Section 9-703 – Security Interest Perfected Before Effective Date
(a) A security interest that is enforceable immediately before this title takes effect and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this title if, when this title takes effect, the applicable requirements for enforceability and perfection under this title are […]
Section 9-704 – Security Interest Unperfected Before Effective Date
A security interest that is enforceable immediately before this title takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (1) Remains an enforceable security interest for one year after this title takes effect; (2) Remains enforceable thereafter if the security interest becomes enforceable under § […]
Section 9-705 – Effectiveness of Action Taken Before Effective Date
(a) If action, other than the filing of a financing statement, is taken before this title takes effect and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor had the security interest become enforceable before this title takes effect, the action is effective […]
Section 9-706 – When Initial Financing Statement Suffices as Continuation Statement
(a) The filing of an initial financing statement in the office specified in § 9-501 continues the effectiveness of a financing statement filed before this title takes effect if: (1) The filing of an initial financing statement in that office would be effective to perfect a security interest under this title; (2) The pre-effective-date financing statement was filed […]
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 9-604 – Procedure if Security Agreement Covers Real Property or Fixtures
(a) If a security agreement covers both personal and real property, a secured party may proceed: (1) Under this subtitle as to the personal property without prejudicing any rights with respect to the real property; or (2) As to both the personal property and the real property in accordance with the rights with respect to the real property, […]
Section 9-620 – Acceptance of Collateral in Full or Partial Satisfaction of Obligation; Compulsory Disposition of Collateral
(a) Except as otherwise provided in subsection (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if: (1) The debtor consents to the acceptance under subsection (c); (2) The secured party does not receive, within the time set forth in subsection (d), a notification of objection to the proposal […]
Section 9-605 – Unknown Debtor or Secondary Obligor
A secured party does not owe a duty based on its status as secured party: (1) To a person that is a debtor or obligor, unless the secured party knows: (A) That the person is a debtor or obligor; (B) The identity of the person; and (C) How to communicate with the person; or (2) To a secured party or […]
Section 9-621 – Notification of Proposal to Accept Collateral
(a) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: (1) Any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral; (2) Any other secured party […]
Section 9-606 – Time of Default for Agricultural Lien
For purposes of this subtitle, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.