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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.)