District Of Columbia § 50-1541.23 - Rights of secured party.
Full text of District Of Columbia D.C. Code § 50-1541.23 — Rights of secured party., with citation guidance and answers to common questions.
§ 50-1541.23. Rights of secured party.
50-1541.23Subject to subsection (b) of this section, the effect of perfection and nonperfection of a security interest and the priority of a perfected or unperfected security interest with respect to the rights of a purchaser or creditor, including a lien creditor, is governed by .
If, while a security interest in a vessel is perfected by any method under this chapter, the Harbor Master creates a certificate of title that does not indicate that the vessel is subject to the security interest or contain a statement that it may be subject to security interests not indicated on the certificate of title:
A buyer of the vessel, other than a person in the business of selling or leasing vessels of that kind, takes free of the security interest if the buyer, acting in good faith and without knowledge of the security interest, gives value and receives possession of the vessel; and
The security interest is subordinate to a conflicting security interest in the vessel that is perfected under after creation of the certificate of title and without the conflicting secured party’s knowledge of the security interest.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 50-1541.23
What does D.C. Code § 50-1541.23 cover?
Section 50-1541.23 ("Rights of secured party.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 50-1541.23?
A common citation format is "D.C. Code § 50-1541.23" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 50-1541.23 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.