2886

LAWS OF MARYLAND

Ch. 824

JURISDICTION ISSUING THE CERTIFICATE UNTIL 4 MONTHS AFTER
THE GOODS ARE REMOVED FROM THAT JURISDICTION AND THEREAFTER
UNTIL THE GOODS ARE REGISTERED IN ANOTHER JURISDICTION, BUT
IN ANY EVENT NOT BEYOND SURRENDER OF THE CERTIFICATE. AFTER
THE EXPIRATION OF THAT PERIOD, THE GOODS ARE NOT COVERED BY
THE CERTIFICATE OF TITLE WITHIN THE MEANING OF THIS SECTION.

(C)  EXCEPT WITH RESPECT TO THE RIGHTS OF A BUYER
DESCRIBED IN THE NEXT PARAGRAPH, A SECURITY INTEREST,
PERFECTED IN ANOTHER JURISDICTION OTHERWISE THAN BY NOTATION
ON A CERTIFICATE OF TITLE, IN GOODS BROUGHT INTO THIS STATE
AND THEREAFTER COVERED BY A CERTIFICATE OF TITLE ISSUED BY
THIS STATE IS SUBJECT TO THE RULES STATED IN PARAGRAPH (D)
OF SUBSECTION (1).

(D)  IF GOODS ARE BROUGHT INTO THIS STATE WHILE A
SECURITY INTEREST THEREIN IS PERFECTED IN ANY MANNER UNDER
THE LAW OF THE JURISDICTION FROM WHICH THE GOODS ARE REMOVED
AND A CERTIFICATE OF TITLE IS ISSUED BY THIS STATE AND THE
CERTIFICATE DOES NOT SHOW THAT THE GOODS ARE SUBJECT TO THE
SECURITY INTEREST OR THAT THEY MAY BE SUBJECT TO SECURITY
INTERESTS NOT SHOWN ON THE CERTIFICATE, THE SECURITY
INTEREST IS SUBORDINATE TO THE RIGHTS OF A BUYER OF THE
GOODS WHO IS NOT IN THE BUSINESS OF SELLING GOODS OF THAT
KIND TO THE EXTENT THAT HE GIVES VALUE AND RECEIVES DELIVERY
OF THE GOODS AFTER ISSUANCE OF THE CERTIFICATE AND WITHOUT
KNOWLEDGE OF THE SECURITY INTEREST.

(3) ACCOUNTS, GENERAL INTANGIBLES AND MOBILE GOODS.

(A)   THIS SUBSECTION APPLIES TO ACCOUNTS (OTHER
THAN AN ACCOUNT DESCRIBED IN SUBSECTION (5) ON MINERALS) AND
GENERAL INTANGIBLES AND TO GOODS WHICH ARE MOBILE AND WHICH
ARE OF A TYPE NORMALLY USED IN MORE THAN ONE JURISDICTION,
SUCH AS MOTOR VEHICLES, TRAILERS, ROLLING STOCK, AIRPLANES,
SHIPPING CONTAINERS, ROAD BUILDING AND CONSTRUCTION
MACHINERY AND COMMERCIAL HARVESTING MACHINERY AND THE LIKE,
IF THE GOODS ARE EQUIPMENT OR ARE INVENTORY LEASED OR HELD
FOR LEASE BY THE DEBTOR TO OTHERS, AND ARE NOT COVERED BY A
CERTIFICATE OF TITLE DESCRIBED IN SUBSECTION (2).

(B)   THE LAW (INCLUDING THE CONFLICT OF LAWS
RULES) OF THE JURISDICTION IN WHICH THE DEBTOR IS LOCATED
GOVERNS THE PERFECTION AND THE EFFECT OF PERFECTION OR
NONPERFECTION OF THE SECURITY INTEREST.

(C)   IF, HOWEVER, THE DEBTOR IS LOCATED IN A
JURISDICTION WHICH IS NOT A PART OF THE UNITED STATES, AND
WHICH DOES NOT PROVIDE FOR PERFECTION OF THE SECURITY
INTEREST BY FILING OR RECORDING IN THAT JURISDICTION, THE
LAW OF THE JURISDICTION IN THE UNITED STATES IN WHICH THE
DEBTOR HAS ITS MAJOR EXECUTIVE OFFICE IN THE UNITED STATES
GOVERNS THE PERFECTION AND THE EFFECT OF PERFECTION OR
NONPERFECTION OF THE SECURITY INTEREST THROUGH FILING. IN
THE ALTERNATIVE, IF THE DEBTOR IS LOCATED IN A JURISDICTION
WHICH IS NOT A PART OF THE UNITED STATES OR CANADA AND THE
COLLATERAL IS ACCOUNTS OR GENERAL INTANGIBLES FOR MONEY DUE