§701. Creation of security interests 1. Application. If an owner creates a security interest in a vehicle, the owner shall: A. Complete an application that provides the name and address of the lienholder and the date of the lien; and [PL 1993, c. 683, Pt. A, §2 (NEW); PL 1993, c. 683, Pt. […]
§702. Perfecting security interest 1. Valid against creditors, transferees and lienholders. A security interest in a vehicle for which a certificate of title is issued is not valid against creditors of the owner or subsequent transferees or lienholders unless perfected as provided in this subchapter. [PL 1993, c. 683, Pt. A, §2 (NEW); PL […]
§703. Exemptions This subchapter does not affect: [PL 1993, c. 683, Pt. A, §2 (NEW); PL 1993, c. 683, Pt. B, §5 (AFF).] 1. Liens for services or materials. A lien given by statute or rule of law to a supplier of services or materials for the vehicle; [PL 1993, c. 683, Pt. […]
§704. Assignment of security interest 1. Assignment. A lienholder may assign a security interest to a person other than the owner without affecting the interest of the owner or the validity of the security interest. Except as provided in subsection 5, a lienholder who assigns a security interest to a person other than the owner […]
§705. Release of security interest 1. Release on satisfaction. Upon satisfaction of the security interest of the lienholder, the lienholder shall, within 14 days of receipt of funds intended to satisfy the security interest of the lienholder, execute a release of the security interest in the space provided on the certificate. The lienholder shall: […]
§706. Lienholder to furnish information Upon request of the owner, another lienholder named on the certificate of title or certificate of salvage or a dealer to which the vehicle has been transferred, a lienholder shall disclose pertinent information as to the security agreement, the indebtedness secured by that agreement, the existence and identity of subordinate […]
§707. Method of perfecting security interest exclusive This subchapter provides the exclusive method for perfecting and giving notice of security interests subject to this subchapter. These security interests are exempt from other provisions of law concerning the filing of instruments creating or evidencing security interests. [PL 1993, c. 683, Pt. A, §2 (NEW); PL […]
§708. Manufactured housing or tiny home This subchapter applies to perfection of security interests in manufactured housing or a tiny home that is not permanently affixed to real property that is owned by the owner of the manufactured housing or tiny home. [PL 2019, c. 650, §10 (AMD).] SECTION HISTORY PL 2005, c. 678, […]
