Regulation .02 Definitions.
Regulation .02 Definitions.LinkCopy Citation
A.
In this subtitle, the following terms have the meanings indicated.
B.
Terms Defined.
(1)
Amendment.
(a)
“Amendment” means a UCC record that amends the information contained in a financing statement.
(b)
“Amendment” includes assignments, continuations, and terminations.
(2)
“Assignment” means an amendment that assigns all or a part of a secured party's power to authorize an amendment to a financing statement.
(3)
“Continuation statement” has the meaning stated in Commercial Law Article, §9-102(27), Annotated Code of Maryland.
(4)
“Correction statement” means a record filed under Commercial Law Article, §9-518, Annotated Code of Maryland, indicating that a financing statement is inaccurate or wrongfully filed.
(5)
“File number” has the meaning stated in Commercial Law Article, §§9-102(36) and 9-519(a), Annotated Code of Maryland.
(6)
“Filing office” means the State Department of Assessments and Taxation.
(7)
“Filing office correction statement” means a statement of correction entered into the filing office's information system to correct an error by the filing office.
(8)
“Financing statement” has the meaning stated in Commercial Law Article, §9-102(39), Annotated Code of Maryland.
(9)
“Individual” means a human being, or a decedent in the case of a debtor that is the decedent's estate.
(10)
“Initial financing statement” means a UCC record containing the information required to be in an initial financing statement and that causes the filing office to establish the initial record of existence of a financing statement.
(11)
“Lapse date” means the date on which the effectiveness of a financing statement lapses under Commercial Law Article, §9-515, Annotated Code of Maryland.
(12)
“Organization” means a legal person who is not an individual.
(13)
“Record” means an initial financing statement, an amendment, an assignment, a continuation statement, a termination statement, or a correction statement.
(14)
Remitter.
(a)
“Remitter” means a person who tenders a UCC record to the filing office for filing, whether the person is a filer or an agent of a filer responsible for tendering the record for filing.
(b)
“Remitter” includes a service provider who acts as a filer's representative in the filing process.
(c)
“Remitter” does not include a person responsible merely for the delivery of the record to the filing office, such as the postal service or a courier service.
(15)
“Secured party of record” has the meaning stated in Commercial Law Article, §9-511, Annotated Code of Maryland.
(16)
“Termination statement” has the meaning stated in Commercial Law Article, §§9-102(79) and 9-513, Annotated Code of Maryland.
(17)
“UCC ” means the Maryland Uniform Commercial Code.