§ 46-22.1-9 - Security interest in vessels – Exemptions.
SECTION 46-22.1-9
§ 46-22.1-9 Security interest in vessels– Exemptions. – Sections 46-22.1-10 – 46-22.1-17 do not apply to or affect:
(1) A lien given by statute or rule of law to a supplier ofservices or materials for the vessel;
(2) A lien given by statute to the United States, this state,or any political subdivision of this state;
(3) A security interest in a vessel created by a manufactureror dealer who holds the vessel for sale, but a buyer in the ordinary course oftrade from the manufacturer or dealer takes free of the security interest;
(4) Any lien arising out of an attachment of a vessel;
(5) Any security interest claimed on proceeds, as defined insubdivision (2), if the original security interest did not have to be noted onthe certificate of title in order to be perfected; or
(6) Any vessel for which a certificate of title is notrequired under this chapter.