Plain Text Law

Chapter 01. General Provisions

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Regulation .01 Scope.Copy Citation

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The regulations set forth in this subtitle are effective with respect to financing statements filed on or after July 1, 2001.

Regulation .02 Definitions.Copy Citation

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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.

Regulation .03 Duties and Responsibilities.Copy Citation

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A.
The duties and responsibilities of the filing office with respect to the administration of the UCC are ministerial. In accepting for recordation or refusing to record a financing statement pursuant to this subtitle, the filing office does not:
(1)
Determine the legal sufficiency or insufficiency of a record;
(2)
Determine that a security interest in collateral exists or does not exist;
(3)
Determine that information in the record is correct or incorrect, in whole or in part; or
(4)
Create a presumption that information in the record is correct or incorrect, in whole or in part.
B.
The responsibility for the legal effectiveness of a financing statement filing rests with the filers and remitters, and the filing office bears no responsibility for effectiveness.
C.
The State and the filing office and their employees and agents are immune from liability that occurs as a result of errors in or omissions from information provided from the UCC information management system or any other errors or omissions with respect to financing statement filings.

Regulation .04 Date, Time, and Method of Filing.Copy Citation

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A.
Filing Methods.
(1)
The Filing Office may accept filings by the methods specified in §A(2)—(4) of this regulation.
(2)
Hand Delivery to the Filing Office. The file time for a UCC record delivered by this method is the date and time of presentation of a paper record to a representative of the filing office.
(3)
Postal Service or Express Mail Delivery to the Filing Office. The file time for a UCC record delivered by this method is the date the filing record is received and the time that is manually stamped on the filing by a representative of the filing office.
(4)
Electronic Transmission to the Filing Office, Excluding Telefacsimile Transmission. The file time for a UCC record delivered by this method is the date and time the filing record is received.
B.
The file times in §A of this regulation apply even though the UCC record may not yet have been accepted for filing and may be subsequently rejected.

Regulation .05 Forms.Copy Citation

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A.
The filing office shall accept for filing a form approved by the National Conference of Commissioners on Uniform State Laws or the International Association of Corporation Administrators or any other form providing the information required by Commercial Law Article, Title 9, Annotated Code of Maryland.
B.
The affidavit form required by Commercial Law Article, §9-501.1(f), Annotated Code of Maryland, is adopted and made available.
C.
Affidavit Form.

Regulation .06 Fees.Copy Citation

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A.
Expedited Service Fee. In addition to fees set forth in Commercial Law Article, §9-525, Annotated Code of Maryland, the fee is $50 for the expedited processing of a record as provided in Corporations and Associations Article, §§1-203(8) and 1-203.2, Annotated Code of Maryland.
B.
Copy Fees. In addition to the fees set forth in §A of this regulation, other fees are:
(1)
$1 per page for a copy of a record;
(2)
$6 to certify a copy of a record; and
(3)
$20 per copy or per certified copy of each record provided by expedited service.

Regulation .07 Payment Methods.Copy Citation

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A.
Fees may be paid by the methods specified in §§B—C of this regulation.
B.
Checks by Hand Delivery, by Postal Service, or by Express Mail. Personal checks, cashier's checks, and money orders made payable to the filing office and presented by these methods of delivery are accepted by the filing office.
C.
Debit Cards and Credit Cards for All Methods of Delivery. The filing office accepts payment by debit and credit cards for filings.

Regulation .08 Overpayment.Copy Citation

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The filing office shall process the record and shall refund separately at a later date any overpayment to the remitter.
Chapter annotations
Authority: Commercial Law Article, §§9-501.1 and 9-526; Corporations and Associations Article, §§1-203(8) and 1-203.2; Annotated Code of Maryland
History: Effective date: July 1, 2001 (28:12 Md. R. 1112)
History: Regulation .04A amended effective July 4, 2016 (43:13 Md. R. 714)
History: Regulation .05 amended effective December 21, 2015 (42:25 Md. R. 1546)
History: Regulation .06 amended effective July 4, 2016 (43:13 Md. R. 714)
History: Regulation .07 amended effective July 4, 2016 (43:13 Md. R. 714)