Section 86B.915 — Liens Attaching To Watercraft.
86B.915 LIENS ATTACHING TO WATERCRAFT. (a) A nonpossessory lien on a titled watercraft is not perfected unless a lien statement is filed with the commissioner. (b) The lien statement must include: (1) the watercraft owner’s name and address; (2) the statute under which the lien is taken; (3) the name and address of the lienholder; […]
Section 86B.920 — Stolen Watercraft.
86B.920 STOLEN WATERCRAFT. Subdivision 1. Duty of peace officers. A peace officer aware of a stolen or converted watercraft shall immediately furnish the commissioner with information concerning the theft or conversion. Subd. 2. Duty of commissioner. The commissioner, upon receiving a report of the theft or conversion of a watercraft, shall record the report information, […]
Section 86B.885 — Owner-created Security Interest.
86B.885 OWNER-CREATED SECURITY INTEREST. Paragraphs (a) to (d) apply if an owner creates a security interest in a titled watercraft. (a) The owner shall immediately execute the application in the space provided on the certificate of title or on a separate form prescribed by the commissioner, show the name and address of the secured party […]
Section 86B.890 — Licensed Watercraft Previously Perfected.
86B.890 LICENSED WATERCRAFT PREVIOUSLY PERFECTED. (a) If a security interest in a previously licensed watercraft is perfected under other applicable Minnesota law on January 1, 1991, the security interest continues perfected: (1) until its perfection lapses under the law under which it was perfected or would lapse in the absence of a further filing; or […]
Section 86B.895 — Satisfaction Of Security Interest.
86B.895 SATISFACTION OF SECURITY INTEREST. Subdivision 1. Release. Upon the satisfaction of a security interest in a watercraft for which the certificate of title is in the possession of the secured party, the secured party, within 15 days, shall execute a release of the security interest in the space provided on the certificate or as […]
Section 86B.900 — Disclosing Security Agreement.
86B.900 DISCLOSING SECURITY AGREEMENT. A secured party named in a certificate of title, upon written request of the owner or other secured party named on the certificate, must disclose pertinent information about the security agreement and the indebtedness secured by it. History: 1989 c 335 art 1 s 238; 1990 c 391 art 10 s […]
Section 86B.905 — Effect Of Suspension Or Revocation On Security Interest.
86B.905 EFFECT OF SUSPENSION OR REVOCATION ON SECURITY INTEREST. Suspension or revocation of a certificate of title does not, in itself, affect the validity of a security interest noted on it. History: 1989 c 335 art 1 s 239; 1990 c 391 art 10 s 3
Section 86B.910 — Undisclosed Security Interests.
86B.910 UNDISCLOSED SECURITY INTERESTS. If the commissioner is not satisfied that there are no undisclosed security interests created before the watercraft is initially titled, the commissioner may, in addition to its options under section 86B.830, subdivision 4, issue a distinctive certificate of title for the watercraft containing the legend: “This watercraft may be subject to […]
Section 86B.865 — Penalties.
86B.865 PENALTIES. Subdivision 1. Felony. A person is guilty of a felony and punishable by imprisonment for a term of not more than four years, or payment of a fine of not more than $5,000, or both, if the person with fraudulent intent: (1) uses a false or fictitious name or address, makes a material […]
Section 86B.870 — Title Fees.
86B.870 TITLE FEES. Subdivision 1. Fees. (a) The fee to be paid to the commissioner: (1) for issuing an original certificate of title, including the concurrent notation of an assignment of the security interest and its subsequent release or satisfaction, is $15; (2) for each security interest when first noted upon a certificate of title, […]