HARRY HUGHES, Governor                                    1561

storage, and the charges for storage are due and unpaid for 30
days or more, the third party holder is deemed to hold a
perfected security interest in the motor vehicle notwithstanding
Section 13-202 of the Transportation Article and may sell the
motor vehicle in the same manner as the lienor under this section
if he has first published and sent notice as required of the
lienor under this section.

(d) (1) The Motor Vehicle Administration shall issue a
title, free and clear of any lien, to the purchaser of any motor
vehicle sold under this section.

(2) THE DEPARTMENT OF NATURAL RESOURCES SHALL ISSUE A
TITLE, FREE AND CLEAR OF ANY LIENS, TO THE PURCHASER OF ANY BOAT
SOLD UNDER THIS SECTION.

(e) (1) The proceeds of a sale under this section shall be
applied, in the following order, to:

(i) The expenses of giving notice and holding
the sale, including reasonable attorney's fees;

(ii) Subject to subsection (f) of this section,
storage fees of the third party holder;

(iii) The amount of the lien claimed exclusive
of any storage fees except as provided in paragraph (2) of
subsection (f) of this section;

(iv) A purchase money security interest;

(v) Any storage fees of the third party holder
in excess of $300; and

(vi) Any remaining secured parties of record
who shall divide the remaining balance equally if there are
insufficient funds to completely satisfy their respective
interests, but not to exceed the amount of a security interest.

(2) After application of the proceeds in accordance
with paragraph (1) of this subsection, any remaining balance
shall be paid to the owner of the property.

(f)  (1) If property is stored after repair or rebuilding,

storage fees of the third party holder may not exceed $5 per day
or a total of $300.

(2) The exclusion of any storage fees as provided in
subsection (e)(1)(iii) of this section does not apply to any
person who conducts auctions as a business in this State, and is
required to maintain records under § 15-113 in the Transportation
Article, and that person is also exempt from the maximum storage
fee limits under this subsection.