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2018 Maryland Code
Transportation
Title 13 - Vehicle Laws -- Certificates of Title and Registration of Vehicles
Subtitle 2 - Security Interests
§ 13-205. Release

Universal Citation:
MD Transp Code § 13-205 (2018)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
  • (a) By secured party. -- When a security interest in a vehicle is satisfied, the secured party shall execute a release of the security interest on the form that the Administration requires.

  • (b) Copies of release. -- When a security interest in a vehicle is satisfied, the secured party shall immediately deliver copies of the release to:

    • (1) The owner;

    • (2) The Administration; and

    • (3) A dealer licensed under Title 15, Subtitle 3 of this article who, on behalf of the owner, pays off the security interest if the owner authorizes the secured party in writing to deliver a copy of the release to the dealer.

  • (c) Release. -- After it receives a release and the certificate of title, the Administration shall release the secured party's right on the certificate of title or issue a new certificate of title.

  • (d) Administration. --

    • (1) If, after notice to all interested parties and a hearing, the Administration determines that an indebtedness does not constitute a security interest, it shall:

      • (i) Release the indebtedness on the certificate of title; or

      • (ii) Issue a new certificate of title and deliver the certificate to the owner.

    • (2) Any person aggrieved by the decision of the Administration may appeal in accordance with the provisions of the Administrative Procedure Act.

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