2892                                               LAWS OF MARYLAND                         [Ch. 865

upon conviction, shall be fined an amount of not less
than twenty-five dollars ($25) and no more than one
hundred dollars ($100) for each offense. Any fine
imposed under this section shall be collected pursuant to
the provisions of [Article 26, § 155;] §1-605(D-5) AND
§7-302 OF THE COURTS ARTICLE OF THE CODE, however, if the
fine is imposed by the circuit court of any county or the
Criminal Court of Baltimore, as the case may be, the fine
when collected shall be paid to the State Roads
Commission and by it applied to the maintenance fund of
said Commission.

SECTION 17. AND BE IT FURTHER ENACTED, That
Sections 9-404, 9-405, 9-406 of Article 95B - Uniform
Commercial Code, of the Annotated Code of Maryland (1964
Replacement Volume and 1973 Supplement) be and they are
hereby repealed and re—enacted, with amendments, to read
as follows:

Article 95B — Uniform Commercial Code
9-404.

(1)    Whenever there is no outstanding secured
obligation and no commitment to make advances, incur
obligations or otherwise give value, the secured party
must on written demand by the debtor send the debtor a
statement that he no longer claims a security interest
under the financing statement, which shall be identified
by file number and by its record reference. A
termination statement signed by a person other than the
secured party of record must include or be accompanied by
the assignment or a statement by the secured party of
record that he has assigned the security interest to the
signer of the termination statement. The uniform fee
for the filing, noting in the index of the financing or
continuation statement the fact of such assignment and
the record reference of the assignment, furnishing a
receipt for such filing and recording the assignment in
either the financing records or the land records shall be
the amount specified in [Article 36, § 12 (a) (17), 1962
Suppl., Annotated Code of Maryland, as the same may be
amended from time to time] §7-202(B-4) OF THE COURTS
ARTICLE OF THE CODE. If the affected secured party fails
to send such a termination statement within ten days
after proper demand therefor he shall be liable to the
debtor for one hundred dollars ($100), and in addition
for any loss caused to the debtor by such failure.

(2)    Upon presentation of such a termination
statement to the filing officer he shall mark it with an
identifying file number and with the date and hour of
filing and give a receipt therefor and he shall record
same in either the financing records or the land records,