State Codes and Statutes
Statutes > Maryland > Commercial-law > Title-9 > Subtitle-3 > 9-325§ 9-325. Priority of security interests in transferred collateral.
(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.
[1999, ch. 282, § 2.]
