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Session Laws, 1945
Volume 589, Page 1792   View pdf image (33K)
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1792 LAWS OF MARYLAND. [CH. 1019

must accept such certificate for recording, and shall thereupon
write the word "discharged" in the book where the agreement
or memorandum is recorded, opposite the recording thereof,
and the lien shall thereupon be discharged. For each record-
ing of discharge, said Clerk shall be entitled to receive the
sum of Fifty Cents (50). All agreements or memoranda re-
corded pursuant to this Act and not discharged by recording a
certificate setting forth payment or satisfaction thereof shall
be deemed to be and remain in full force and effect under this
Act without further or other recording for a period of not
more than three (3) years from the date of recording. At any
time before the expiration of three (3) years from the date of
original recording, a like agreement, memorandum or state-
ment may be recorded in like manner as the original recording.
Any recording of such further agreement, memorandum or
statement shall be valid in like manner and for like period
as an original recording, and shall also continue the rank of
the factor's lien as against all junior interests.

26. When the factor, or any third party for the account of
any such factor, shall have possession of merchandise, such
factor shall have a continuing general lien, as set forth in
Section 22 of this Act, without recording the written agree-
ment or memorandum thereof provided for in this Act.

27. This Act is to be construed liberally to secure the
beneficial interest and purposes thereof. A substantial com-
pliance with its several provision shall be sufficient for the
validity of a lien and to give jurisdiction to the courts to
enforce the same. Nothing in this Act shall be construed as
affecting or limiting any existing or future lien at common law
or any rights at common law or any rights given by any other
statute to the factor, and as to any transaction falling within
the provisions both of this Act and of any other statute of
this State requiring or permitting filing, recording, consent,
publication, notices or formalities of execution, the factor shall
not be required to comply with the provisions o, f any such other
statute.

28. This sub-title shall be construed as providing an addi-
tional method for financing the manufacturing, processing or
sale of merchandise and is not to be construed as affecting the
validity of liens heretofore or hereafter acquired as security for
the financing of the manufacturing, processing or sale of mer-
chandise under the provisions of other sub-titles of this Article,
the provisions of any other statutes of this State, or the com-
mon law in effect in this State.

 

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Session Laws, 1945
Volume 589, Page 1792   View pdf image (33K)
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