2918

LAWS OF MARYLAND

Ch. 824

ACCORDANCE WITH THIS ACT AND IF THIS ACT REQUIRES FILING IN
A PLACE WHERE THE ORIGINAL FINANCING STATEMENT WAS NOT FILED,
THEN A NEW FINANCING STATEMENT CONFORMING TO § 10-110 OR THE
ORIGINAL OR PHOTOGRAPHIC OR PHOTOSTATIC COPY OF THE ORIGINAL
FINANCING STATEMENT AND A COPY OF ANY PRIOR CONTINUATION OR
OTHER STATEMENT SHALL ALL BE FILED IN THE PLACE WHERE FILING
IS REQUIRED BY THIS ACT.

(3)   NOTHING IN THIS ACT SHALL BE DEEMED TO INVALIDATE
ANY ACTION OTHERWISE COMPLYING WITH APPLICABLE LAW TAKEN IN
GOOD FAITH UNTIL THE EFFECTIVE DATE OF THIS ACT PURSUANT TO
CHAPTER 240 OF THE ACTS OF 1972 (§ 9-401A); PROVIDED,
HOWEVER, THAT TRANSITIONAL FILINGS MADE ON AND AFTER JANUARY
1, 1981 SHALL BE MADE PURSUANT TO THIS ACT WITH REGARD TO
ORIGINAL FILINGS MADE PURSUANT TO § 9-401 AS IT EXISTED
PRIOR TO JULY 1, 1971 AND AS SAID SECTION WAS AMENDED
EFFECTIVE JULY 1, 1971 BY CHAPTER 457 OF THE ACTS OF 1971.

(4)   THE NAMES AND ADDRESSES OF THE DEBTOR AND SECURED
PARTY AT THE TIME TRANSITIONAL FILINGS ARE MADE SHALL GOVERN
THE DATE TO BE REFLECTED UPON STATEMENTS FILED UNDER THIS
ACT AND SHALL GOVERN PLACE OF FILING AND INDEXING IN THE
FILING RECORDS.

10-110.

(1)   IF A SECURITY INTEREST IS PERFECTED OR HAS
PRIORITY WHEN THIS ACT TAKES EFFECT AS TO ALL PERSONS OR AS
TO CERTAIN PERSONS WITHOUT ANY FILING OR RECORDING, AND IF
THE FILING OF A FINANCING STATEMENT WOULD BE REQUIRED FOR
THE PERFECTION OR PRIORITY OF THE SECURITY INTEREST AGAINST
THOSE PERSONS UNDER THIS ACT, THE PERFECTION AND PRIORITY
RIGHTS OF THE SECURITY INTEREST CONTINUE UNTIL 3 YEARS AFTER
THE EFFECTIVE DATE OF THIS ACT. THE PERFECTION WILL THEN
LAPSE UNLESS A FINANCING STATEMENT IS FILED AS PROVIDED IN
SUBSECTION (4) OR UNLESS THE SECURITY INTEREST IS PERFECTED
IN ACCORDANCE WITH THE PROVISIONS OF THIS ACT OTHERWISE THAN
BY FILING.

(2)   IF A SECURITY INTEREST IS PERFECTED WHEN THIS ACT
TAKES EFFECT UNDER A LAW OTHER THAN THIS ACT WHICH REQUIRES
NO FURTHER FILING, REFILING OR RECORDING TO CONTINUE ITS
PERFECTION, PERFECTION CONTINUES UNTIL AND WILL LAPSE 3
YEARS AFTER THIS ACT TAKES EFFECT, UNLESS A FINANCING
STATEMENT IS FILED AS PROVIDED IN SUBSECTION (4) OR UNLESS
THE SECURITY INTEREST IS PERFECTED OTHERWISE THAN BY FILING,
OR UNLESS UNDER SUBSECTION (3) OF § 9-302 THE OTHER LAW
CONTINUES TO GOVERN FILING.

(3)    IF A SECURITY INTEREST IS PERFECTED BY A FILING,
REFILING OR RECORDING UNDER A LAW REPEALED BY THIS ARTICLE
WHICH REQUIRED FURTHER FILING, REFILING OR RECORDING TO
CONTINUE ITS PERFECTION, PERFECTION CONTINUES AND WILL LAPSE
ON THE DATE PROVIDED BY THE LAW SO REPEALED FOR SUCH FURTHER
FILING, REFILING OR RECORDING UNLESS A FINANCING STATEMENT
IS FILED AS PROVIDED IN SUBSECTION (4) OR UNLESS THE
SECURITY INTEREST IS PERFECTED IN ACCORDANCE WITH THE
PROVISIONS OF THIS ACT OTHERWISE THAN BY FILING.