{"data":{"id":"us-md/md.-code-commercial-law-9-513","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 9–513","heading":"","body":"(a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and:\n(1) There is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or\n(2) The debtor did not authorize the filing of the initial financing statement.\n(b) To comply with subsection (a), a secured party shall cause the secured party of record to file the termination statement:\n(1) Within 1 month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or\n(2) If earlier, within 20 days after the secured party receives an authenticated demand from a debtor.\n(c) In cases not governed by subsection (a), within 20 days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if:\n(1) Except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;\n(2) The financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation;\n(3) The financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor’s possession; or\n(4) The debtor did not authorize the filing of the initial financing statement.\n(d) Except as otherwise provided in § 9-510, upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in § 9-510, for purposes of §§ 9-519(f), 9-522(a), and 9-523(b), the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.","path":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=9-513","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"da34a507c20117c5e1b28871ccb9000f79752d216f92e4caa479e900975b31cf","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-9-512","next":"us-md/md.-code-commercial-law-9-514"},"notice":"GroundRules: Original legal text. Not legal advice."}