Maryland Commercial Law Section 9-309

Article - Commercial Law

§ 9-309.

      The following security interests are perfected when they attach:

            (1)      A purchase-money security interest in consumer goods, except as otherwise provided in § 9-311(b) with respect to consumer goods that are subject to a statute or treaty described in § 9-311(a);

            (2)      An assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles;

            (3)      A sale of a payment intangible;

            (4)      A sale of a promissory note;

            (5)      A security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services;

            (6)      A security interest arising under § 2-401, § 2-505, § 2-711(3), or § 2A-508(5) of this article, until the debtor obtains possession of the collateral;

            (7)      A security interest of a collecting bank arising under § 4-210 of this article;

            (8)      A security interest of an issuer or nominated person arising under § 5-118 of this article;

            (9)      A security interest arising in the delivery of a financial asset under § 9-206(c);

            (10)      A security interest in investment property created by a broker or securities intermediary;

            (11)      A security interest in a commodity contract or a commodity account created by a commodity intermediary;

            (12)      An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder;

            (13)      A security interest created by an assignment of a beneficial interest in a decedent's estate; and

            (14)      A sale by an individual of an account that is a right to payment of winnings in a lottery or other game of chance.



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