§ 46.2-638. Certificate as notice of security interest
A certificate of title, when issued by the Department showing a security interest, shall be adequate notice to the Commonwealth, creditors, and purchasers that a security interest in the motor vehicle exists and the recording or filing of such creation or reservation of a security interest in the county or city wherein the purchaser or debtor resides or elsewhere is not necessary and shall not be required. Motor vehicles, trailers or semitrailers, other than those which are inventory held for sale, registered or for which a certificate of title shall have been issued under this title shall not be subjected to, but shall be exempt from the provisions of §§ 8.9A-301 through 8.9A-527 and § 55-96 whether or not inventory held for sale shall be exempt from the provisions of § 55-152, nor shall recordation or filing of such security interest, except a security interest in inventory held for sale in any other place for any other purpose, be required or have any effect.
(Code 1950, § 46-71; 1958, c. 541, § 46.1-71; 1966, c. 558; 1989, c. 727; 2006, c. 896.)
Sections: Previous 46.2-631 46.2-632 46.2-633 46.2-634 46.2-635 46.2-636 46.2-637 46.2-638 46.2-639 46.2-640 46.2-640.1 46.2-641 46.2-642 46.2-643 46.2-644 NextLast modified: April 16, 2009