reglab/statecodes huggingface dataset:
2023 Maryland Statutes › Commercial Law › Title 9 - Secured Transactions › Subtitle 6 - Default › Section 9-613 - Contents and Form of Notification Before Disposition of Collateral: General

Except in a consumer-goods transaction, the following rules apply:
(1)    The contents of a notification of disposition are sufficient if the notification:
(A)    Describes the debtor and the secured party;
(B)    Describes the collateral that is the subject of the intended disposition;
(C)    States the method of intended disposition;
(D)    States that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and
(E)    States the time and place of a public disposition or the time after which any other disposition is to be made.
(2)    Whether the contents of a notification that lacks any of the information specified in paragraph (1) are nevertheless sufficient is a question of fact.
(3)    The contents of a notification providing substantially the information specified in paragraph (1) are sufficient, even if the notification includes:
(A)    Information not specified by that paragraph; or
(B)    Minor errors that are not seriously misleading.
(4)    A particular phrasing of the notification is not required.
(5)    The following form of notification and the form appearing in § 9-614(3), when completed, each provides sufficient information:
NOTIFICATION OF DISPOSITION OF COLLATERAL
To:  (Name of debtor, obligor, or other person to which the notification is sent)
From:  (Name, address, and telephone number of secured party)
Name of Debtor(s):  (Include only if debtor(s) is not an addressee)
(For a public disposition:)
We will sell (or lease or license, as applicable) the   (describe collateral)   (to the highest qualified bidder) in public as follows:
Day and Date:
Time:
Place:
(For a private disposition:)
We will sell (or lease or license, as applicable) the (describe collateral)   privately some time after (day and date).
You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell (or lease or license, as applicable) (for a charge of $      ). You may request an accounting by calling us at   (telephone number).
2023 Maryland Statutes › Commercial Law › Title 9 - Secured Transactions › Subtitle 6 - Default › Section 9-617 - Rights of Transferee of Collateral

(a)    A secured party’s disposition of collateral after default:
(1)    Transfers to a transferee for value all of the debtor’s rights in the collateral;
(2)    Discharges the security interest under which the disposition is made; and
(3)    Discharges any subordinate security interest or other subordinate lien.
(b)    A transferee that acts in good faith takes free of the rights and interests described in subsection (a), even if the secured party fails to comply with this title or the requirements of any judicial proceeding.
(c)    If a transferee does not take free of the rights and interests described in subsection (a), the transferee takes the collateral subject to:
(1)    The debtor’s rights in the collateral;
(2)    The security interest or agricultural lien under which the disposition is made; and
(3)    Any other security interest or other lien.
2023 Maryland Statutes › Commercial Law › Title 9 - Secured Transactions › Subtitle 6 - Default › Section 9-618 - Rights and Duties of Certain Secondary Obligors

(a)    A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor:
(1)    Receives an assignment of a secured obligation from the secured party;
(2)    Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or
(3)    Is subrogated to the rights of a secured party with respect to collateral.
(b)    An assignment, transfer, or subrogation described in subsection (a):
(1)    Is not a disposition of collateral under § 9-610; and
(2)    Relieves the secured party of further duties under this title.
2023 Maryland Statutes › Commercial Law › Title 9 - Secured Transactions › Subtitle 6 - Default › Section 9-619 - Transfer of Record or Legal Title

(a)    In this section, “transfer statement” means a record authenticated by a secured party stating:
(1)    That the debtor has defaulted in connection with an obligation secured by specified collateral;
(2)    That the secured party has exercised its post-default remedies with respect to the collateral;
(3)    That, by reason of the exercise, a transferee has acquired the rights of the debtor in the collateral; and
(4)    The name and mailing address of the secured party, debtor, and transferee.
(b)    A transfer statement entitles the transferee to the transfer of record of all rights of the debtor in the collateral specified in the statement in any official filing, recording, registration, or certificate-of-title system covering the collateral. If a transfer statement is presented with the applicable fee and request form to the official or office responsible for maintaining the system, the official or office shall:
(1)    Accept the transfer statement;
(2)    Promptly amend its records to reflect the transfer; and
(3)    If applicable, issue a new appropriate certificate of title in the name of the transferee.
(c)    A transfer of the record or legal title to collateral to a secured party under subsection (b) or otherwise is not of itself a disposition of collateral under this title and does not of itself relieve the secured party of its duties under this title.
2023 Maryland Statutes › Commercial Law › Title 9 - Secured Transactions › Subtitle 6 - Default › 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 or lienholder that, 10 days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:
(A)    Identified the collateral;
(B)    Was indexed under the debtor’s name as of that date; and
(C)    Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and
(3)    Any other secured party that, 10 days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in § 9-311(a).
(b)    A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection (a).
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Maryland Statutes › Commercial Law › Title 9 - Secured Transactions › Subtitle 8 - Transition Provisions for 2012 Amendments › 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 filed and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in this title as it existed before the effective date of the Act. However, except as otherwise provided in subsections (c) and (d) and § 9–807, the financing statement ceases to be effective:
(1)    If the financing statement is filed in this State, at the time the financing statement would have ceased to be effective had the Act not taken effect; or
(2)    If the financing statement is filed in another jurisdiction, at the earlier of:
(A)    The time the financing statement would have ceased to be effective under the law of that jurisdiction; or
(B)    June 30, 2018.
(c)    The filing of a continuation statement after the Act takes effect does not continue the effectiveness of a financing statement filed before the Act takes effect. However, on the timely filing of a continuation statement after the Act takes effect and in accordance with the law of the jurisdiction governing perfection as provided in this title, as amended by the Act, the effectiveness of a financing statement filed in the same office in that jurisdiction before the Act takes effect continues for the period provided by the law of that jurisdiction.
(d)    Subsection (b)(2)(B) applies to a financing statement that, before the Act takes effect, is filed against a transmitting utility and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in this title as it existed before the effective date of the Act, only to the extent that this title, as amended by the Act, provides that the law of a jurisdiction other than the jurisdiction in which the financing statement is filed governs perfection of a security interest in collateral covered by the financing statement.
(e)    A financing statement that includes a financing statement filed before the Act takes effect and a continuation statement filed after the Act takes effect is effective only to the extent that it satisfies the requirements of Subtitle 5, as amended by the Act, for an initial financing statement. A financing statement that indicates that the debtor is a decedent’s estate indicates that the collateral is being administered by a personal representative within the meaning of § 9–503(a)(2), as amended by the Act. A financing statement that indicates that the debtor is a trust or is a trustee acting with respect to property held in trust indicates that the collateral is held in a trust within the meaning of § 9–503(a)(3), as amended by the Act.
2023 Maryland Statutes › Commercial Law › Title 9 - Secured Transactions › Subtitle 8 - Transition Provisions for 2012 Amendments › 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 in an office in another 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:
(1)    If the initial financing statement is filed before the Act takes effect, for the period provided in § 9–515, as it existed before the Act takes effect, with respect to an initial financing statement; and
(2)    If the initial financing statement is filed after the Act takes effect, for the period provided in § 9–515, as amended by the Act, 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, as amended by the Act, 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.
2023 Maryland Statutes › Commercial Law › Title 9 - Secured Transactions › Subtitle 8 - Transition Provisions for 2012 Amendments › 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 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.
(b)    Except as otherwise provided in subsection (c), 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 the Act 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 § 9–807(c); or
(3)    An initial financing statement that provides the information as amended and satisfies § 9–807(c) is filed in the office specified in § 9–501.
(c)    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 § 9–806(c) and (e) or § 9–807.
(d)    Whether or not the law of this State governs perfection of a security interest, the effectiveness of a pre–effective–date financing statement filed in this State may be terminated after the Act 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 § 9–807(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in this title, as amended by the Act, as the office in which to file a financing statement.
2023 Maryland Statutes › Commercial Law › Title 9 - Secured Transactions › Subtitle 8 - Transition Provisions for 2012 Amendments › 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 security interest.
2023 Maryland Statutes › Commercial Law › Title 10 - Effective Date and Repealer › Section 10-101 - Definitions

As used in this title:
(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)    “This Act” means Chapter 824 of the Acts of 1980.
2023 Maryland Statutes › Commercial Law › Title 10 - Effective Date and Repealer › Section 10-102 - Provision for Transition

(1)    Transactions validly entered into before the effective date of the original Code, and the rights, duties and interests flowing from them remain valid thereafter and may be terminated, completed, consummated or enforced as required or permitted by any statute or other law amended or repealed by the original Code as though such repeal or amendment had not occurred.
(2)    Record books, indices, dockets, and any other papers or records permitted or required to be recorded, filed or maintained in the office of the clerk of the circuit court for any county under the provisions of any article, section, or other portion of the Maryland Code repealed by the original Code may be destroyed or otherwise disposed of by said clerk at any time after the expiration of five (5) years and sixty (60) days from the date of the last pertinent date thereon or record entry therein, provided that the requirements of Title 10, Subtitle 6, Part III of the State Government Article have been complied with.
2023 Maryland Statutes › Commercial Law › Title 10 - Effective Date and Repealer › Section 10-104 - Laws Not Repealed

Title 7 on documents of title does not repeal or modify any laws prescribing the form or contents of documents of title or the services or facilities to be afforded by bailees, or otherwise regulating bailees’ businesses in respects not specifically dealt with herein; but the fact that such laws are violated does not affect the status of a document of title which otherwise complies with the definition of a document of title (§ 1-201).
2023 Maryland Statutes › Commercial Law › Title 10 - Effective Date and Repealer › Section 10-107 - Validity of Transactions Entered After February 1, 1964, and Before January 1, 1981; Security Interest Perfected on January 1, 1981

Transactions validly entered after 12:01 a.m. on February 1, 1964, and before the effective date of this act, and which were subject to the provisions of the original Code and which would be subject to this act as amended if they had been entered into after the effective date of this act and the rights, duties, and interests flowing from such transactions remain valid after the latter date and may be terminated, completed, consummated, or enforced as required or permitted by this act. Security interests arising out of such transactions which are perfected when this act becomes effective shall remain perfected until they lapse as provided in this act and may be continued as permitted by this act except as stated in § 10-109 of the prior Code.
2023 Maryland Statutes › Commercial Law › Title 10 - Effective Date and Repealer › Section 10-108 - Security Interest Deemed Perfected

A security interest for the perfection of which filing or the taking of possession was required under the original Code and which attached prior to the effective date of this act but was not perfected shall be deemed perfected on the effective date of this act if this act permits perfection without such filing or possession or authorizes filing in the office or offices where a prior ineffective filing was made.
2023 Maryland Statutes › Commercial Law › Title 10 - Effective Date and Repealer › Section 10-109 - Effective Period of Statement Which Shall Not Have Lapsed; Transitional Filing

(1)    A financing statement or continuation statement filed prior to the effective date of this act, which shall not have lapsed prior to said effective date shall remain effective for the period provided in the original Code, but not less than that period of time for which the filing was effective pursuant to the original Code in effect upon the date of such prior filing.
(2)    With respect to any financing statement filed prior to the effective date of this act, any continuation or other statement filed on and after the effective date of this act in relation to such original financing statement shall be filed (i.e., the “transitional filing”) in accordance with this act and if this act requires filing in a place where the original financing statement was not filed, then a new financing statement conforming to § 10-110 or the original or photographic or photostatic copy of the original financing statement and a copy of any prior continuation or other statement shall all be filed in the place where filing is required by this act.
(3)    Nothing in this act shall be deemed to invalidate any action otherwise complying with applicable law taken in good faith until the effective date of this act pursuant to Chapter 240 of the Acts of 1972; provided, however, that transitional filings made on and after January 1, 1981, but before 12:01 a.m. on July 1, 2001, shall be made pursuant to this act with regard to original filings made pursuant to § 9-401 as it existed prior to July 1, 1971 and as said section was amended effective July 1, 1971 by Chapter 457 of the Acts of 1971.
(4)    The names and addresses of the debtor and secured party at the time transitional filings are made shall govern the date to be reflected upon statements filed under this act and shall govern place of filing and indexing in the filing records.
2023 Maryland Statutes › Commercial Law › Title 10 - Effective Date and Repealer › Section 10-110 - Continuation of Perfected Security Interest

(1)    If a security interest is perfected or has priority when this act takes effect as to all persons or as to certain persons without any filing or recording, and if the filing of a financing statement would be required for the perfection or priority of the security interest against those persons under this act, the perfection and priority rights of the security interest continue until 3 years after the effective date of this act. The perfection will then lapse unless a financing statement is filed as provided in subsection (4) or unless the security interest is perfected in accordance with the provisions of this act otherwise than by filing.
(2)    If a security interest is perfected when this act takes effect under a law other than this act which requires no further filing, refiling or recording to continue its perfection, perfection continues until and will lapse 3 years after this act takes effect, unless a financing statement is filed as provided in subsection (4) or unless the security interest is perfected otherwise than by filing, or unless under subsection (3) of § 9-302 of the prior Code the other law continues to govern filing.
(3)    If a security interest is perfected by a filing, refiling or recording under a law repealed by this act which required further filing, refiling or recording to continue its perfection, perfection continues and will lapse on the date provided by the law so repealed for such further filing, refiling or recording unless a financing statement is filed as provided in subsection (4) or unless the security interest is perfected in accordance with the provisions of this act otherwise than by filing.
(4)    Under the prior Code, a financing statement may be filed within 6 months before the perfection of a security interest would otherwise lapse. Any such financing statement is sufficient if signed by either the debtor or the secured party. It must identify the security agreement, statement or notice (however denominated in any statute or other law repealed or modified by this act), state the office where and the date when the last filing, refiling or recording, if any, was made with respect thereto, and the filing number, if any, or book and page, if any, of recording and further state that the security agreement, statement or notice, however denominated, in another filing office under the original Code or under any statute or other law repealed or modified by this act is still effective. Section 9-401 and § 9-103 of the prior Code determine the proper place to file such a financing statement. Except as specified in this subsection, the provisions of § 9-403(3) of the prior Code for continuation statements apply to such a financing statement.
2023 Maryland Statutes › Commercial Law › Title 10 - Effective Date and Repealer › Section 10-111 - Determination of Questions of Priorities

Except as otherwise provided in this subtitle, the original Code shall apply to any questions of priorities if the positions of the parties were fixed prior to the effective date of this act. In other cases, questions of priorities shall be determined by this act for priorities fixed prior to 12:01 a.m. on July 1, 2001.
2023 Maryland Statutes › Commercial Law › Title 11 - Trade Regulation › Subtitle 1 - Foreign Discriminatory Boycotts Act › Section 11-101 - Declaration of Policy; Administration of Subtitle; Construction

It is the policy of the State of Maryland to oppose restraints of trade and unfair trade practices in the form of foreign discriminatory boycotts not specifically authorized by the law of the United States which are fostered or imposed by foreign persons, foreign governments or international organizations against any domestic individual on the basis of race, color, creed, religion, sex or national origin. It is also the policy of the State of Maryland to oppose those actions, including the formation of agreements, understandings or contractual arrangements, expressed or implied, which have the effect of furthering or supporting these discriminatory boycotts, in order that the peace, health, safety, prosperity and general welfare of all the inhabitants of the State may be protected and ensured. It is the further policy of the State of Maryland not to impede domestic or foreign commerce, the free flow of goods in commerce, or actions reasonably necessary to protect goods moving in commerce. The State of Maryland recognizes the right of Maryland firms to decide whether to enter into commercial agreements with foreign firms, provided the agreement does not contravene U.S. foreign policy or any federal or Maryland laws and the agreement does not discriminate against domestic individuals entitled to the benefit of the laws of Maryland on the basis of race, color, creed, religion, sex or national origin, and the right of Maryland firms to decide whether to enter into a commercial agreement with a foreign firm that would advance the political and economic interests of a foreign country provided that agreement does not contravene U.S. foreign policy or federal or Maryland laws and does not discriminate against domestic individuals entitled to the benefits of the laws of Maryland on the basis of race, color, creed, religion, sex, or national origin. This subtitle shall be deemed an exercise of the police power of the State of Maryland for the protection of the people of this State, and shall be administered and principally enforced by the Attorney General of the State of Maryland. The provisions of this subtitle shall be construed liberally so as to effectuate this declaration of policy and the laws and Constitution of the United States, but nothing in this subtitle shall be construed to infringe upon the right of the United States government to regulate interstate and foreign commerce.
2023 Maryland Statutes › Commercial Law › Title 11 - Trade Regulation › Subtitle 1 - Foreign Discriminatory Boycotts Act › Section 11-103 - Participation in Discriminatory Boycott Unlawful

It is unlawful for a person to:
(a)    Knowingly participate in a discriminatory boycott; or
(b)    Knowingly aid or assist any other person in participating in a discriminatory boycott. However, nothing in this subtitle shall make it unlawful for any person who does not otherwise participate or agree to participate in a “discriminatory boycott” merely to handle or ship the goods of a person who may be in violation of this subtitle.