Maryland Commercial Law Section 9-512

Article - Commercial Law

§ 9-512.

      (a)      Subject to § 9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e), otherwise amend the information provided in, a financing statement by filing an amendment that:

            (1)      Identifies, by its file number, the initial financing statement to which the amendment relates; and

            (2)      If the amendment relates to an initial financing statement filed or recorded in a filing office described in § 9-501(a)(1), provides the information specified in § 9-502(b).

      (b)      Except as otherwise provided in § 9-515, the filing of an amendment does not extend the period of effectiveness of the financing statement.

      (c)      A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.

      (d)      A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.

      (e)      An amendment is ineffective to the extent it:

            (1)      Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or

            (2)      Purports to delete all secured parties of record and fails to provide the name of a new secured party of record.



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