462A.83  Security interest in vessels — exemptions.
  This subchapter does not apply to or affect any of the following:
  1.  A lien given by statute or rule of law to a supplier of services or materials for a vessel.
  2.  A lien given by statute to the United States, this state, or any political subdivision of this state.
  3.  A security interest in a vessel created by a manufacturer or dealer who holds the vessel for sale, but a buyer in the ordinary course of trade from the manufacturer or dealer takes free of the security interest.
  4.  A lien arising out of an attachment of a vessel.
  5.  A security interest claimed on proceeds if the original security interest did not have to be noted on the certificate of title in order to be perfected.
  6.  A vessel for which a certificate of title is not required under this chapter.
  7.  A security interest perfected under chapter 554 before January 1, 1988.
87 Acts, ch 134, §10

2014 Acts, ch 1026, §143
Code editor directive applied