§ 26-1507. Creation of security interest

West's Annotated Code of MarylandAlcoholic Beverages and CannabisEffective: July 1, 2016

West's Annotated Code of Maryland
Alcoholic Beverages and Cannabis (Refs & Annos)
Division II. Provisions Affecting Individual Jurisdictions [Titles 9-33] (Refs & Annos)
Title 26. Prince George's County (Refs & Annos)
Subtitle 15. Issuance or Denial of Licenses (Refs & Annos)
Effective: July 1, 2016
MD Code, Alcoholic Beverages, § 26-1507
Formerly cited as MD CODE, Art. 2B, § 10-502
§ 26-1507. Creation of security interest
Currentness
Allowed
(a) A license holder may create a security interest in the license in favor of a landlord or a creditor of the license holder.
Perfection of security interest
(b) The security interest shall be perfected in accordance with the Commercial Law Article.
Copy of security agreement to be delivered to Board
(c) The license holder shall deliver to the Board a copy of the underlying security agreement that is signed by or on behalf of the individual or entity that holds the license.

Credits

Added by Acts 2016, c. 41, § 2, eff. July 1, 2016.
MD Code, Alcoholic Beverages, § 26-1507, MD AL BEV § 26-1507
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.
End of Document