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§ 9-326. Priority of security interests created by new debtor

West's Annotated Code of MarylandCommercial LawEffective: July 1, 2013

West's Annotated Code of Maryland
Commercial Law
Title 9. Secured Transactions (Refs & Annos)
Subtitle 3. Perfection and Priority (Refs & Annos)
Effective: July 1, 2013
MD Code, Commercial Law, § 9-326
§ 9-326. Priority of security interests created by new debtor
(a) Subject to subsection (b), a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but for the application of § 9-316(i)(1) or § 9-508 is subordinate to a security interest in the same collateral which is perfected other than by such a filed financing statement.
(b) The other provisions of this subtitle determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in subsection (a). However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor's having become bound.

Credits

Added by Acts 1999, c. 282, § 2, eff. July 1, 2001. Amended by Acts 2001, c. 408, § 2, eff. July 1, 2001; Acts 2012, c. 674, § 2, eff. July 1, 2013.
MD Code, Commercial Law, § 9-326, MD COML § 9-326
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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