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Can you summarize MDCM Com. Law, Title 9, Subtitle 1?
Short Summary
This legal document, part of the Code of Maryland, Commercial Law, Title 9, SubTitle 1, provides definitions and terms used in the Code of Maryland. It governs purchase-money security interests in goods and software, control of deposit accounts, control of electronic chattel paper, control of certificated securities, uncertificated securities, and security entitlements, control of commodity contracts, control of securities accounts or commodity accounts, and control of letter-of-credit rights. It also provides guidelines for the description of personal or real property, collateral, and security entitlements, securities accounts, or commodity accounts. Additionally, it establishes the application of the title to various transactions and security interests. The document applies to individuals, organizations, and entities involved in commercial transactions in the state of Maryland. It does not specify any exemptions or penalties for non-compliance or violation.
Whom does it apply to?
Individuals, organizations, and entities involved in commercial transactions in the state of Maryland.
What does it govern?
This legal document provides definitions and terms used in the Code of Maryland, specifically in the Commercial Law, Title 9, SubTitle 1. It governs purchase-money security interests in goods and software, control of deposit accounts, control of electronic chattel paper, control of certificated securities, uncertificated securities, and security entitlements, control of commodity contracts, control of securities accounts or commodity accounts, and control of letter-of-credit rights. It also provides guidelines for the description of personal or real property, collateral, and security entitlements, securities accounts, or commodity accounts. Additionally, it establishes the application of the title to various transactions and security interests.
What are exemptions?
The document does not specify any exemptions.
What are the Penalties?
The document does not specify any penalties for non-compliance or violation.
Jurisdiction
Maryland