A security interest in a previously registered vehicle for which no certificate of title or application for a certificate is required is perfected by the delivery to the department of a notice of security interest in the form the director prescribes and the required fee. It is perfected as of the time of its creation if the delivery is completed within 10 days thereafter, otherwise as of the time of delivery. A notice of a security interest created or reserved before September 1, 1968, need be executed by the lienholder only.
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