§ 1-202. Notice; knowledge
West's Annotated Code of MarylandCommercial LawEffective: June 1, 2012
Effective: June 1, 2012
MD Code, Commercial Law, § 1-202
§ 1-202. Notice; knowledge
(f) Notice, knowledge, or a notice or notification received by an organization is effective for a particular transaction from the time the transaction is brought to the attention of the individual conducting that transaction and, in any event, from the time the transaction would have been brought to the individual's attention if the organization had exercised due diligence. An organization exercises due diligence if the organization maintains reasonable routines for communicating significant information to the person conducting the transaction and there is reasonable compliance with the routines. Due diligence does not require an individual acting for the organization to communicate information unless the communication is part of the individual's regular duties or the individual has reason to know of the transaction and that the transaction would be materially affected by the information.
Credits
Added by Acts 2012, c. 673, § 2, eff. June 1, 2012.
MD Code, Commercial Law, § 1-202, MD COML § 1-202
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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