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 county or city wherein the purchaser or debtor resides or elsewhere is necessary and shall not be required. Vessels, other than those that are inventory held for sale, for which a certificate of title is currently in effect, shall be exempt from the provisions of G.S. 25-9-309, 25-9-310, 25-9-312, 25-9-320, 25-9-322, 25-9-323, 25-9-324, 25-9-331, 25-9-404, 25-9-405, 25-9-406, and 25-9-501 to 25-9-526 for so long as the certificate of title remains in effect. (1989, c. 739, s.1; 2000-169, s. 39; 2006-185, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 75A - Boating and Water Safety
Article 4 - Vessel Titling Act.
§ 75A-34 - Who may apply for certificate of title; authority of employees of Commission.
§ 75A-35 - Form and contents of application.
§ 75A-36 - Notice by owner of change of address.
§ 75A-37 - Certificate of title as evidence; duration; transfer of title.
§ 75A-38 - Commission's records; fees.
§ 75A-39 - Duplicate certificate of title.
§ 75A-40 - Certificate to show security interests.
§ 75A-41 - Security interests subsequently created.
§ 75A-42 - Certificate as notice of security interest.
§ 75A-43 - Security interest may be filed within 30 days after purchase.
§ 75A-44 - Priority of security interests shown on certificates.
§ 75A-45 - Legal holder of certificate of title subject to security interest.
§ 75A-46 - Release of security interest shown on certificate of title.
§ 75A-47 - Surrender of certificate required when security interest paid.
§ 75A-48 - Levy of execution, etc.
§ 75A-49 - Registration prima facie evidence of ownership; rebuttal.