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Home » US Law » 2022 Maryland Statutes » Commercial Law » Title 9 - Secured Transactions » Subtitle 7 - Transition » 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 § 9-203 when this title takes effect or within one year thereafter; and

        (3)    Becomes perfected:

            (A)    Without further action, when this title takes effect if the applicable requirements for perfection under this title are satisfied before or at that time; or

            (B)    When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.