926                                LAWS OF MARYLAND                        [CH. 538

(3) A debtor is entitled to such a statement once every six months
without charge. The secured party may require payment of a charge
not exceeding $10 for each additional statement furnished.

Parts

Rights of Third Parties; Perfected and

Unperfected Security Interests;

Rules of Priority

9—301. Persons Who Take Priority Over Unperfected Security
Interests; "Lien Creditor."

(1)  Except as otherwise provided in subsection (2) an unperfected
security interest is subordinate to the rights of

(a)  persons entitled to priority under Section 9—312;

(b)  a person who becomes a lien creditor without knowledge of
the security interest and before it is perfected;

(c)  in the case of goods, instruments, documents, and chattel
paper, a person who is not a secured party and who is a transferee
in bulk or other buyer not in ordinary course of business to the
extent that he gives value and receives delivery of the collateral
without knowledge of the security interest and before it is perfected;

(d)  in the case of accounts, contract rights, and general intangi-
bles, a person who is not a secured party and who is a transferee to
the extent that he gives value without knowledge of the security
interest and before it is perfected.

(2)  If the secured party files with respect to a purchase-money
security interest before or within ten days after the collateral comes
into possession of the debtor, he takes priority over the rights of a
transferee in bulk or of a lien creditor which arise between the time
the security interest attaches and the time of filing.

(3)  A "lien creditor" means a creditor who has acquired a lien on
the property involved by attachment, levy or the like and includes
an assignee for benefit of creditors from the time of assignment,
and a trustee in bankruptcy from the date of the filing of the
petition or a receiver in equity from the time of appointment. Unless
all the creditors represented had knowledge of the security interest
such a representative of creditors is a lien creditor without knowl-
edge even though he personally has knowledge of the security in-
terest.

9—302. When Filing Is Required to Perfect Security Interest;
Security Interests to Which Filing Provisions of This Sub-
title Do Not Apply.

(1) A financing statement must be filed to perfect all security
interests except the following:

(a)  a security interest in collateral in possession of the secured
party under Section 9—305;

(b)  a security interest temporarily perfected in instruments or
documents without delivery under Section 9—304 or in proceeds for
a ten day period under Section 9—306;