§ 6A-9-303 - Law governing perfection and priority of security interests in goods covered by a certificate of title. - Rhode Island Statutes

SECTION 6A-9-303

   § 6A-9-303  Law governing perfection andpriority of security interests in goods covered by a certificate of title.– (a) Applicability of section. This section applies to goods covered by acertificate of title, even if there is no other relationship between thejurisdiction under whose certificate of title the goods are covered and thegoods or the debtor.

   (b) When goods covered by certificate of title. Goodsbecome covered by a certificate of title when a valid application for thecertificate of title and the applicable fee are delivered to the appropriateauthority. Goods cease to be covered by a certificate of title at the earlierof the time the certificate of title ceases to be effective under the law ofthe issuing jurisdiction or the time the goods become covered subsequently by acertificate of title issued by another jurisdiction.

   (c) Applicable law. The local law of the jurisdictionunder whose certificate of title the goods are covered governs perfection, theeffect of perfection or nonperfection, and the priority of a security interestin goods covered by a certificate of title from the time the goods becomecovered by the certificate of title until the goods cease to be covered by thecertificate of title.