clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e
  Maryland State Archives | Index | Help | Search search for:
clear space
white space
Session Laws, 1999
Volume 796, Page 2098   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

(C) SUBJECT TO SUBSECTION (G), IF REQUESTED BY THE ACCOUNT DEBTOR,
AN ASSIGNEE SHALL SEASONABLY FURNISH REASONABLE PROOF THAT THE
ASSIGNMENT HAS BEEN MADE. UNLESS THE ASSIGNEE COMPLIES, THE ACCOUNT
DEBTOR MAY DISCHARGE ITS OBLIGATION BY PAYING THE ASSIGNOR, EVEN IF THE
ACCOUNT DEBTOR HAS RECEIVED A NOTIFICATION UNDER SUBSECTION (A).

(D) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (E) AND §§ 2A-303 OF
THIS ARTICLE AND 9-407, AND SUBJECT TO SUBSECTION (G), A TERM IN AN
AGREEMENT BETWEEN AN ACCOUNT DEBTOR AND AN ASSIGNOR OR IN A
PROMISSORY NOTE IS INEFFECTIVE TO THE EXTENT THAT IT:

(1) PROHIBITS, RESTRICTS, OR REQUIRES THE CONSENT OF THE
ACCOUNT DEBTOR OR PERSON OBLIGATED ON THE PROMISSORY NOTE TO THE
ASSIGNMENT OR TRANSFER OF, OR THE CREATION, ATTACHMENT, PERFECTION, OR
ENFORCEMENT OF A SECURITY INTEREST IN, THE ACCOUNT, CHATTEL PAPER,
PAYMENT INTANGIBLE, OR PROMISSORY NOTE; OR

(2) PROVIDES THAT THE CREATION, ATTACHMENT, PERFECTION, OR
ENFORCEMENT OF THE SECURITY INTEREST MAY GIVE RISE TO A DEFAULT, BREACH,
RIGHT OF RECOUPMENT, CLAIM, DEFENSE, TERMINATION, RIGHT OF TERMINATION,
OR REMEDY UNDER THE ACCOUNT, CHATTEL PAPER, PAYMENT INTANGIBLE, OR
PROMISSORY NOTE.

(E) SUBSECTION (D) DOES NOT APPLY TO THE SALE OF A PAYMENT
INTANGIBLE OR PROMISSORY NOTE.

(F) SUBJECT TO SUBSECTION (G), AN ACCOUNT DEBTOR MAY NOT WAIVE OR
VARY ITS OPTION UNDER SUBSECTION (B)(3).

(G) THIS SECTION IS SUBJECT TO LAW OTHER THAN THIS TITLE WHICH
ESTABLISHES A DIFFERENT RULE FOR AN ACCOUNT DEBTOR WHO IS AN INDIVIDUAL
AND WHO INCURRED THE OBLIGATION PRIMARILY FOR PERSONAL, FAMILY, OR
HOUSEHOLD PURPOSES.

(H) THIS SECTION DOES NOT APPLY TO AN ASSIGNMENT OF A
HEALTH-CARE-INSURANCE RECEIVABLE.

9-107. RESTRICTIONS ON CREATION OR ENFORCEMENT OF SECURITY INTEREST IN
LEASEHOLD INTEREST OR IN LESSOR'S RESIDUAL INTEREST.

(A) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (B), A TERM IN A LEASE
AGREEMENT IS INEFFECTIVE TO THE EXTENT THAT IT:

(1) PROHIBITS, RESTRICTS, OR REQUIRES THE CONSENT OF A PARTY TO
THE LEASE-TO THE CREATION, ATTACHMENT, PERFECTION, OR ENFORCEMENT OF A
SECURITY INTEREST IN AN INTEREST OF A PARTY UNDER THE LEASE CONTRACT OR
IN THE LESSOR'S RESIDUAL INTEREST IN THE GOODS; OR

(2) PROVIDES THAT THE CREATION, ATTACHMENT, PERFECTION, OR
ENFORCEMENT OF THE SECURITY INTEREST MAY GIVE RISE TO A DEFAULT, BREACH,
RIGHT OF RECOUPMENT, CLAIM, DEFENSE, TERMINATION, RIGHT OF TERMINATION,
OR REMEDY UNDER THE LEASE.

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1999
Volume 796, Page 2098   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact msa.helpdesk@maryland.gov.

©Copyright  October 11, 2023
Maryland State Archives