450

LAWS OF MARYLAND

Ch. 8

(1)  TO PERFECT A SECURITY INTEREST IN INVENTORY;

(2)  TO PERFECT A SECURITY INTEREST IN CONTRACT
RIGHTS, GENERAL INTANGIBLES, OR ACCOUNTS;

(3)  TO PERFECT A SECURITY INTEREST IN FARM PRODUCTS
OR IN EQUIPMENT USED IN FARMING OPERATIONS;

(4)  TO PERFECT A SECURITY INTEREST TAKEN OR RETAINED
BY A SELLER OF COLLATERAL TO SECURE ALL OR PART OF ITS PRICE; OR

(5)  TO PUBLICIZE A LEASE OF GOODS OR FIXTURES . ,
PROVIDED THAT THE SECURITY AGREEMENT STATES ON ITS FACE THAT IT
DOES NOT CREATE A SECURITY INTEREST.

(L) JUDGMENTS.

A JUDGMENT OF A COURT IS NOT SUBJECT TO RECORDATION TAX.

(M) RELEASES.

A RELEASE IS NOT SUBJECT TO RECORDATION TAX.

(N) ORDER OF SATISFACTION.

AN ORDER OF SATISFACTION IS NOT SUBJECT TO RECORDATION TAX.

(0) PARTICIPATION AGREEMENT.

A PARTICIPATION AGREEMENT THAT SHOWS AN INTEREST OF A PERSON
IN A NOTE, MORTGAGE, OR DEED OF TRUST THAT IS BASED ON A
PREVIOUSLY RECORDED LOAN TO THE MORTGAGOR OR GRANTOR UNDER A DEED
OF TRUST IS NOT SUBJECT TO RECORDATION TAX.

(P) TRANSFER OF CORPORATE PROPERTY BETWEEN RELATED
CORPORATIONS.

AN INSTRUMENT OF WRITING IS NOT SUBJECT TO RECORDATION TAX
IF THE INSTRUMENT OF WRITING IS:

(1)  A TRANSFER OF TITLE TO REAL PROPERTY BETWEEN A
PARENT CORPORATION AND ITS SUBSIDIARY CORPORATION OR BETWEEN 2 OR
MORE SUBSIDIARY CORPORATIONS WHOLLY OWNED BY THE SAME PARENT
CORPORATION FOR:

(I)  NO CONSIDERATION;

(II)  NOMINAL CONSIDERATION; OR

(III)  CONSIDERATION THAT COMPRISES ONLY THE
ISSUANCE, CANCELLATION, OR SURRENDER OF STOCK OF A SUBSIDIARY
CORPORATION; OR

(2)  A DEED MADE: