46.2-641 - Who to hold certificate of title subject to security interest. - Virginia Statutes

§ 46.2-641. Who to hold certificate of title subject to security interest.

The certificate of title of a motor vehicle, trailer, or semitrailer shall bedelivered to the person holding the security interest having first priorityon the motor vehicle, trailer, or semitrailer and retained by him until theentire amount of his security interest is fully paid by the owner. When thesecurity interest is fully paid, the certificate of title shall be deliveredto the secured party next in order of priority or, if none, then to the owner.

(Code 1950, § 46-74; 1958, c. 541, § 46.1-74; 1966, c. 558; 1989, c. 727.)