§ 9-311. Perfection of security interests in property subject to certain statutes, regulations,...
West's Annotated Code of MarylandCommercial LawEffective: July 1, 2013
Effective: July 1, 2013
MD Code, Commercial Law, § 9-311
§ 9-311. Perfection of security interests in property subject to certain statutes, regulations, and treaties
(b) Compliance with the requirements of a statute, regulation, or treaty described in subsection (a) for obtaining priority over the rights of a lien creditor is equivalent to the filing of a financing statement under this title, provided that the time for perfection will be governed by that statute, regulation, or treaty. Except as otherwise provided in subsection (d) and §§ 9-313 and 9-316(d) and (e) for goods covered by a certificate of title, a security interest in property subject to a statute, regulation, or treaty described in subsection (a) may be perfected only by compliance with those requirements, and a security interest so perfected remains perfected notwithstanding a change in the use or transfer of possession of the collateral.
(c) Except as otherwise provided in subsection (d) and § 9-316(d) and (e), duration and renewal of perfection of a security interest perfected by compliance with the requirements prescribed by a statute, regulation, or treaty described in subsection (a) are governed by the statute, regulation, or treaty. In other respects, the security interest is subject to this article.
(d) During any period in which collateral subject to a statute specified in subsection (a)(2) is inventory held for sale or lease by a person or leased by that person as lessor and that person is in the business of selling goods of that kind, this section does not apply to a security interest in that collateral created by that person.
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, § 9-311, MD COML § 9-311
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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