§ 75A-45. Legal holder of certificate of title subject to security interest. - North Carolina Statutes

§ 75A‑45.  Legal holderof certificate of title subject to security interest.

The certificate of title of avessel shall be delivered to the person holding the security interest havingfirst priority upon the vessel and retained by that person until the entireamount of the security interest is fully paid by the owner of the vessel. Thecertificate of title shall then be delivered to the secured party next in orderof priority and so on, or, if none, then to the owner of the vessel. (1989, c. 739, s. 1; 2006‑185,s. 2.)