PocketLaw | Maryland Code | Perfection and Priority

Perfection and Priority

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Law governing perfection and priority of security interests

Law governing perfection and priority of agricultural liens

Law governing perfection and priority of security interests in goods covered by certificate of title

Law governing perfection and priority of security interests in deposit accounts

Law governing perfection and priority of security interests in investment property

Law governing perfection and priority of security interests in letter-of-credit rights

Location of debtor

When security interest or agricultural lien is perfected; continuity of perfection

Security interest perfected upon attachment

When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply

Perfection of security interests in property subject to certain statutes, regulations, and treaties

Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection without filing or transfer of possession

When possession by or delivery to secured party perfects security interest without filing

Perfection by control

Secured party's rights on disposition of collateral and in proceeds

Continued perfection of security interest following change in governing law

Interests that take priority over or take free of unperfected security interest or agricultural lien

No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers

Rights and title of consignee with respect to creditors and purchasers

Buyer of goods

Licensee of general intangible and lessee of goods in ordinary course of business

Priorities among conflicting security interests in and agricultural liens on same collateral

Future advances

Priority of purchase-money security interests

Priority of security interests in transferred collateral

Priority of security interests created by new debtor

Priority of security interests in deposit account

Priority of security interests in investment property

Priority of security interests in letter-of-credit

Priority of purchaser of chattel paper or instrument

Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security entitlements under Title 8

Transfer of money; transfer of funds from deposit account

Priority of certain liens arising by operation of law

Priority of security interests in fixtures and crops

Accessions

Commingled goods

Priority of security interests in goods covered by certificate of title

Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information

Priority subject to subordination

Effectiveness of right of recoupment or set-off against deposit account

Bank's rights and duties with respect to deposit account

Bank's right to refuse to enter into or disclose existence of control agreement