There is a newer version of the Maryland Code
Maryland Corporations and Associations Section 5-6B-17
§ 5-6B-17.
  (a)   Except as provided in subsection (b) of this section, a security interest in a cooperative interest shall attach, be perfected, and be enforceable as provided in Title 9 of the Commercial Law Article.
  (b)   The security interest may be perfected by the secured party's taking possession of the membership certificate or by filing a financing statement as provided in Title 9 of the Commercial Law Article.
  (c)   On request of a secured party, the cooperative housing corporation shall note on its books and records the interest of the secured party in the cooperative interest.
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