§ 27-101-1018 — Optional means of recording

Arkansas § 27-101-1018

• Jurisdiction: Arkansas
• Title: 27

Text

(a) (1) At his or her option, a lienholder may: (A) Record the lien on the manufacturer's certificate of origin; (B) Record the lien on an existing certificate of title; or (C) File with the Revenue Division of the Department of Finance and Administration a certified copy of the instrument creating and evidencing the lien or encumbrance. (2) The lienholder shall remit a fee in the amount of one dollar ($1.00) for each lien filed. (3) The recording or filing shall constitute constructive notice of the lien against the motorboat described therein to creditors of the owner, subsequent purchasers, and encumbrancers, except those liens that are by law dependent upon possession. (4) A photocopy of the manufacturer's certificate of origin or of an existing certificate of title, showing the lien recorded thereon and certified as a true and correct copy by the party recording the lien, shall be sufficient evidence of the recording. (b) (1) (A) The lien shall be deemed perfected and the constructive notice shall be effective from the date of the execution of the instrument creating and evidencing the lien or encumbrance if it is filed as authorized in this section within thirty (30) days after the date of the execution thereof. (B) If the instrument is filed more than thirty (30) days after the date of the execution thereof, the lien shall be deemed perfected and the constructive notice shall date from the time of the filing of the instrument. (2) However, the filing of a lien under this section by the lienholder and the payment of the required fee shall in no way relieve any person of the obligation of paying the fee required by law for filing a lien to be evidenced on a certificate of title of a motorboat.

Legislative History

Added by Act 2019, No. 733,§ 16, eff. 7/24/2019.