Home Table of Contents

§ 9-318. No interest retained in right to payment that is sold; rights and title of seller of a...

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 9. Secured Transactions (Refs & Annos)
Subtitle 3. Perfection and Priority (Refs & Annos)
MD Code, Commercial Law, § 9-318
§ 9-318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers
(a) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.
(b) For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.

Credits

Added by Acts 1999, c. 282, § 2, eff. July 1, 2001.
MD Code, Commercial Law, § 9-318, MD COML § 9-318
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document