Maryland § 8-111
Full text of Maryland Maryland Code § 8-111, with citation guidance and answers to common questions.
§ 8-111.
(a) (1) Payment of a secured claim shall be on the basis of the full amount if the creditor shall surrender the creditor’s security.
(2) If payment is not made on the basis described in paragraph (1) of this subsection, it shall be made as provided in subsection (b) or (c) of this section.
(b) If during administration, the creditor exhausts the security before receiving payment, the creditor is entitled to the full amount of the creditor’s allowed claim less the amount realized on exhausting the security.
(c) If the creditor has not then exhausted, or does not have the right to exhaust the creditor’s security, the creditor is entitled to the full amount of the creditor’s allowed claim less the value of the security determined by agreement, or as the court determines.
Frequently Asked Questions About Maryland § 8-111
What does Maryland Code § 8-111 cover?
Section 8-111 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 8-111?
A common citation format is "Maryland Code § 8-111" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 8-111 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.