{"data":{"id":"us-md/md.-code-commercial-law-9-323","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 9–323","heading":"","body":"(a) Except as otherwise provided in subsection (b), for purposes of determining the priority of a perfected security interest under § 9-322(a)(1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:\n(1) Is made while the security interest is perfected only:\n(A) Under § 9-309 when it attaches; or\n(B) Temporarily under § 9-312(e), (f), or (g); and\n(2) Is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under § 9-309 or § 9-312(e), (f), or (g).\n(b) Subsection (a) does not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.\n(c) Except as otherwise provided in subsection (d), a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures advances made after the earlier of:\n(1) The time the secured party acquires knowledge of the buyer’s purchase; or\n(2) 45 days after the purchase.\n(d) Subsection (c) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer’s purchase and before the expiration of the 45-day period.\n(e) Except as otherwise provided in subsection (f), a lessee of goods, other than a lessee in ordinary course of business, takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:\n(1) The time the secured party acquires knowledge of the lease; or\n(2) 45 days after the lease contract becomes enforceable.\n(f) Subsection (e) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the 45-day period.","path":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=9-323","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"11b4b5f171fc3298a405df2d8e3447516c31bf0751996f373db513816afe467a","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-9-322","next":"us-md/md.-code-commercial-law-9-324"},"notice":"GroundRules: Original legal text. Not legal advice."}