279

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 Bureau of Motor Vehicles of a notice of security interest in the form the Bureau of Motor Vehicles prescribes; provided, however, no fee shall be required other than that accepted at the time of the original filing. It is perfected as to 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 this chapter takes effect need be executed by the lienholder only.