N.C. Gen. Stat. § 75A-45
Legal holder of certificate of title subject to security interest
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
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 vessel. The certificate of title shall then be delivered to the secured party next in order of priority and so on, or, if none, then to the owner of the vessel.
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 vessel. The certificate of title shall then be delivered to the secured party next in order of priority and so on, or, if none, then to the owner of the vessel.
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" throughout this section.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.