§9-1321. Licensee of general intangible and lessee of goods in ordinary course of business
(1). In this section, "licensee in ordinary course of business" means a person that becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible and in the ordinary course from a person in the business of licensing general intangibles of that kind. A person becomes a licensee in the ordinary course if the license to the person comports with the usual or customary practices in the kind of business in which the licensor is engaged or with the licensor's own usual or customary practices.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(2). A licensee in ordinary course of business takes its rights under a nonexclusive license free of a security interest in the general intangible created by the licensor, even if the security interest is perfected and the licensee knows of its existence.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(3). A lessee in ordinary course of business takes its leasehold interest free of a security interest in the goods created by the lessor, even if the security interest is perfected and the lessee knows of its existence.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
SECTION HISTORY
PL 1999, c. 699, §A2 (NEW). PL 1999, c. 699, §A4 (AFF).
Structure Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Part 3: PERFECTION AND PRIORITY
11 §9-1317. Interests that take priority over or take free of security interest or agricultural lien
11 §9-1319. Rights and title of consignee with respect to creditors and purchasers
11 §9-1321. Licensee of general intangible and lessee of goods in ordinary course of business
11 §9-1324. Priority of purchase-money security interests
11 §9-1324-A. Priority of production-money security interests and agricultural liens
11 §9-1325. Priority of security interests in transferred collateral
11 §9-1326. Priority of security interests created by new debtor
11 §9-1327. Priority of security interests in deposit account
11 §9-1328. Priority of security interests in investment property
11 §9-1329. Priority of security interests in letter-of-credit right
11 §9-1330. Priority of purchaser of chattel paper or instrument
11 §9-1332. Transfer of money; transfer of funds from deposit account
11 §9-1333. Priority of certain liens arising by operation of law
11 §9-1334. Priority of security interests in fixtures and crops
11 §9-1337. Priority of security interests in goods covered by certificate of title