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Md. Code Ann., Com. Law § 9-325

Known as the Maryland Uniform Commercial Code

The act spans §§ 1–9 (556 sections).

(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.

Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.