(a) A buyer in ordinary course of business has the protections afforded by §§ 28:2-403(2) and 28:9-320(a) even if an existing certificate of title was not signed and delivered to the buyer or a new certificate of title listing the buyer as owner of record was not created.
(b) Except as otherwise provided in §§ 50-1541.16 and 50-1541.23, the rights of a purchaser of a vessel that is not a buyer in ordinary course of business or a lien creditor are governed by Subtitle I of Title 28.