Md. Code, Com. § 9-325

Current with changes from the 2024 Legislative Session
Section 9-325 - Priority of security interests in transferred collateral
(a) Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:
(1) The debtor acquired the collateral subject to the security interest created by the other person;
(2) The security interest created by the other person was perfected when the debtor acquired the collateral; and
(3) There is no period thereafter when the security interest is unperfected.
(b) Subsection (a) subordinates a security interest only if the security interest:
(1) Otherwise would have priority solely under § 9-322(a) or § 9-324; or
(2) Arose solely under § 2-711(3) or § 2A-508(5) of this article.

Md. Code, CL § 9-325