2013 Maryland Code
COMMERCIAL LAW
§ 9-325 - Priority of security interests in transferred collateral
§9-325.
(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.
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