Md. Code, Commercial Law § 9-704
This is the official text of Md. Code, Commercial Law § 9-704, part of Maryland’s Code, Commercial Law — governs commercial transactions - Maryland's version of the Uniform Commercial Code.
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§9–704.
Official statutory text
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.
(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.
Status: in_force · Read it on the official government site
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