29.1-728 - Who to hold certificate of title subject to security interest. - Virginia Statutes

§ 29.1-728. Who to hold certificate of title subject to security interest.

The certificate of title of the watercraft shall be delivered to the personholding the security interest having first priority upon the watercraft andretained by that person until the entire amount of the security interest isfully paid by the owner of the watercraft. The certificate of title shallthen be delivered to the secured party next in order of priority and so on,or, if none, then to the owner of the watercraft.

(1981, c. 405, § 62.1-186.17; 1987, c. 488.)