MARVIN MANDEL, Governor

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(3)   CONVEYANCE; OR

(4)   MORTGAGE OR ASSIGNMENT OF MORTGAGE.

(B) BOAT OR MOTOR VEHICLE LIEN.

A BOAT LIEN OR MOTOR VEHICLE LIEN IS SUBORDINATE
ONLY TO A SECURITY INTEREST PERFECTED AS REQUIRED BY LAW.

REVISOR'S NOTE: This section is new language which
combines without substantive change the
provisions of the second sentences of each of
Art. 63, §§ 34, 41, and 53(a).

In subsection (b) of this section, the general
term "security interest" is substituted for
"the rights of the holders of conditional sale
contracts...or other liens..."

The phrase in subsection (b) of this section,
"as required by law," encompasses security
interests perfected under the Maryland Uniform
Commercial Code, Subtitle 3 of Article 66 1/2
of the Code, or other applicable law.

16-206. PROCEEDINGS IF CHARGE DISPUTED.

(A) INSTITUTION OF JUDICIAL PROCEEDINGS.

(1) IF THE OWNER OF PROPERTY SUBJECT TO A
LIEN DISPUTES ANY PART OF THE CHARGE FOR WHICH THE LIEN
IS CLAIMED, HE MAY INSTITUTE APPROPRIATE JUDICIAL
PROCEEDINGS.

(2) INSTITUTION OF THE PROCEEDINGS STAYS
EXECUTION UNDER THE LIEN UNTIL A FINAL JUDICIAL
DETERMINATION OF THE DISPUTE.

(B) IMMEDIATE REPOSSESSION OF PROPERTY; BOND.

(1)    IF THE OWNER OF PROPERTY SUBJECT TO A
LIEN DISPUTES ANY PART OF THE CHARGE FOR WHICH THE LIEN
IS CLAIMED, HE IMMEDIATELY MAY REPOSSESS HIS PROPERTY BY
FILING A CORPORATE BOND FOR DOUBLE THE AMOUNT OF THE
CHARGE CLAIMED.

(2)    THE BOND SHALL BE FILED WITH AND IS
SUBJECT TO THE APPROVAL OF THE CLERK OF THE COURT OF THE
COUNTY WHERE THE SERVICES OR MATERIALS FOR WHICH THE LIEN
IS CLAIMED WERE PROVIDED.

(3)   THE BOND SHALL BE CONDITIONED ON:

(i) FULL PAYMENT OF THE FINAL JUDGMENT ON THE