debtor name as an individual debtor name. However, the filing office will enter data submitted by a filer in the fields designated by the filer exactly as it appears in such fields.

305 Collateral held in a Trust.The debtor name to be provided when the collateral is held in a trust that is not a registered organization is the name of the trust as set forth in its organic record(s), if the trust has such a name or, if the trust is not so named, the name of the trust's settlor. In order for the UCC information management system to function in accordance with the usual expectations of filers and searchers, the name of a trust or of a settlor that is an organization should be provided as an organization debtor name, and the name of a settlor who is an individual should be provided as an individual debtor name, in each case without regard to the nature or character of the debtor. Notwithstanding the foregoing, the filing office will enter data submitted by a filer in the fields designated by the filer exactly as it appears in such fields.

306 Initial financing statement.Upon the filing of an initial financing statement the status of the parties and the status of the financing statement shall be as follows.

A. Status of secured party.Each secured party named on an initial financing statement shall be a secured party of record, except that if the UCC record names an assignee, the secured party/assignor shall not be a secured party of record and the secured party/assignee shall be a secured party of record.

B. Status of debtor.Each debtor name provided by the initial financing statement shall be indexed in the UCC information management system so long as the financing statement is an active record.

C. Status of financing statement.The financing statement shall be an active record. A lapse date shall be calculated, five years from the file date, unless (i) the initial financing statement indicates as provided in subsection 101.F that it is filed with respect to a public-financing transaction or a manufactured-home transaction, in which case the lapse date shall be thirty years from the file date, or (ii) the initial financing statement indicates as provided in subsection 101.F that it is filed against a transmitting utility, in which case there shall be no lapse date.

307 Amendments generally.Upon the filing of an amendment the status of the parties shall be unchanged, except that in the case of an amendment that adds a debtor or a secured party, the new debtor or secured party shall be added to the appropriate index and associated with the record of the financing statement in the UCC information management system, and an amendment that designates an assignee shall cause the assignee to be added as a secured party of record with respect to the affected financing statement in the UCC information management system. Notwithstanding the filing of an amendment that deletes a debtor or a secured party from a financing statement, no debtor or secured party of record is deleted from the UCC information management system. A deleted secured party will still be treated by the filing office as a secured party of record as the filing office cannot verify the effectiveness of an amendment. In general, the filing of an amendment does not affect the status of the financing statement.

308 Continuation statement

A. Continuation of lapse date.Upon the timely filing of one or more continuation statements by any secured party(ies) of record, the lapse date of the financing statement shall be postponed for five years. The lapse date is postponed once notwithstanding the fact that more than one continuation statement is filed within a given 6-month period prior to a lapse date. Notwithstanding the immediate postponement of the lapse date with respect to one or more secured parties of record who file timely a continuation statement within a given 6-month period prior to a lapse date, such lapse date remains effective solely for purposes of determining whether or not a subsequent continuation statement filed in the same 6-month period is timely.

B. Status.The filing of a continuation statement shall have no effect upon the status of any party to the financing statement or upon the status of the financing statement.

309 Termination statement.The filing of a termination statement shall have no effect upon the status of any party to the financing statement or upon the status of the financing statement.

310 Information statement.The filing of an information statement shall have no effect upon the status of any party to the financing statement, the status of the financing statement or to the information maintained in the UCC information management system.

311 Filing officer statement.A filing officer statement affects the status of parties and of the relevant financing statement as provided in the corrective action described as having been taken in the filing officer statement.

312 Procedure upon lapse.If there is no timely filing of a continuation with respect to a financing statement, the financing statement lapses on its lapse date but no action is then taken by the filing office.

313 Removal of record.A financing statement must remain as an active record until at least one year after it lapses, or if it is indicated to be filed against a transmitting utility, until at least one year after it is terminated with respect to all secured parties of record. On or after the first anniversary of such lapse or termination date, the filing office or the UCC information management system may remove the financing statement and all related UCC records from the Searchable Indexes or from the UCC information management system and upon such removal, the removed UCC Records shall cease to be active records.

Disclaimer: These regulations may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.