§ 75A-42. Certificate as notice of security interest. - North Carolina Statutes

§ 75A‑42.  Certificateas notice of security interest.

A certificate of title, whenissued by the Commission showing a security interest, shall be deemed adequatenotice to the State, creditors, and purchasers that a security interest in thevessel exists. No other recording or filing of the creation or reservation of asecurity interest in the county or city wherein the purchaser or debtor residesor elsewhere is necessary and shall not be required. Vessels, other than thosethat are inventory held for sale, for which a certificate of title is currentlyin 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 solong as the certificate of title remains in effect. (1989, c. 739, s.1; 2000‑169,s. 39; 2006‑185, s. 2.)