1438                                      LAWS OF MARYLAND                                Ch. 688

CLERK OF THE SUPERIOR COURT OF BALTIMORE CITY, THEN THE
SECURITY INTEREST SHALL NOT BE PERFECTED UNTIL THE
RECORDATION TAX IS PAID TO THE CLERK OF THE COURT IN AND
FOR THE JURISDICTION IN THE PLACE OF RESIDENCE OF THE
OWNER OF THE VEHICLE. A RECEIPTED BILL OR OTHER EVIDENCE
OF THE PAYMENT OF SAID RECORDATION TAX SHALL BE
DELIVERED TO THE STATE MOTOR VEHICLE ADMINISTRATION BY
THE SECURED PARTY WITHIN THIRTY (30) DAYS AFTER DELIVERY
TO THE STATE MOTOR VEHICLE ADMINISTRATION OF THE
DOCUMENTS DESCRIBED IN PARAGRAPH 1 OF THIS SECTION.

(C) UPON RECEIPT OF THE CERTIFICATE OF TITLE,
APPLICATION, AND THE REQUIRED FILING FEE, THE STATE
MOTOR VEHICLE ADMINISTRATION SHALL ENDORSE ON THE
EXISTING CERTIFICATE OF TITLE OR ON A NEW CERTIFICATE
WHICH IT THEN ISSUES, THE NAME AND ADDRESS OF ALL
SECURED PARTIES, AND MAIL OR DELIVER THE CERTIFICATE OF
TITLE TO THE OWNER NAMED THEREON.

3-204.

(B) THE ASSIGNEE SHALL DELIVER TO THE STATE MOTOR
VEHICLE ADMINISTRATION THE CERTIFICATE OF TITLE IF
AVAILABLE AND AN ASSIGNMENT BY THE SECURED PARTY
NAMED IN THE CERTIFICATE OF TITLE IN THE FORM THE STATE
MOTOR VEHICLE ADMINISTRATION MAY PRESCRIBE
ACCOMPANIED BY SUCH FILING FEE AS MAY BE REQUIRED FOR
PERFECTION OF THE SECURITY INTEREST UNDER SECTION 3-202(B)
OF THIS ARTICLE. THE STATE MOTOR VEHICLE ADMINISTRATION
SHALL CREDIT THE REQUIRED PORTION OF SAID FEE TO THE
COMPTROLLER OF THE TREASURY AS HEREINBEFORE PROVIDED
IN SECTION 3-202(B). THE ASSIGNEE'S SECURITY INTEREST SHALL
BE PERFECTED AS OF THE TIME OF ITS CREATION IF DELIVERY
AND PAYMENT TO THE STATE MOTOR VEHICLE ADMINISTRATION
ARE COMPLETED WITHIN 10 DAYS OF THE DATE OF ITS CREATION,
OTHERWISE PERFECTION SHALL BE AS OF THE TIME OF ITS
DELIVERY AND PAYMENT. PROVIDED, HOWEVER, THAT IF
ASSIGNEE'S SECURITY [[INTTEREST]] INTEREST IS ONE FOR
WHICH A RECORDATION TAX WOULD BE DUE UNDER SECTION 277
OF ARTICLE 81 IF RECORDED WITH THE CLERKS OF THE CIRCUIT
COURTS OF THE RESPECTIVE COUNTIES, OR THE CLERK OF THE
SUPERIOR COURT OF BALTIMORE CITY, THEN THE ASSIGNEE'S
SECURITY INTERESTS SHALL NOT BE PERFECTED UNTIL SAID
RECORDATION TAX IS PAID TO THE CLERK OF THE COURT IN AND
FOR THE JURISDICTION IN THE PLACE OF RESIDENCE OF THE
OWNER OF THE VEHICLE. A RECEIPTED BILL OR OTHER EVIDENCE
OF THE PAYMENT OF SAID RECORDATION TAX SHALL BE
DELIVERED TO THE STATE MOTOR VEHICLE ADMINISTRATION BY
THE SECURED PARTY WITHIN THIRTY (30) DAYS AFTER DELIVERY
TO THE STATE MOTOR VEHICLE ADMINISTRATION OF THE
EXISTING CERTIFICATE OF TITLE, IF AVAILABLE, AND AN
ASSIGNMENT BY THE SECURED PARTY NAMED IN THE
CERTIFICATE OF TITLE.