MARVIN MANDEL, Governor

263

(3) The application of this [subtitle] TITLE to a
security interest in a secured obligation is not affected
by the fact that the obligation is itself secured by a
transaction or interest to which this [subtitle] TITLE
does not apply.

9—103, Accounts, contract rights, general intangibles
and equipment relating to another jurisdiction; and
incoming goods already subject to a security interest.

(1)   If the office where the assignor of accounts or
contract rights keeps his records concerning then is in
this State, the validity and perfection of a security
interest therein and the possibility and effect of proper
filing is governed by this [subtitle] TITLE; otherwise by
the law (including the conflict of laws rules) of the
jurisdiction where such office is located.

(2)   If the chief place of business of a debtor is
in this State, this [subtitle] 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 sore than one jurisdiction (such as
automotive equipment, rolling stock, airplanes, road
building equipment, commercial harvesting 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 (including 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
perfection of the security interest by filing or
recording in that jurisdiction, 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 understood 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