HARRY HUGHES, Governor

2885

(B)  EXCEPT AS OTHERWISE PROVIDED IN THIS
SUBSECTION, PERFECTION AND THE EFFECT OF PERFECTION OR
NONPERFECTION OF A SECURITY INTEREST IN COLLATERAL ARE
GOVERNED BY THE LAW OF THE JURISDICTION WHERE THE COLLATERAL
IS WHEN THE LAST EVENT OCCURS ON WHICH IS BASED THE
ASSERTION THAT THE SECURITY INTEREST IS PERFECTED OR
UNPERFECTED.

(C)  IF THE PARTIES TO A TRANSACTION CREATING A
PURCHASE MONEY SECURITY INTEREST IN GOODS IN ONE
JURISDICTION UNDERSTAND AT THE TIME THAT THE SECURITY
INTEREST ATTACHES THAT THE GOODS WILL BE KEPT IN ANOTHER
JURISDICTION, THEN THE LAW OF THE OTHER JURISDICTION GOVERNS
THE PERFECTION AND THE EFFECT OF PERFECTION OR NONPERFECTION
OF THE SECURITY INTEREST FROM THE TIME IT ATTACHES UNTIL 30
DAYS AFTER THE DEBTOR RECEIVES POSSESSION OF THE GOODS AND
THEREAFTER IF THE GOODS ARE TAKEN TO THE OTHER JURISDICTION
BEFORE THE END OF THE 30-DAY PERIOD.

(D)  WHEN COLLATERAL IS BROUGHT INTO AND KEPT IN
THIS STATE WHILE SUBJECT TO A SECURITY INTEREST PERFECTED
UNDER THE LAW OF THE JURISDICTION FROM WHICH THE COLLATERAL
WAS REMOVED, THE SECURITY INTEREST REMAINS PERFECTED, BUT IF
ACTION IS REQUIRED BY SUBTITLE 3 OF THIS TITLE TO PERFECT
THE SECURITY INTEREST,

(I)  IF THE ACTION IS NOT TAKEN BEFORE THE
EXPIRATION OF THE PERIOD OF PERFECTION IN THE OTHER
JURISDICTION OR THE END OF 4 MONTHS AFTER THE COLLATERAL IS
BROUGHT INTO THIS STATE, WHICHEVER PERIOD FIRST EXPIRES, THE
SECURITY INTEREST BECOMES UNPERFECTED AT THE END OF THAT
PERIOD AND IS THEREAFTER DEEMED TO HAVE BEEN UNPERFECTED AS
AGAINST A PERSON WHO BECAME A PURCHASER AFTER REMOVAL;

(II)  IF THE ACTION IS TAKEN BEFORE THE
EXPIRATION OF THE PERIOD SPECIFIED IN SUBPARAGRAPH (I), THE
SECURITY INTEREST CONTINUES PERFECTED THEREAFTER;

(III)  FOR THE PURPOSE OF PRIORITY OVER A
BUYER OF CONSUMER GOODS (SUBSECTION (2) OF § 9-307), THE
PERIOD OF THE EFFECTIVENESS OF A FILING IN THE JURISDICTION
FROM WHICH THE COLLATERAL IS REMOVED IS GOVERNED BY THE
RULES WITH RESPECT TO PERFECTION IN SUBPARAGRAPHS (I) AND
(II).

(2) CERTIFICATE OF TITLE.

(A)  THIS SUBSECTION APPLIES TO GOODS COVERED BY
A CERTIFICATE OF TITLE ISSUED UNDER A STATUTE OF THIS STATE
OR OF ANOTHER JURISDICTION UNDER THE LAW OF WHICH INDICATION
OF A SECURITY INTEREST ON THE CERTIFICATE IS REQUIRED AS A
CONDITION OF PERFECTION.

(B)  EXCEPT AS OTHERWISE PROVIDED IN THIS
SUBSECTION, PERFECTION AND THE EFFECT OF PERFECTION OR
NONPERFECTION OF THE SECURITY INTEREST ARE GOVERNED BY THE
LAW (INCLUDING THE CONFLICT OF LAWS RULES) OF THE