§ 9-317. Interests that take priority over or take free of unperfected security interest or agr...
West's Annotated Code of MarylandCommercial LawEffective: July 1, 2013
Effective: July 1, 2013
MD Code, Commercial Law, § 9-317
§ 9-317. Interests that take priority over or take free of unperfected security interest or agricultural lien
(b) Except as otherwise provided in subsection (e), a buyer, other than a secured party, of tangible chattel paper, tangible documents, goods, instruments, or a certificated security takes free of a security interest or agricultural lien if the buyer gives value and receives delivery of the collateral without knowledge of the security interest or agricultural lien and before it is perfected.
(d) A licensee of a general intangible or a buyer, other than a secured party, of collateral other than tangible chattel paper, tangible documents, goods, instruments, or a certificated security takes free of a security interest if the licensee or buyer gives value without knowledge of the security interest and before it is perfected.
(e) Except as otherwise provided in §§ 9-320 and 9-321, if a person files a financing statement with respect to a purchase-money security interest before or within 20 days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee, or lien creditor which arise between the time the security interest attaches and the time of filing.
Credits
Added by Acts 1999, c. 282, § 2, eff. July 1, 2001. Amended by Acts 2001, c. 408, § 2, eff. July 1, 2001; Acts 2004, c. 95, § 2, eff. Oct. 1, 2004; Acts 2012, c. 674, § 2, eff. July 1, 2013.
MD Code, Commercial Law, § 9-317, MD COML § 9-317
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.
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