88.02.520 - Security interests.

Security interests. (Effective July 1, 2011.)

(1) Security interests in vessels subject to the requirements of this chapter must be perfected only by indication upon the vessel's certificate of title. The provisions of chapters 46.12 and *46.16 RCW relating to vehicle registration certificates, certificates of title, certificate issuance, ownership transfer, and perfection of security interests, and other provisions that may be applied to vessels subject to this chapter, may be so applied by rule of the department if they are not inconsistent with this chapter.

     (2) Security interests may be released or acted upon as provided by the law under which they arose or were perfected. A new security interest or renewal or extension of an existing security interest is not affected except as provided under the terms of this chapter and **RCW 46.12.095.

[2010 c 161 § 1010; 1996 c 315 § 5; 1991 c 339 § 31; 1985 c 258 § 4; 1983 2nd ex.s. c 3 § 46. Formerly RCW 88.02.070.]

Notes: Reviser's note: *(1) Although directed to be recodified within chapter 46.16 RCW pursuant to chapter 161, Laws of 2010, a majority of chapter 46.16 RCW was recodified under chapter 46.16A RCW pursuant to RCW 1.08.015 (2)(k) and (3).

     **(2) RCW 46.12.095 was repealed by 2010 c 161 § 325, effective July 1, 2011. For later enactment, see RCW 46.12.675 (1) through (3).

Effective date -- Intent -- Legislation to reconcile chapter 161, Laws of 2010 and other amendments made during the 2010 legislative session -- 2010 c 161: See notes following RCW 46.04.013.

Effective dates -- 1996 c 315 §§ 1, 4, 5: See note following RCW 46.01.140.

Effective date -- 1985 c 258: "This act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public institutions, and shall take effect June 30, 1985." [1985 c 258 § 13.]

Construction -- Severability -- Effective dates -- 1983 2nd ex.s. c 3: See notes following RCW 82.04.255.