(a) Except as otherwise provided in subsection (b), for purposes of determining the priority of a perfected security interest under § 9-322(a)(1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:
(1) Is made while the security interest is perfected only:
(A) Under § 9-309 when it attaches; or
(B) Temporarily under § 9-312(e), (f), or (g); and
(2) Is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under § 9-309 or § 9-312(e), (f), or (g).
(b) Subsection (a) does not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.
(c) Except as otherwise provided in subsection (d), a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures advances made after the earlier of:
(1) The time the secured party acquires knowledge of the buyer’s purchase; or
(2) 45 days after the purchase.
(d) Subsection (c) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer’s purchase and before the expiration of the 45-day period.
(e) Except as otherwise provided in subsection (f), a lessee of goods, other than a lessee in ordinary course of business, takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:
(1) The time the secured party acquires knowledge of the lease; or
(2) 45 days after the lease contract becomes enforceable.
(f) Subsection (e) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the 45-day period.
Structure Maryland Statutes
Title 9 - Secured Transactions
Subtitle 3 - Perfection and Priority
Section 9-301 - Law Governing Perfection and Priority of Security Interests
Section 9-302 - Law Governing Perfection and Priority of Agricultural Liens
Section 9-304 - Law Governing Perfection and Priority of Security Interests in Deposit Accounts
Section 9-305 - Law Governing Perfection and Priority of Security Interests in Investment Property
Section 9-307 - Location of Debtor
Section 9-308 - When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection
Section 9-309 - Security Interest Perfected Upon Attachment
Section 9-314 - Perfection by Control
Section 9-315 - Secured Party's Rights on Disposition of Collateral and in Proceeds
Section 9-316 - Continued Perfection of Security Interest Following Change in Governing Law
Section 9-319 - Rights and Title of Consignee With Respect to Creditors and Purchasers
Section 9-320 - Buyer of Goods
Section 9-321 - Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business
Section 9-323 - Future Advances
Section 9-324 - Priority of Purchase-Money Security Interests
Section 9-325 - Priority of Security Interests in Transferred Collateral
Section 9-326 - Priority of Security Interests Created by New Debtor
Section 9-327 - Priority of Security Interests in Deposit Account
Section 9-328 - Priority of Security Interests in Investment Property
Section 9-329 - Priority of Security Interests in Letter-of-Credit
Section 9-330 - Priority of Purchaser of Chattel Paper or Instrument
Section 9-332 - Transfer of Money; Transfer of Funds From Deposit Account
Section 9-333 - Priority of Certain Liens Arising by Operation of Law
Section 9-334 - Priority of Security Interests in Fixtures and Crops
Section 9-336 - Commingled Goods
Section 9-337 - Priority of Security Interests in Goods Covered by Certificate of Title
Section 9-339 - Priority Subject to Subordination
Section 9-340 - Effectiveness of Right of Recoupment or Set-Off Against Deposit Account
Section 9-341 - Bank's Rights and Duties With Respect to Deposit Account
Section 9-342 - Bank's Right to Refuse to Enter Into or Disclose Existence of Control Agreement