If a boat is sold under this chapter for an amount of money that is greater than the charges owed to the marina operator plus all reasonable expenses of sale, the marina operator shall pay the excess in the following order:

1. (1) For the satisfaction of obligations held by secured parties with respect to the watercraft, in the order in which security interests in the watercraft were perfected.

2. (2) To the owner of the watercraft.

   [Pre-2002 Recodification Citation: 32-8-40-8.]

As added by P.L.2-2002, SEC.19.