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UCC Article 9 Sales: Maryland

May 11, 2022

Thomson Reuters

PRACTICAL LAW

By Michael Lichtenstein, Bankruptcy, Restructuring & Creditors’ Rights 

This document is published by Practical Law and can be found at: us.practicallaw.tr.com/w-034-2646

A Q&A guide to Uniform Commercial Code (UCC) Article 9 Sales in Maryland. Article 9 of the Model UCC is intended to create a uniform system across the country for creating, perfecting, and enforcing security interests in personal property. Although Article 9 has been adopted by many states, some states have made modifiations to the law or have not adopted the most recent version of the law. This Q&A addresses the process by which secured creditors may exercise their rights to enforce their security interests in personal property under Maryland’s equivalent Article 9 statutes, including repossession remedies, notice requirements, disposition of proceeds, and collateral repurchase. Answers to questions can be compared across a number of jurisdictions (see UCC Article 9 Sales: State Q&A Tool). Click the link below to read more.