reglab/housing_qa huggingface dataset:
MD. Commercial Law Code Ann. §  9-622 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 6 - Default|Section 9-622 - Effect of Acceptance of Collateral

    (a)    A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures:        (1)    Discharges the obligation to the extent consented to by the debtor;        (2)    Transfers to the secured party all of a debtor’s rights in the collateral;        (3)    Discharges the security interest or agricultural lien that is the subject of the debtor’s consent and any subordinate security interest or other subordinate lien; and        (4)    Terminates any other subordinate interest.    (b)    A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this title.
MD. Commercial Law Code Ann. §  9-623 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 6 - Default|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 under § 9-607;        (2)    Has disposed of collateral or entered into a contract for its disposition under § 9-610; or        (3)    Has accepted collateral in full or partial satisfaction of the obligation it secures under § 9-622.
MD. Commercial Law Code Ann. §  9-624 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 6 - Default|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 authenticated after default.    (c)    Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under § 9-623 only by an agreement to that effect entered into and authenticated after default.
MD. Commercial Law Code Ann. §  9-625 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 6 - Default|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 to comply with this title. Loss caused by a failure to comply may include loss resulting from the debtor’s inability to obtain, or increased costs of, alternative financing.    (c)    Except as otherwise provided in § 9-628:        (1)    A person that, at the time of the failure, was a debtor, was an obligor, or held a security interest in or other lien on the collateral may recover damages under subsection (b) for its loss; and        (2)    If the collateral is consumer goods, a person that was a debtor or a secondary obligor at the time a secured party failed to comply with this part may recover for that failure in any event an amount not less than the credit service charge plus 10 percent of the principal amount of the obligation or the time-price differential plus 10 percent of the cash price.    (d)    A debtor whose deficiency is eliminated under § 9-626 may recover damages for the loss of any surplus. However, a debtor or secondary obligor whose deficiency is eliminated or reduced under § 9-626 may not otherwise recover under subsection (b) for noncompliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance.    (e)    If a secured party fails to comply with a request regarding a list of collateral or a statement of account under § 9-210, the secured party may claim a security interest only as shown in the list or statement included in the request as against a person that is reasonably misled by the failure.
MD. Commercial Law Code Ann. §  9-626 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 6 - Default|Section 9-626 - Action in Which Deficiency or Surplus Is in Issue

    In an action arising from a transaction in which the amount of a deficiency or surplus is in issue, the following rules apply:         (1)    A secured party need not prove compliance with the provisions of this subtitle relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party’s compliance in issue.        (2)    If the secured party’s compliance is placed in issue, the secured party has the burden of establishing that the collection, enforcement, disposition, or acceptance was conducted in accordance with this subtitle.        (3)    Except as otherwise provided in § 9-628, if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with the provisions of this subtitle relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or a secondary obligor for a deficiency is limited to an amount by which the sum of the secured obligation, expenses, and attorney’s fees exceeds the greater of:            (A)    The proceeds of the collection, enforcement, disposition, or acceptance; or            (B)    The amount of proceeds that would have been realized had the noncomplying secured party proceeded in accordance with the provisions of this subtitle relating to collection, enforcement, disposition, or acceptance.        (4)    For purposes of paragraph (3)(B), the amount of proceeds that would have been realized is equal to the sum of the secured obligation, expenses, and attorney’s fees unless the secured party proves that the amount is less than that sum.        (5)    If a deficiency or surplus is calculated under § 9-615(f), the debtor or obligor has the burden of establishing that the amount of proceeds of the disposition is significantly below the range of prices that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought.
MD. Commercial Law Code Ann. §  9-627 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 6 - Default|Section 9-627 - Determination of Whether Conduct Was Commercially Reasonable

    (a)    The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition, or acceptance was made in a commercially reasonable manner.    (b)    A disposition of collateral is made in a commercially reasonable manner if the disposition is made:        (1)    In the usual manner on any recognized market;        (2)    At the price current in any recognized market at the time of the disposition; or        (3)    Otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition.    (c)    A collection, enforcement, disposition, or acceptance is commercially reasonable if it has been approved:        (1)    In a judicial proceeding;        (2)    By a bona fide creditors’ committee;        (3)    By a representative of creditors; or        (4)    By an assignee for the benefit of creditors.    (d)    Approval under subsection (c) need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition, or acceptance is not commercially reasonable.
MD. Commercial Law Code Ann. §  9-628 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 6 - Default|Section 9-628 - Nonliability and Limitation on Liability of Secured Party; Liability of Secondary Obligor

    (a)    Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person:        (1)    The secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this title; and        (2)    The secured party’s failure to comply with this title does not affect the liability of the person for a deficiency.    (b)    A secured party is not liable because of 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 lienholder that has filed a financing statement against a person, unless the secured party knows:            (A)    That the person is a debtor; and            (B)    The identity of the person.    (c)    A secured party is not liable to any person, and a person’s liability for a deficiency is not affected, because of any act or omission arising out of the secured party’s reasonable belief that a transaction is not a consumer-goods transaction or a consumer transaction or that goods are not consumer goods, if the secured party’s belief is based on its reasonable reliance on:        (1)    A debtor’s representation concerning the purpose for which collateral was to be used, acquired, or held; or        (2)    An obligor’s representation concerning the purpose for which a secured obligation was incurred.    (d)    A secured party is not liable to any person under § 9-625(c)(2) for its failure to comply with § 9-616.    (e)    A secured party is not liable under § 9-625(c)(2) more than once with respect to any one secured obligation.
MD. Commercial Law Code Ann. §  9-701 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 7 - Transition|Section 9-701 - Effective Date

    (a)    This title takes effect at 12:01 a.m. on July 1, 2001.    (b)    In this subtitle the following words have the meanings indicated.        (1)    “Original Code” means Chapter 538 of the Acts of 1963, as the provisions of that chapter were amended prior to 12:01 a.m. on January 1, 1981.        (2)    “Prior Code” means Chapter 824 of the Acts of 1980, as the provisions of that chapter were amended prior to the effective date of this title.
MD. Commercial Law Code Ann. §  9-702 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 7 - Transition|Section 9-702 - Savings Clause

    (a)    Except as otherwise provided in this subtitle, this title applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this title takes effect.    (b)    Except as otherwise provided in subsection (c) and §§ 9-703 through 9-709:        (1)    Transactions and liens that were not governed by the original Code or the prior Code, were validly entered into or created before this title takes effect, and would be subject to this title if they had been entered into or created after this title takes effect, and the rights, duties, and interests flowing from those transactions and liens remain valid after this title takes effect; and        (2)    The transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by this title or by the law that otherwise would apply if this title had not taken effect.    (c)    This title does not affect an action, case, or proceeding commenced before this title takes effect.
MD. Commercial Law Code Ann. §  9-703 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 7 - Transition|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 satisfied without further action.    (b)    Except as otherwise provided in § 9-705, if, immediately before this title takes effect, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this title are not satisfied when this title takes effect, the security interest:        (1)    Is a perfected security interest for one year after this title takes effect;        (2)    Remains enforceable thereafter only if the security interest becomes enforceable under § 9-203 before the year expires; and        (3)    Remains perfected thereafter only if the applicable requirements for perfection under this title are satisfied before the year expires.
MD. Commercial Law Code Ann. §  9-704 (2021)
2021 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.
MD. Commercial Law Code Ann. §  9-706 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 7 - Transition|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 in an office in another state or another office in this State; and        (3)    The initial financing statement satisfies subsection (c).    (b)    The filing of an initial financing statement under subsection (a) continues the effectiveness of the pre-effective-date financing statement for the period in § 9-515 with respect to an initial financing statement.    (c)    To be effective for purposes of subsection (a), an initial financing statement must:        (1)    Satisfy the requirements of Subtitle 5 of this title for an initial financing statement;        (2)    Identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and        (3)    Indicate that the pre-effective-date financing statement remains effective.
MD. Commercial Law Code Ann. §  9-707 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 7 - Transition|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 jurisdiction governing perfection as provided in Subtitle 3 of this title. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.    (c)    Except as otherwise provided in subsection (d), if the law of this State governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this title takes effect only if:        (1)    The pre-effective-date financing statement and an amendment are filed in the office specified in § 9-501;        (2)    An amendment is filed in the office specified in § 9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies § 9-706(c); or        (3)    An initial financing statement that provides the information as amended and satisfies § 9-706(c) is filed in the office specified in § 9-501.    (d)    If the law of this State governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under § 9-705(e) and (g) or § 9-706.    (e)    Whether or not the law of this State governs the perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this State may be terminated after this title takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies § 9-706(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Subtitle 3 of this title as the office in which to file a financing statement.
MD. Commercial Law Code Ann. §  9-708 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 7 - Transition|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 security interest.
MD. Commercial Law Code Ann. §  9-709 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 7 - Transition|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 title takes effect if the security interest is perfected under this title by the filing of a financing statement before this title takes effect which would not have been effective to perfect the security interest under the prior Code. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.
MD. Commercial Law Code Ann. §  9-801 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 8 - Transition Provisions for 2012 Amendments|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.
MD. Commercial Law Code Ann. §  9-802 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 8 - Transition Provisions for 2012 Amendments|Section 9-802 - Effective Date

    The Act takes effect on July 1, 2013.
MD. Commercial Law Code Ann. §  9-803 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 8 - Transition Provisions for 2012 Amendments|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.
MD. Commercial Law Code Ann. §  9-804 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 8 - Transition Provisions for 2012 Amendments|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 as otherwise provided in § 9–806, if, immediately before the Act takes effect, a security interest is a perfected security interest, but the applicable requirements for perfection under this title, as amended by the Act, are not satisfied when the Act takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under this title, as amended by the Act, are satisfied within one year after the Act takes effect.
MD. Commercial Law Code Ann. §  9-805 (2021)
2021 Maryland Statutes|Commercial Law|Title 9 - Secured Transactions|Subtitle 8 - Transition Provisions for 2012 Amendments|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 perfection are satisfied if the requirements are satisfied after that time.