47-9303

47-9303. 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.