282

LAWS OF MARYLAND

[Ch. 49

collateral other than inventory has priority over a
conflicting security interest in the same collateral if
the purchase money security interest is perfected at the
time the debtor receives possession of the collateral or
within ten days thereafter.

(5)   In all cases not governed by other rules stated
in this section (including cases of purchase money
security interests which do not qualify for the special
priorities set forth in subsections (3) and (4) of this
section), priority between conflicting security interests
in the same collateral shall be determined as follows:

(a)    In the order of filing if both are
perfected by filing, regardless of which security
interest attached first under § 9—204 (1) and whether it
attached before or after filing;

(b)   In the order of perfection unless both
are perfected by filing, regardless of which security
interest attached first under § 9—204 (1) and, in the
case of a filed security interest, whether it attached
before or after filing; and

(c)   In the order of attachment under § 9—204
(1) so long as neither is perfected.

(6)    For the purpose of the priority rules of the
immediately preceding subsection, a continuously
perfected security interest shall be treated at all times
as if perfected by filing if it was originally so
perfected and it shall be treated at all times as if
perfected otherwise than by filing if it was originally
perfected otherwise than by filing.

9—313. Priority of security interests in fixtures.

(1)   The rules of this section do [no] NOT apply to
goods incorporated into a structure in the manner of
lumber, bricks, tile, cement, glass, metal work and the
like and no security interest in them exists under this
[subtitle] TITLE unless the structure remains personal
property under applicable law. The law of this State
other than TITLES 1 THROUGH 10 OF this article determines
whether and when other goods become fixtures. [This]
TITLES 1 THROUGH 10 OF THIS article [does] DO not prevent
creation of an encumbrance upon fixtures or real estate
pursuant to the law applicable to real estate.

(2)   A security interest which attaches to goods
before they become fixtures takes priority as to the
goods over the claims of all persons who have an interest
in the real estate except as stated in subsection (4).