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§9-303. Law governing perfection and priority of security interests in goods covered by a


Published: 2015

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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

009

:
Secured Transactions











 

§

9-303. Law governing perfection and priority of security interests in goods

covered by a certificate of title

(a) This section

applies to goods covered by a certificate of title, even if there is no other

relationship between the jurisdiction under whose certificate of title the

goods are covered and the goods or the debtor.

(b) Goods become

covered by a certificate of title when a valid application for the certificate

of title and the applicable fee are delivered to the appropriate authority.

Goods cease to be covered by a certificate of title at the earlier of the time

the certificate of title ceases to be effective under the law of the issuing

jurisdiction or the time the goods become covered subsequently by a certificate

of title issued by another jurisdiction.

(c) The local

law of the jurisdiction under whose certificate of title the goods are covered

governs perfection, the effect of perfection or nonperfection, and the priority

of a security interest in goods covered by a certificate of title from the time

the goods become covered by the certificate of title until the goods cease to

be covered by the certificate of title. (Added 1999, No. 106 (Adj. Sess.), § 2,

eff. July 1, 2001.)