V C Section 9914 Pledge of Security Agreement by Legal Owner

Pledge of Security Agreement by Legal Owner

9914.  The transferee of a security interest in the interest of a legal owner of a numbered vessel need not make application for a transfer of ownership when the security interest arises from a pledge of security agreement by the legal owner to the pledgee.

Added Ch. 1428, Stats. 1970. Effective November 23, 1970.