2736

LAWS OF MARYLAND

Ch. 720

THE TRANSFER IN THE HANDS OF THE SECURED PARTY OR FINANCIAL
INTERMEDIARY, SUBJECT TO ANY CLAIMS HAVING PRIORITY.

[(2)] (6) A creditor whose debtor is the owner of a
security [shall be] IS entitled to [such] aid from courts of
appropriate jurisdiction, by injunction or otherwise, in reaching
[such] THE security or in satisfying the claim by means [thereof
as is] allowed at law or in equity in regard to property [which]
THAT cannot readily be [attached or levied upon] REACHED by
ordinary legal process.

8-318.

An agent or bailee who in good faith (including observance
of reasonable commercial standards if he is in the business of
buying, selling or otherwise dealing with securities) has
received CERTIFICATED securities and sold, pledged or delivered
them OR HAS SOLD OR CAUSED THE TRANSFER OR PLEDGE OF
UNCERTIFICATED SECURITIES OVER WHICH HE HAD CONTROL according to
the instructions of his principal is not liable for conversion or
for participation in breach of fiduciary duty although the
principal had no right [to dispose of them] SO TO DEAL WITH THE
SECURITIES.

8-319.

A contract for the sale of securities is not enforceable by
way of action or defense unless:

(a)  There is some writing signed by the party against whom
enforcement is sought or by his authorized agent or broker
sufficient to indicate that a contract has been made for sale of
a stated quantity of described securities at a defined or stated
price; [or]

(b)  Delivery of [the] A CERTIFICATED security OR TRANSFER
INSTRUCTION has been accepted, OR TRANSFER OF AN UNCERTIFICATED
SECURITY HAS BEEN REGISTERED AND THE TRANSFEREE HAS FAILED TO
SEND WRITTEN OBJECTION TO THE ISSUER WITHIN 10 DAYS AFTER RECEIPT
OF THE INITIAL TRANSACTION STATEMENT CONFIRMING THE REGISTRATION,
or payment has been made but the contract is enforceable under
this provision only to the extent of [such] THE delivery,
REGISTRATION or payment; [or]

(c)  Within a reasonable time a writing in confirmation of
the sale or purchase and sufficient against the sender under
paragraph (a) has been received by the party against whom
enforcement is sought and he has failed to send written objection
to its contents within [ten] 10 days after its receipt; or

(d)  The party against whom enforcement is sought admits in
his pleading, testimony or otherwise in court that a contract was
made for THE sale of a stated quantity of described securities at
a defined or stated price.