§ 9-501.1. Filing and recording of filing statement
West's Annotated Code of MarylandCommercial LawEffective: October 1, 2015
Effective: October 1, 2015
MD Code, Commercial Law, § 9-501.1
§ 9-501.1. Filing and recording of filing statement
(b) This section does not apply to a financing statement that is a mortgage or deed of trust.
(c) A person may not cause to be filed or recorded under this title a financing statement that the person knows is:
(d)(1) If a filing office receives for filing a financing statement that the filing office has reason to believe is being filed by a person in violation of subsection (c), the filing office shall:
(v) Advises that the financing statement may be terminated by the filing office unless, within 45 days after the notice is sent by the filing office, a person who receives the notice sent by the filing office under paragraph (2) submits to the filing office an affidavit that states the person's belief that the financing statement does not violate subsection (c) and provides the factual basis for that belief.
(e)(1) A person identified as a debtor in a financing statement filed with the filing office who believes that the financing statement was filed in violation of subsection (c) may submit to the filing office an affidavit stating the factual basis for the person's belief.
(f)(1) The State Department of Assessments and Taxation shall adopt by regulation and make available a form of affidavit that shall be used for the purposes described in subsections (d) and (e).
(g)(1) A filing office may terminate a financing statement after the expiration of the 45-day period specified in the notice required under subsection (d) if the filing office:
(h)(1) If a filing office receives an affidavit in response to the notice sent by the filing office under subsection (d), the filing office shall review the affidavit to consider whether the financing statement was filed in violation of subsection (c).
(i)(1) A person who is identified in a financing statement and disagrees with a determination made by a filing office under subsection (h)(2) may file a petition in the circuit court for the county where the debtor is located or, if the debtor is not located in Maryland, where any affected property is located, seeking a determination of the validity of the financing statement.
(j) A filing office may not:
Credits
Added by Acts 2015, c. 8, § 1, eff. Oct. 1, 2015.
MD Code, Commercial Law, § 9-501.1, MD COML § 9-501.1
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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