Section 9-707 – Amendment of Information in Pre-Effective-Date Financing Statement
(a) In this section, “pre-effective-date financing statement” means a financing statement filed before this title takes effect. (b) After this title 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 […]
Section 9-708 – Persons Entitled to File Initial Financing Statement or Continuation Statement
A person may file an initial financing statement or a continuation statement under this part 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 this title takes effect; or (B) To perfect or continue the perfection of a […]
Section 9-709 – Priority
(a) This title determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this title takes effect, the prior Code determines priority. (b) For purposes of § 9-322(a), the priority of a security interest that becomes enforceable under § 9-203 of this title dates from the time this […]
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.
Section 9-625 – Remedies for Secured Party’s Failure to Comply With Title
(a) If it is established that a secured party is not proceeding in accordance with this title, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions. (b) Subject to subsections (c) and (d), a person is liable for damages in the amount of any loss caused by a failure […]
Section 9-804 – Security Interest Perfected Before Effective Date
(a) A security interest that is a perfected security interest immediately before the Act takes effect is a perfected security interest under this title, as amended by the Act, if, when the Act takes effect, the applicable requirements for attachment and perfection under this title, as amended by the Act, are satisfied without further action. (b) Except […]