§ 75A-46. Release of security interest shown on certificate of title. - North Carolina Statutes

§ 75A‑46.  Release ofsecurity interest shown on certificate of title.

An owner, upon securing therelease of any security interest upon a vessel shown upon the certificate oftitle issued for the vessel, may exhibit the documents evidencing the release,signed by the person or persons making the release, and the certificate oftitle to the Commission. When it is impossible to secure the release from thesecured party, the owner may exhibit to the Commission any available evidenceshowing that the debt secured has been satisfied, together with a statement bythe owner under oath that the debt has been paid. If the Commission determinesthat the secured debt has been satisfied in full, the Commission shall issue tothe owner either a new certificate of title in proper form or an endorsement orrider showing the release of the security interest which the Commission shallattach to the outstanding certificate of title. (1989, c. 739, s. 1; 2006‑185,s. 2.)