Section 9-806 – Effectiveness of Action Taken Before Effective Date
(a) The filing of a financing statement before the Act takes effect is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under this title, as amended by the Act. (b) The Act does not render ineffective an effective financing statement that, before the Act takes effect, is […]
Section 9-807 – When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement
(a) The filing of an initial financing statement in the office specified in § 9–501 continues the effectiveness of a pre–effective–date financing statement if: (1) The filing of an initial financing statement in that office would be effective to perfect a security interest under this title, as amended by the Act; (2) The pre–effective–date financing statement was filed […]
Section 9-808 – Amendment of Pre-Effective-Date Financing Statement
(a) After the Act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre–effective–date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in this title, as amended by the Act. However, the effectiveness […]
Section 9-809 – Person Entitled to File Initial Financing Statement or Continuation Statement
A person may file an initial financing statement or a continuation statement under this subtitle if: (1) The secured party of record authorizes the filing; and (2) The filing is necessary under this subtitle: (A) To continue the effectiveness of a financing statement filed before the Act takes effect; or (B) To perfect or continue the perfection of a […]
Section 9-810 – Priority
The Act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before the Act takes effect, this title, as it existed before the Act takes effect, determines priority.
Section 9-801 – Defined Terms
(a) In this subtitle the following words have the meanings indicated. (b) “Act” means Chapter 674 of the Acts of the General Assembly of 2012. (c) “Pre–effective–date financing statement” means a financing statement filed before the effective date of the Act.
Section 9-623 – Right to Redeem Collateral
(a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (b) To redeem collateral, a person shall tender: (1) Fulfillment of all obligations secured by the collateral; and (2) The reasonable expenses and attorney’s fees described in § 9-615(a)(1). (c) A redemption may occur at any time before a secured party: (1) Has collected collateral […]
Section 9-802 – Effective Date
The Act takes effect on July 1, 2013.
Section 9-624 – Waiver
(a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under § 9-611 only by an agreement to that effect entered into and authenticated after default. (b) A debtor may waive the right to require disposition of collateral under § 9-620(e) only by an agreement to that effect entered into and […]
Section 9-803 – Savings Clause
(a) Except as otherwise provided in this subtitle, the Act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before the Act takes effect. (b) The Act does not affect an action, case, or proceeding commenced before the Act takes effect.