Section 9-308 – When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection
(a) Except as otherwise provided in this section and § 9-309, a security interest is perfected if it has attached and all of the applicable requirements for perfection in §§ 9-310 through 9-316 have been satisfied. A security interest is perfected when it attaches if the applicable requirements are satisfied before the security interest attaches. (b) An […]
Section 9-309 – Security Interest Perfected Upon Attachment
The following security interests are perfected when they attach: (1) A purchase-money security interest in consumer goods, except as otherwise provided in § 9-311(b) with respect to consumer goods that are subject to a statute or treaty described in § 9-311(a); (2) An assignment of accounts or payment intangibles which does not by itself or in conjunction […]
Section 9-310 – When Filing Required to Perfect Security Interest or Agricultural Lien; Security Interests and Agricultural Liens to Which Filing Provisions Do Not Apply
(a) Except as otherwise provided in subsection (b) and § 9-312(b), a financing statement must be filed to perfect all security interests and agricultural liens. (b) The filing of a financing statement is not necessary to perfect a security interest: (1) That is perfected under § 9-308(d), (e), (f), or (g); (2) That is perfected under § 9-309 when […]
Section 9-311 – Perfection of Security Interests in Property Subject to Certain Statutes, Regulations, and Treaties
(a) Except as otherwise provided in subsection (d), the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to: (1) A statute, regulation, or treaty of the United States whose requirements for a security interest’s obtaining priority over the rights of a lien creditor with respect to the […]
Section 9-312 – Perfection of Security Interests in Chattel Paper, Deposit Accounts, Documents, Goods Covered by Documents, Instruments, Investment Property, Letter-of-Credit Rights, and Money; Perfection by Permissive Filing; Temporary Perfection Without Filing or Transfer of Possession
(a) A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing. (b) Except as otherwise provided in § 9-315(c) and (d) for proceeds: (1) A security interest in a deposit account may be perfected only by control under § 9-314; (2) Except as otherwise provided in § 9-308(d), a security interest in […]
Section 9-101 – Short Title
This title may be cited as the Maryland Uniform Commercial Code – Secured Transactions.
Section 9-207 – Rights and Duties of Secured Party Having Possession or Control of Collateral
(a) Except as otherwise provided in subsection (d), a secured party shall use reasonable care in the custody and preservation of collateral in the secured party’s possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary steps to preserve rights against prior parties unless otherwise agreed. (b) Except as otherwise provided in […]
Section 9-102 – Definitions and Index of Definitions
(a) In this title: (1) “Accession” means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost. (2) “Account”, except as used in “account for”, means a right to payment of a monetary obligation, whether or not earned by performance, (i) for property that has been […]
Section 9-208 – Additional Duties of Secured Party Having Control of Collateral
(a) This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Within 10 days after receiving an authenticated demand by the debtor: (1) A secured party having control of a deposit account under § 9-104(a)(2) shall send to […]
Section 9-103 – Purchase-Money Security Interest; Application of Payments; Burden of Establishing
(a) In this section: (1) “Purchase-money collateral” means goods or software that secures a purchase-money obligation incurred with respect to that collateral; and (2) “Purchase-money obligation” means an obligation of an obligor incurred as all or part of the price of the collateral or for value given to enable the debtor to acquire rights in or the use […]