§ 75A-47 – Surrender of certificate required when security interest paid.
75A-47. Surrender of certificate required when security interest paid. It is unlawful and constitutes a Class 1 misdemeanor for a secured party who holds a certificate of title as provided in this Article to refuse or fail to surrender the certificate of title to the person legally entitled to it within 10 days after the […]
§ 75A-48 – Levy of execution, etc.
75A-48. Levy of execution, etc. A levy made by virtue of an execution or other proper court order, upon a vessel for which a certificate of title has been issued by the Commission, shall constitute a lien, subsequent to security interests previously recorded by the Commission and subsequent to security interests in inventory held for […]
§ 75A-49 – Registration prima facie evidence of ownership; rebuttal.
75A-49. Registration prima facie evidence of ownership; rebuttal. A valid certificate of number issued under the provisions of this Chapter, or any similar document issued under the jurisdiction of any other state or country, shall be prima facie evidence of ownership of a vessel and entitlement to a certificate of title under the provisions of […]
§ 75A-40 – Certificate to show security interests.
75A-40. Certificate to show security interests. The Commission, after receiving an application for a certificate of title for a vessel, shall, upon issuing the certificate of title to the owner, show upon the face of the certificate of title all security interests in the order of their priority as shown in the application. (1989, c. […]
§ 75A-41 – Security interests subsequently created.
75A-41. Security interests subsequently created. Except for security interests in vessels that are inventory held for sale, security interests created in vessels by the voluntary act of the owner after the original issue of title to the owner must be shown on the certificate of title. In such cases, the owner shall file an application […]
§ 75A-42 – Certificate as notice of security interest.
75A-42. Certificate as notice of security interest. A certificate of title, when issued by the Commission showing a security interest, shall be deemed adequate notice to the State, creditors, and purchasers that a security interest in the vessel exists. No other recording or filing of the creation or reservation of a security interest in the […]
§ 75A-43 – Security interest may be filed within 30 days after purchase.
75A-43. Security interest may be filed within 30 days after purchase. If application for the recordation of a security interest to be placed upon a vessel is filed in the principal office of the Commission within 30 days from the date of the applicant’s purchase of the vessel, it shall be valid to all persons, […]
§ 75A-44 – Priority of security interests shown on certificates.
75A-44. Priority of security interests shown on certificates. Except for security interests in vessels that are inventory held for sale, security interests shown upon the certificates of title issued by the Commission pursuant to applications for certificates shall have priority over any other liens or security interests against the vessel however created and recorded, except […]
§ 75A-45 – Legal holder of certificate of title subject to security interest.
75A-45. Legal holder of certificate of title subject to security interest. The certificate of title of a vessel shall be delivered to the person holding the security interest having first priority upon the vessel and retained by that person until the entire amount of the security interest is fully paid by the owner of the […]
§ 75A-46 – Release of security interest shown on certificate of title.
75A-46. Release of security interest shown on certificate of title. An owner, upon securing the release of any security interest upon a vessel shown upon the certificate of title issued for the vessel, may exhibit the documents evidencing the release, signed by the person or persons making the release, and the certificate of title to […]