918                               LAWS OF MARYLAND                        [CH. 538

Sub-title governs the validity and perfection of a security interest
and the possibility and effect of proper filing with regard to general
intangibles or with regard to goods of a type which are normally
used, in more than one jurisdiction (such as automotive equipment,
rolling stock, airplanes, road building equipment, commercial harvest-
ing equipment, construction machinery and the like) if such goods
are classified as equipment or classified as inventory by reason of
their being leased by the debtor to others. Otherwise, the law (in-
cluding the conflict of laws rules) of the jurisdiction where such
chief place of business is located shall govern. If the chief place of
business is located in a jurisdiction which does not provide for per-
fection of the security interest by filing or recording in that juris-
diction, then the security interest may be perfected by filing in this
state. For the purpose of determining the validity and perfection of
a security interest in an airplane, the chief place of business of a
debtor who is a foreign air carrier under the Federal Aviation Act
of 1958, as amended, is the designated office of the agent upon whom
service of process may be made on behalf of the debtor.

(3) If personal property other than that governed by subsections
(1) and (2) is already subject to a security interest when it is
brought into this state, the validity of the security interest in this
state is to be determined by the law (including the conflict of laws
rules) of the jurisdiction where the property was when the security
interest attached. However, if the parties to the transaction under-
stood at the time that the security interest attached that the property
would be kept in this state and it was brought into this state within
thirty days after the security interest attached for purposes other
than transportation through this state, then the validity of the
security interest in this state is to be determined by the law of this
state. If the security interest was already perfected under the law
of the jurisdiction where the property was when the security interest
attached and before being brought into this state, the security in-
terest continues perfected in this state for four months and also
thereafter if within the four month period it is perfected in this
state. The security interest may also be perfected in this state after
the expiration of the four month period; in such case perfection dates
from the time of perfection in this state. If the security interest
was not perfected under the law of the jurisdiction where the prop-
erty was when the security interest attached and before being
brought into this state, it may be perfected in this state; in such
case perfection dates from the time of perfection in this state.

(4) Notwithstanding subsections (2) and (3), if personal property
is covered by a certificate of title issued under a statute of this state
or any other jurisdiction which requires indication on a certificate of
title of any security interest in the property as a condition of perfec-
tion, then the perfection is governed by the law of the jurisdiction
which issued the certificate.

(5) Notwithstanding Sub-section (1) and Section 9—302, if the
office where the assignor of accounts or contract rights keeps his
records concerning them is not located in a jurisdiction which is a
part of the United States, its territories or possessions, and the ac-
counts or contract rights are within the jurisdiction of this State
or the transaction which creates the security interest otherwise bears
an appropriate relation to this State, this Sub-title governs the