WILLIAM DONALD SCHAEFER, Governor                           Ch. 720

(B)     ALL REVENUES RETAINED BY THE DEPARTMENT UNDER THIS
SUBSECTION SHALL BE CREDITED TO A CONTINUING NONLAPSING FUND THAT IS
NOT SUBJECT TO § 7-302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.

(C)     SUBJECT TO THE APPROPRIATION PROCESS IN THE STATE BUDGET,
THE DEPARTMENT SHALL USE THE FUND FOR THE COSTS OF REVIEWING,
PROCESSING, AND AUDITING INSTRUMENTS FILED.

(D)     THE STATE TREASURER SHALL HOLD AND THE STATE
COMPTROLLER SHALL ACCOUNT FOR THE FUND.

(E)     THE FUND SHALL BE INVESTED AND REINVESTED IN THE SAME
MANNER AS OTHER STATE FUNDS.

(F)    INVESTMENT EARNINGS SHALL ACCRUE TO THE BENEFIT OF THE
FUND.

9-402.

(I) (A) A financing statement is sufficient if it gives the names of the debtor and the
secured party, is signed by the debtor, gives an address of the secured party from which
information concerning the security interest may be obtained, gives a mailing address of the
debtor and contains a statement indicating the types, or describing the items, of collateral. A
financing statement may be filed before a security agreement is made or a security interest
otherwise attaches.

(B)      When the financing statement covers crops growing or to be grown, the
statement must also contain a description of the real estate concerned.

(C)      When the financing statement covers timber to be cut or covers minerals or
the like (including oil and gas) or accounts subject to subsection (5) of § 9-103, or when the
collateral is goods which are or are to become fixtures, the statement must also comply with
subsection (5).

(D)      WHEN THE FINANCING STATEMENT IS FILED ONLY WITH THE
DEPARTMENT UNDER § 9-401(1)(C) OF THIS SUBTITLE, THE STATEMENT SHALL ALSO:

(I) IDENTIFY THE COUNTY IN WHICH EACH DEBTOR'S PRINCIPAL
PLACE OF BUSINESS IN THE STATE IS LOCATED, IF ANY;

(II)     IDENTIFY EACH DEBTOR'S COUNTY OF RESIDENCE IN THE STATE,
IF ANY; OR

(III)    IF A DEBTOR HAS NO PRINCIPAL PLACE OF BUSINESS OR
RESIDENCE IN THE STATE. STATE THAT NEITHER ITEM (I) NOR (II) OF THIS PARAGRAPH
APPLIES.

(E)     A copy of the security agreement is sufficient as a financing statement if it
contains the above information and is signed by the debtor. A carbon, photographic or other
reproduction of a security agreement or a financing statement is sufficient as a financing
statement if the security agreement so provides or if the original has been filed in this State.

- 3201 -