§ 37-1290 — Security interest perfected prior to January 1, 1997; treatment; notation of lien

Nebraska § 37-1290

• Jurisdiction: Nebraska
• Ch. 37: Game and Parks

Text

(1) Any
security interest in a motorboat perfected prior to January 1, 1997, shall
continue to be perfected (a) until the financing statement perfecting such
security interest is terminated or would have lapsed in the absence of the
filing of a continuation statement pursuant to article 9, Uniform Commercial
Code, or (b) until a motorboat certificate of title is issued and a lien noted pursuant
to section 37-1282 .
(2) Any lien noted on the face of a motorboat certificate of title or on an electronic certificate of title
record after January 1, 1997, pursuant to subsection (1) of this
section, on behalf of the holder of a security interest in the motorboat,
shall have priority as of the date such security interest was originally perfected.
(3) The holder of a motorboat certificate of title shall, upon request,
surrender the motorboat certificate of title to a holder of a security interest
in the motorboat which was perfected prior to January 1, 1997, to permit notation
of a lien on the motorboat certificate of title and shall do such other acts
as may be required to permit such notation.
(4) The assignment, release, or satisfaction of a security interest
in a motorboat shall be governed by the laws under which it was perfected.

Legislative History

Source: Laws 1994, LB 123, § 18; Laws 1999, LB 550, § 8; Laws 2009, LB202, § 9.