Maryland Commercial Law Section 11-803

      (a)      Except as provided by subsection (b) of this section, a consignee entrusted with and in possession of a possessory document is considered the true owner of the goods described in the document for the purpose of any contract with a third person for:

            (1)      The sale or disposal of the goods; or

            (2)      The pledge or deposit of them as security for any money or negotiable instrument advanced or given on the faith of the possessory document.

      (b)      A contract, pledge, or deposit described in subsection (a) of this section is not valid if the third person has notice that the consignee is not the true owner of the goods.