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Session Laws, 1999
Volume 796, Page 2102   View pdf image
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(A) THE COLLATERAL IS AS-EXTRACTED COLLATERAL OR TIMBER

TO BE CUT; OR

(B) THE FINANCING STATEMENT IS FILED AS A FIXTURE FILING
AND THE COLLATERAL IS GOODS THAT ARE OR ARE TO BECOME FIXTURES, OR

(2) THE MARYLAND STATE DEPARTMENT OF ASSESSMENTS AND
TAXATION ("DEPARTMENT"), IN ALL OTHER CASES, INCLUDING A CASE IN WHICH THE
COLLATERAL IS GOODS THAT ARE OR ARE TO BECOME FIXTURES AND THE
FINANCING STATEMENT IS NOT FILED AS A FIXTURE FILING

(B) THE OFFICE IN WHICH TO FILE A FINANCING STATEMENT TO PERFECT A
SECURITY INTEREST IN COLLATERAL, INCLUDING FIXTURES, OF A TRANSMITTING
UTILITY IS THE DEPARTMENT. THE FINANCING STATEMENT ALSO CONSTITUTES A
FIXTURE FILING AS TO THE COLLATERAL INDICATED IN THE FINANCING
STATEMENT WHICH IS OR IS TO BECOME FIXTURES.

9-502. CONTENTS OF FINANCING STATEMENT; RECORD OF MORTGAGE AS
FINANCING STATEMENT; TIME OF FILING FINANCING STATEMENT.

(A) SUBJECT TO SUBSECTION (B), A FINANCING STATEMENT IS SUFFICIENT
ONLY IF IT:

(1) PROVIDES THE NAME OF THE DEBTOR;

(2) PROVIDES THE NAME OF THE SECURED PARTY OR A
REPRESENTATIVE OF THE SECURED PARTY; AND

(3) INDICATES THE COLLATERAL COVERED BY THE FINANCING
STATEMENT.

(B) EXCEPT AS OTHERWISE PROVIDED IN § 9-501(B), TO BE SUFFICIENT, A
FINANCING STATEMENT THAT COVERS AS-EXTRACTED COLLATERAL OR TIMBER TO
BE CUT, OR WHICH IS FILED AS A FIXTURE FILING AND COVERS GOODS THAT ARE OR
ARE TO BECOME FIXTURES, MUST SATISFY SUBSECTION (A) AND ALSO:

(1) INDICATE THAT IT COVERS THIS TYPE OF COLLATERAL;

(2) INDICATE THAT IT IS TO BE RECORDED IN THE LAND RECORDS;

(3) PROVIDE A DESCRIPTION OF THE REAL PROPERTY TO WHICH THE
COLLATERAL IS RELATED; AND

(4) IF THE DEBTOR DOES NOT HAVE AN INTEREST OF RECORD IN THE
REAL PROPERTY, PROVIDE THE NAME OF A RECORD OWNER

(C) A RECORD OF A MORTGAGE IS EFFECTIVE, FROM THE DATE OF
RECORDING, AS A FINANCING STATEMENT FILED AS A FIXTURE FILING OR AS A
FINANCING STATEMENT COVERING AS-EXTRACTED COLLATERAL OR TIMBER TO BE
CUT ONLY IF:

(1) THE RECORD INDICATES THE GOODS OR ACCOUNTS THAT IT

COVERS;

 

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Session Laws, 1999
Volume 796, Page 2102   View pdf image
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