Texas Parks and Wildlife Code

§ 31.0569 — PERFECTION OF SECURITY INTEREST

PW § 31.0569Title 4. WATER SAFETY · Ch. 31. WATER SAFETY · Art. B-1. CERTIFICATES OF TITLE FOR VESSELS AND OUTBOARD MOTORS

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(a)A security interest in a vessel or outboard motor may be perfected only by delivery to the department of an application for a certificate of title that identifies the secured party and otherwise complies with Section 31.049. The security interest is perfected on the later of delivery to the department of the application and the applicable fee or attachment of the security interest under Section 9.203, Business & Commerce Code.

(b)If the interest of a person named as owner, lessor, consignor, or bailor in an application for a certificate of title delivered to the department is a security interest, the application sufficiently identifies the person as a secured party. Identification on the application for a certificate of title of a person as owner, lessor, consignor, or bailor is not by itself a factor in determining whether the person's interest is a security interest.

(c)If the department has issued a certificate of title for a vessel or outboard motor, a security interest in the vessel or outboard motor may be perfected by delivery to the department of an application, on a form prescribed by the department, to have the security interest added to the certificate of title. The application must be signed by an owner of the vessel or outboard motor or by the secured party and must include:

(1)the name of the owner of record;

(2)the name and mailing address of the secured party;

(3)the hull identification number of the vessel and serial number of the outboard motor, as applicable; and

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