§ 75A-48. Levy of execution, etc. - North Carolina Statutes

§ 75A‑48.  Levy ofexecution, etc.

A levy made by virtue of anexecution or other proper court order, upon a vessel for which a certificate oftitle has been issued by the Commission, shall constitute a lien, subsequent tosecurity interests previously recorded by the Commission and subsequent tosecurity interests in inventory held for sale and perfected as otherwisepermitted by law, if and when the officer making the levy reports to theCommission at its principal office, on forms provided by the Commission, thatthe levy has been made and that the vessel levied upon has been seized by andis in the custody of the officer. Should the lien thereafter be satisfied orshould the vessel levied upon and seized thereafter be released by the officer,the officer shall immediately report that fact to the Commission at itsprincipal office. After a levy and seizure by an officer and before the officerreports the levy and seizure to the Commission, any person who fraudulentlyassigns, transfers, causes the certificate of title to be assigned ortransferred, or causes a security interest to be shown upon the certificate oftitle, is guilty of a Class 1 misdemeanor. (1989, c. 739, s. 1; 1993, c. 539, s. 568; 1994, Ex.Sess., c. 24, s. 14(c); 2006‑185, s. 2.)