280

LAWS OF MARYLAND

[Ch. 49

instruments.

A purchaser of chattel paper or a non—negotiable
instrument who gives new value and takes possession of it
in the ordinary course of his business and without
knowledge that the specific paper or instrument is
subject to a security interest has priority over a
security interest which is perfected under § 9—304
(permissive filing and temporary perfection). A
purchaser of chattel paper who gives new value and takes
possession of it in the ordinary course of his business
has priority over a security interest in chattel paper
which is claimed merely as proceeds of inventory subject
to a security interest (§ 9—306), even though he knows
that the specific paper is subject to the security
interest.

9—309. Protection of purchasers of instruments and
documents.

Nothing in this [subtitle] TITLE limits the rights
of a holder in due course of a negotiable instrument (§
3—302) or a holder to whom a negotiable document of title
has been duly negotiated (§ 7—501) or a bona fide
purchaser of a security (§ 8—301) and such holders or
purchasers take priority over an earlier security
interest even though perfected. Filing under this
[subtitle] TITLE does not constitute notice of the
security interest to such holders or purchasers.

9—310. Priority of certain liens arising by operation of
law.

if hen a person in the ordinary course of his business
furnishes services or materials with respect to goods
subject to a security interest, a lien upon goods in the
possession of such person given by statute or rule of law
for such materials or services takes priority over a
perfected security interest unless the lien is statutory
and the statute expressly provides otherwise.

9—311. Alienability of debtor's rights; judicial
process.

The debtor's rights in collateral may be voluntarily
or involuntarily transferred (by way of sale, creation of
a security interest, attachment, levy, garnishment or
other judicial process) notwithstanding a provision in
the security agreement prohibiting any transfer or making
the transfer constitute a default.

9—312. Priorities among conflicting security interests
in the same collateral.