The requirements of this chapter relating to security interests and certificate of title do not apply to or affect:
(1) a lien given by statute or rule of law to a supplier of services or materials for the watercraft while the watercraft is in the possession of the lienholder;
(2) a lien given by statute to the United States, this state, or a political subdivision of this state; or
(3) a security interest in a watercraft created by a manufacturer or dealer who holds the watercraft for sale.
History: 1989 c 335 art 1 s 233; 1990 c 391 art 10 s 3
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