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§ 9-516. What constitutes filing; effectiveness of filing

West's Annotated Code of MarylandCommercial LawEffective: July 1, 2013

West's Annotated Code of Maryland
Commercial Law
Title 9. Secured Transactions (Refs & Annos)
Subtitle 5. Filing (Refs & Annos)
Effective: July 1, 2013
MD Code, Commercial Law, § 9-516
§ 9-516. What constitutes filing; effectiveness of filing
Currentness
(a) Except as otherwise provided in subsection (b), communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing.
(b) Filing does not occur with respect to a record that a filing office refuses to accept because:
(1) The record is not communicated by a method or medium of communication authorized by the filing office;
(2) An amount equal to or greater than the applicable filing fee is not tendered;
(3) The filing office is unable to index the record because:
(A) In the case of an initial financing statement, the record does not provide a name for the debtor;
(B) In the case of an amendment or information statement, the record:
(i) Does not identify the initial financing statement as required by § 9-512 or § 9-518, as applicable; or
(ii) Identifies an initial financing statement whose effectiveness has lapsed under § 9-515;
(C) In the case of an initial financing statement that provides the name of a debtor identified as an individual or an amendment that provides a name of a debtor identified as an individual which was not previously provided in the financing statement to which the record relates, the record does not identify the debtor's surname; or
(D) In the case of a record filed or recorded in the filing office described in § 9-501(a)(1), the record does not provide a sufficient description of the real property to which it relates;
(4) In the case of an initial financing statement or an amendment that adds a secured party of record, the record does not provide a name and mailing address for the secured party of record;
(5) In the case of an initial financing statement or an amendment that provides a name of a debtor which was not previously provided in the financing statement to which the amendment relates, the record does not:
(A) Provide a mailing address for the debtor; or
(B) Indicate whether the name provided as the name of the debtor is the name of an individual or an organization;
(6) In the case of an assignment reflected in an initial financing statement under § 9-514(a) or an amendment filed under § 9-514(b), the record does not provide a name and mailing address for the assignee;
(7) In the case of a continuation statement, the record is not filed within the six-month period prescribed by § 9-515(d); or
(8) The information required by § 9-502(e) is not provided or recordation tax payable is not tendered with the financing statement.
(c) For purposes of subsection (b):
(1) A record does not provide information if the filing office is unable to read or decipher the information; and
(2) A record that does not indicate that it is an amendment or identify an initial financing statement to which it relates, as required by § 9-512, § 9-514, or § 9-518, is an initial financing statement.
(d) A record that is communicated to the filing office with tender of the filing fee, but which the filing office refuses to accept for a reason other than one set forth in subsection (b), is effective as a filed record except as against a purchaser of the collateral which gives value in reasonable reliance upon the absence of the record from the files.

Credits

Added by Acts 1999, c. 282, § 2, eff. July 1, 2001. Amended by Acts 2012, c. 674, § 2, eff. July 1, 2013.
MD Code, Commercial Law, § 9-516, MD COML § 9-516
Current through legislation effective through July 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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