The transferee of a security interest in the interest of a legal owner of a numbered vessel need not make application for a transfer of ownership when the security interest arises from a pledge of security agreement by the legal owner to the pledgee.
Cal. Veh. Code § 9914
Transfer of Title or Interest in Undocumented Vessel
Added by Stats. 1970, Ch. 1428.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.