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: “Abandoned watercraft” means a watercraft that is left unattended on private property for more than 10 days without the consent of the property’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. “Agreement” means the same as that term is defined in subdivision (b)(3) of § 8.1A-201. “Barge” means a watercraft that is not self-propelled or fitted for propulsion by sail, paddle, oar, or similar device. “Builder’s certificate” means a certificate of the facts of the build of a vessel described in 46 C.F.R. § 67.99, as amended. “Buyer” means a person that buys or contracts to buy a watercraft. “Buyer in ordinary course of business” means the same as that term is defined in subdivision (b)(9) of § 8.1A-201. “Cancel,” with respect to a certificate of title, means to make the certificate ineffective. “Certificate of origin” means a record created by a manufacturer or importer as the manufacturer’s or importer’s proof of identity of a watercraft. The term includes a manufacturer’s certificate or statement of origin and an importer’s certificate or statement of origin. The term does not include a builder’s certificate. “Certificate of title” 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. “Conspicuous” means the same as that term is defined in subdivision (b)(10) of § 8.1A-201. “Consumer goods” means the same as that term is defined in subdivision (a)(23) of § 8.9A-102. “Dealer” means any watercraft dealer as defined in § 29.1-801. “Debtor” means the same as that term is defined in subdivision (a)(28) of § 8.9A-102. “Documented vessel” 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. “Electronic” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. “Electronic certificate of title” means a certificate of title consisting of information that is stored solely in an electronic medium and is retrievable in perceivable form. “Foreign-documented vessel” 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. “Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing. “Hull damaged” means compromised with respect to the integrity of a watercraft’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’s hull. “Hull identification number” means the alphanumeric designation assigned to a watercraft pursuant to 33 C.F.R. Part 181, as amended. “Knowledge” means the same as that term is defined in § 8.1A-202. “Lease” means the same as that term is defined in subdivision (1)(j) of § 8.2A-103. “Lessor” means the same as that term is defined in subdivision (1)(p) of § 8.2A-103. “Lien creditor,” 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. “Notice” means the same as that term is defined in § 8.1A-202. “Owner” means a person that has legal title to a watercraft. “Owner of record” means the owner indicated in the files of the Department or, if the files indicate more than one owner, the one first indicated. “Person” 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. “Purchase” 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. “Purchaser” means a person that takes by purchase. “Record” 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. “Registration number” means the alphanumeric designation for a vessel issued pursuant to 46 U.S.C. § 12301, as amended. “Representative” means the same as that term is defined in subdivision (b)(33) of § 8.1A-201. “Sale” means the same as that term is defined in § 8.2-106. “Secured party,” 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;
3. That holds a security interest arising under § 8.2-401 or 8.2-505, subsection (3) of § 8.2-711, or subsection (5) of § 8.2A-508. “Secured party of record” 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. “Security agreement” means the same as that term is defined in subdivision (a)(74) of § 8.9A-102. “Security interest” means an interest in a watercraft that secures payment or performance of an obligation if the interest is created by contract or arises under § 8.2-401 or 8.2-505, subsection (3) of § 8.2-711, or subsection (5) of § 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 § 8.2-401, but a buyer also may acquire a security interest by complying with Title 8.9A. Except as otherwise provided in § 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 § 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 § 8.1A-304. “Seller” means the same as that term is defined in subdivision (1)(o) of § 8.2A-103. “Send” means the same as that term is defined in subdivision (b)(36) of § 8.1A-201. “Sign” means, with present intent to authenticate or adopt a record, to:
2. Attach to or logically associate with the record an electronic symbol, sound, or process. “State” 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. “State of principal use” 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. “Title brand” means a designation of previous damage, use, or condition that shall be indicated on a certificate of title. “Transfer of ownership” means a voluntary or involuntary conveyance of an interest in a watercraft. “Value” means the same as that term is defined in § 8.1A-204. “Watercraft” 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:
2. An amphibious vehicle for which a certificate of title is issued pursuant to Chapter 6 (§ 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;
8. A vessel that has a valid marine document issued by the United States Coast Guard. “Written certificate of title” means a certificate of title consisting of information inscribed on a tangible medium.