                                 CODE OF VIRGINIA

DEFINITIONS (§ 29.1-733.2)

The definitions in this section do not apply to any Virginia or federal law
governing licensing, numbering, or registration if the same term is used in that
law. As used in this article, unless the context requires a different
meaning:		&#8220;Abandoned watercraft&#8221; means a watercraft that is left
unattended on private property for more than 10 days without the consent of the
property&#8217;s owner, regardless of whether it was brought onto the private
property with the consent of the owner or person in control of the private
property.		&#8220;Agreement&#8221; means the same as that term is defined in
subdivision (b)(3) of § 8.1A-201.		&#8220;Barge&#8221; means a watercraft that
is not self-propelled or fitted for propulsion by sail, paddle, oar, or similar
device.		&#8220;Builder&#8217;s certificate&#8221; means a certificate of the
facts of the build of a vessel described in 46 C.F.R. § 67.99, as
amended.		&#8220;Buyer&#8221; means a person that buys or contracts to buy a
watercraft.		&#8220;Buyer in ordinary course of business&#8221; means the same
as that term is defined in subdivision (b)(9) of §
8.1A-201.		&#8220;Cancel,&#8221; with respect to a certificate of title, means
to make the certificate ineffective.		&#8220;Certificate of origin&#8221; means
a record created by a manufacturer or importer as the manufacturer&#8217;s or
importer&#8217;s proof of identity of a watercraft. The term includes a
manufacturer&#8217;s certificate or statement of origin and an importer&#8217;s
certificate or statement of origin. The term does not include a builder&#8217;s
certificate.		&#8220;Certificate of title&#8221; means a record, created by the
Department under this article or by a governmental agency of another
jurisdiction under the law of that jurisdiction that is designated as a
certificate of title by the Department or agency and is evidence of ownership of
a watercraft.		&#8220;Conspicuous&#8221; means the same as that term is defined
in subdivision (b)(10) of § 8.1A-201.		&#8220;Consumer goods&#8221; means the
same as that term is defined in subdivision (a)(23) of §
8.9A-102.		&#8220;Dealer&#8221; means any watercraft dealer as defined in §
29.1-801.		&#8220;Debtor&#8221; means the same as that term is defined in
subdivision (a)(28) of § 8.9A-102.		&#8220;Documented vessel&#8221; means a
watercraft covered by a certificate of documentation issued pursuant to 46
U.S.C. § 12105, as amended. The term does not include a foreign-documented
vessel.		&#8220;Electronic&#8221; means relating to technology having
electrical, digital, magnetic, wireless, optical, electromagnetic, or similar
capabilities.		&#8220;Electronic certificate of title&#8221; means a certificate
of title consisting of information that is stored solely in an electronic medium
and is retrievable in perceivable form.		&#8220;Foreign-documented vessel&#8221;
means a watercraft whose ownership is recorded in a registry maintained by a
country other than the United States that identifies each person that has an
ownership interest in a watercraft and includes a unique alphanumeric
designation for the watercraft.		&#8220;Good faith&#8221; means honesty in fact
and the observance of reasonable commercial standards of fair
dealing.		&#8220;Hull damaged&#8221; means compromised with respect to the
integrity of a watercraft&#8217;s hull by a collision, allision, lightning
strike, fire, explosion, running aground, or similar occurrence, or the sinking
of a watercraft in a manner that creates a significant risk to the integrity of
the watercraft&#8217;s hull.		&#8220;Hull identification number&#8221; means the
alphanumeric designation assigned to a watercraft pursuant to 33 C.F.R. Part
181, as amended.		&#8220;Knowledge&#8221; means the same as that term is defined
in § 8.1A-202.		&#8220;Lease&#8221; means the same as that term is defined in
subdivision (1)(j) of § 8.2A-103.		&#8220;Lessor&#8221; means the same as that
term is defined in subdivision (1)(p) of § 8.2A-103.		&#8220;Lien
creditor,&#8221; with respect to a watercraft, means:

1. A creditor that has acquired a lien on the watercraft by attachment, levy, or
the like;

2. An assignee for benefit of creditors from the time of assignment;

3. A trustee in bankruptcy from the date of the filing of the petition; or

4. A receiver in equity from the time of appointment.
			&#8220;Notice&#8221; means the same as that term is defined in &#xA7;
8.1A-202.			&#8220;Owner&#8221; means a person that has legal title to a
watercraft.			&#8220;Owner of record&#8221; means the owner indicated in the
files of the Department or, if the files indicate more than one owner, the one
first indicated.			&#8220;Person&#8221; means an individual, corporation,
business trust, estate, trust, statutory trust, partnership, limited liability
company, association, joint venture, public corporation, government or
governmental subdivision, agency or instrumentality, or any other legal or
commercial entity.			&#8220;Purchase&#8221; means to take by sale, lease,
mortgage, pledge, consensual lien, security interest, gift, or any other
voluntary transaction that creates an interest in a
watercraft.			&#8220;Purchaser&#8221; means a person that takes by
purchase.			&#8220;Record&#8221; means information that is inscribed on a
tangible medium or that is stored in an electronic or other medium and is
retrievable in perceivable form.			&#8220;Registration number&#8221; means the
alphanumeric designation for a vessel issued pursuant to 46 U.S.C. &#xA7; 12301,
as amended.			&#8220;Representative&#8221; means the same as that term is
defined in subdivision (b)(33) of &#xA7; 8.1A-201.			&#8220;Sale&#8221; means
the same as that term is defined in &#xA7; 8.2-106.			&#8220;Secured
party,&#8221; with respect to a watercraft, means a person:

1. In whose favor a security interest is created or provided for under a
security agreement, whether or not any obligation to be secured is outstanding;

2. That is a consignor under Title 8.9A; or

3. That holds a security interest arising under &#xA7; 8.2-401 or 8.2-505,
subsection (3) of &#xA7; 8.2-711, or subsection (5) of &#xA7; 8.2A-508.
			&#8220;Secured party of record&#8221; means the secured party whose name is
indicated as the name of the secured party in the files of the Department or, if
the files indicate more than one secured party, the one first
indicated.			&#8220;Security agreement&#8221; means the same as that term is
defined in subdivision (a)(74) of &#xA7; 8.9A-102.			&#8220;Security
interest&#8221; means an interest in a watercraft that secures payment or
performance of an obligation if the interest is created by contract or arises
under &#xA7; 8.2-401 or 8.2-505, subsection (3) of &#xA7; 8.2-711, or subsection
(5) of &#xA7; 8.2A-508. The term includes any interest of a consignor in a
watercraft in a transaction that is subject to Title 8.9A. The term does not
include the special property interest of a buyer of a watercraft on
identification of that watercraft to a contract for sale under &#xA7; 8.2-401,
but a buyer also may acquire a security interest by complying with Title 8.9A.
Except as otherwise provided in &#xA7; 8.2-505, the right of a seller or lessor
of a watercraft under Title 8.2 or Title 8.2A to retain or acquire possession of
the watercraft is not a security interest, but a seller or lessor also may
acquire a security interest by complying with Title 8.9A. The retention or
reservation of title by a seller of a watercraft notwithstanding shipment or
delivery to the buyer under &#xA7; 8.2-401 is limited in effect to a reservation
of a security interest. Whether a transaction in the form of a lease creates a
security interest is determined by &#xA7; 8.1A-304.			&#8220;Seller&#8221; means
the same as that term is defined in subdivision (1)(o) of &#xA7;
8.2A-103.			&#8220;Send&#8221; means the same as that term is defined in
subdivision (b)(36) of &#xA7; 8.1A-201.			&#8220;Sign&#8221; means, with present
intent to authenticate or adopt a record, to:

1. Make or adopt a tangible symbol; or

2. Attach to or logically associate with the record an electronic symbol, sound,
or process.
			&#8220;State&#8221; means a state of the United States, the District of
Columbia, Puerto Rico, the United States Virgin Islands, or any territory or
insular possession subject to the jurisdiction of the United
States.			&#8220;State of principal use&#8221; means the state on whose waters a
watercraft is or will be used, operated, navigated, or employed more than on the
waters of any other state during a calendar year.			&#8220;Title brand&#8221;
means a designation of previous damage, use, or condition that shall be
indicated on a certificate of title.			&#8220;Transfer of ownership&#8221; means
a voluntary or involuntary conveyance of an interest in a
watercraft.			&#8220;Value&#8221; means the same as that term is defined in
&#xA7; 8.1A-204.			&#8220;Watercraft&#8221; means any vessel that is used or
capable of being used as a means of transportation on water and is propelled by
machinery, whether or not the machinery is the principal source of propulsion,
except:

1. A seaplane;

2. An amphibious vehicle for which a certificate of title is issued pursuant to
Chapter 6 (&#xA7; 46.2-600 et seq.) of Title 46.2 or a similar statute of
another state;

3. A vessel that measures 18 feet or less in length along the centerline and is
propelled by sail;

4. A vessel that operates only on a permanently fixed, manufactured course and
whose movement is restricted to or guided by means of a mechanical device to
which the vessel is attached or by which the vessel is controlled;

5. A stationary floating structure that:
			a. Does not have and is not designed to have a mode of propulsion of its
own;			b. Is dependent for utilities upon a continuous utility hookup to a
source originating on shore; and			c. Has a permanent, continuous hookup to a
shoreside sewage system;

6. A vessel owned by the United States, a state, or a foreign government or a
political subdivision of any of them;

7. A vessel used solely as a lifeboat on another vessel; or

8. A vessel that has a valid marine document issued by the United States Coast
Guard.
			&#8220;Written certificate of title&#8221; means a certificate of title
consisting of information inscribed on a tangible medium.

HISTORY: 2013, c. 787; 2014, c. 371.