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 9-803 – 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 9-804 – 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 […]
Section 9-805 – Security Interest Unperfected Before Effective Date
A security interest that is an unperfected security interest immediately before the Act takes effect becomes a perfected security interest: (1) Without further action, when the Act takes effect if the applicable requirements for perfection under this title, as amended by the Act, are satisfied before or at that time; or (2) When the applicable requirements for […]
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 9-802 – Effective Date
The Act takes effect on July 1, 2013.