§ 8-728. Security interest in vessels -- Exemptions from §§ 8-729 to 8-736 of this subtitle

   Sections 8-729 through 8-736 of this subtitle 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 vessel;

   (2) A lien given by statute to the United States, the State, or any political subdivision of the State;

   (3) A security interest in a vessel during any period in which the vessel is inventory held for sale or lease by a person or leased by that person as lessor and that person is in the business of selling vessels;

   (4) Any lien arising out of an attachment of a vessel;

   (5) Any security interest claimed on proceeds, as defined in § 9-102(a)(65) of the Commercial Law Article, if the original security interest did not have to be noted on the certificate of title in order to be perfected; or

   (6) Any vessel for which a certificate of title is not required under this subtitle.

HISTORY: 1975, ch. 432, § 2; 1990, ch. 6, § 2; 2001, ch. 408, § 3; 2007, ch. 5, § 7.