§ 46.12.095. Requirements for perfecting security interest
A security interest in a vehicle other than one held as inventory by a manufacturer or a dealer and for which a certificate of ownership is required is perfected only by compliance with the requirements of RCW 46.12.103 under the circumstances provided for therein or by compliance with the requirements of this section:
(1) A security interest is perfected by the department's receipt of: (a) The existing certificate, if any, and (b) an application for a certificate of ownership containing the name and address of the secured party, and (c) tender of the required fee.
(2) A security interest is perfected as of the time of its creation if the secured party's name and address appear on the outstanding certificate of ownership; otherwise, as of the date on which the department has received the papers and fee required in subsection (1) of this section.
(3) If a vehicle is subject to a security interest when brought into this state, perfection of the security interest is determined by the law of the jurisdiction where the vehicle was when the security interest was attached, subject to the following:
(a) If the security interest was perfected under the law of the jurisdiction where the vehicle was when the security interest was attached, the following rules apply:
(b) If the name of the secured party is shown on the existing certificate of ownership issued by that jurisdiction, the security interest continues perfected in this state. The name of the secured party shall be shown on the certificate of ownership issued for the vehicle by this state. The security interest continues perfected in this state upon the issuance of such ownership certificate.
(c) If the security interest was not perfected under the law of the jurisdiction where the vehicle was when the security interest was attached, it may be perfected in this state; in that case, perfection dates from the time of perfection in this state.
[2000 c 250 § 9A-822; 1998 c 203 § 10; 1969 ex.s. c 170 § 16; 1967 c 140 § 6.]
Notes:
Effective date -- 2000 c 250: See RCW 62A.9A-701.
Finding -- 1998 c 203: See note following RCW 46.55.105.
Effective date -- 1967 c 140: See note following RCW 46.12.010.
Definitions: RCW 46.12.005. Sections: Previous 46.12.047 46.12.050 46.12.055 46.12.060 46.12.070 46.12.075 46.12.080 46.12.095 46.12.101 46.12.102 46.12.103 46.12.105 46.12.124 46.12.130 46.12.151 Next
Last modified: April 7, 2009