§ 24-304. Receivership property
West's Annotated Code of MarylandCommercial LawEffective: May 8, 2020
Effective: May 8, 2020
MD Code, Commercial Law, § 24-304
§ 24-304. Receivership property
(6)(i) If the receiver receives actual notice at any time before the sale that there is a person holding a lien or other interest in the property who is not included on the master service list and whose identity and address are reasonably ascertainable, the receiver shall give notice of the time, place, and terms of sale to the person as promptly as reasonably practicable.
(f) A lien or other interest in receivership property that is extinguished by a transfer under subsection (b) of this section attaches to the proceeds of the transfer with the same validity, perfection, and priority as the lien or other interest in the property immediately before the transfer, even if the proceeds are not sufficient to satisfy all obligations secured by the lien or other interest.
Credits
Added by Acts 2019, c. 284, § 1, eff. Oct. 1, 2019. Amended by Acts 2020, c. 628, § 1, eff. May 8, 2020.
MD Code, Commercial Law, § 24-304, MD COML § 24-304
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document |