86B.890 LICENSED WATERCRAFT PREVIOUSLY PERFECTED.
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/mn/chapter-86/86b-890A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
86B.890 LICENSED WATERCRAFT PREVIOUSLY PERFECTED.
(a)If a security interest in a previously licensed watercraft is perfected under other applicable Minnesota law on January 1, 1991, the security interest continues perfected:
(1)until its perfection lapses under the law under which it was perfected or would lapse in the absence of a further filing; or
(2)until a certificate of title for the watercraft is issued and the security interest is perfected under section 86B.880 .
(b)The assignment, release, or satisfaction of a security interest in a previously licensed watercraft is governed by the laws under which it was perfected.