§ 5-6B-17
96 words·~1 min read·
/md/corporations-and-associations/5-6b-17·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–6B–17.
(a)Except as provided in subsection
(b)of this section, a security interest in a cooperative interest shall attach, be perfected, and be enforceable as provided in Title 9 of the Commercial Law Article.
(b)The security interest may be perfected by the secured party’s taking possession of the membership certificate or by filing a financing statement as provided in Title 9 of the Commercial Law Article.
(c)On request of a secured party, the cooperative housing corporation shall note on its books and records the interest of the secured party in the cooperative interest.