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, including the State, as if the recordation had been done on the day the security interest was acquired.
History
(1989, c. 739, s. 1; 2006-185, s. 2.)
Effect of Amendments. - Session Laws 2006-185, s. 2, effective January 1, 2007, and applicable to offenses committed on or after January 1, 2007, substituted "vessel" for "watercraft" twice.