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§ 5-6B-17. Perfection of interest

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 5. Special Types of Corporations (Refs & Annos)
Subtitle 6b. Maryland Cooperative Housing Corporation Act (Refs & Annos)
MD Code, Corporations and Associations, § 5-6B-17
§ 5-6B-17. Perfection of interest
In general
(a) Except as provided in subsection (b) of this section, a security interest in a cooperative interest shall attach, be perfected, and be enforceable as provided in Title 9 of the Commercial Law Article.
Evidence of perfected security interest
(b) The security interest may be perfected by the secured party's taking possession of the membership certificate or by filing a financing statement as provided in Title 9 of the Commercial Law Article.
Note of interest of secured party
(c) On request of a secured party, the cooperative housing corporation shall note on its books and records the interest of the secured party in the cooperative interest.

Credits

Added by 1986, c. 833, 834.
MD Code, Corporations and Associations, § 5-6B-17, MD CORP & ASSNS § 5-6B-17
Current through legislation effective July 1, 2019, from the 2019 Regular Session of the General Assembly.
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