§ 41-202 — Disposal of void or lapsed instruments; termination statement; exceptions.

(a) Unless the Recorder of Deeds has notice of an action pending relative thereto, he may remove from the files and destroy:

(1) An instrument filed in his office pursuant to Chapter 12 of Title 50 , which has become void or lapsed, and which has been void or lapsed for 1 year or more, together with any affidavit, release, assignment, or continuation or termination statement relating thereto;

(2) A lapsed financing statement, a lapsed continuation statement, a statement of assignment or release relating to either, filed pursuant to part 4 of Article 9 of Subtitle I of Title 28 , and any index of any of them, 1 year or more after lapse of the financing statement and every continuation statement related thereto; and

(3) A termination statement filed pursuant to § 28:9-404 , and the index on which it is noted, 1 year or more after the filing of the termination statement.

(b) Subsection (a) of this section does not apply to a bill of sale, mortgage, deed of trust, conditional sale of, financing statement or security agreement covering, railroad rolling stock.

Legislative History

Mar. 3, 1901, ch. 854, § 546-D; June 5, 1952, 66 Stat. 126, ch. 370, § 3; June 18, 1953, 67 Stat. 64, ch. 126, § 1; Dec. 30, 1963, 77 Stat. 772, Pub. L. 88-243, § 11