McLemore v. Liberty State Bank (In re Johnson)

MEMORANDUM

KEITH M. LUNDIN, Bankruptcy Judge.

The issue is whether a security interest in a semitrailer is perfected by filing with the Secretary of State or by notation on a certificate of title. Tennessee law controls. After consideration of the briefs, arguments, stipulations, and applicable authority, the court holds that a security interest in a semitrailer is perfected by filing with the Secretary of State.

The following constitute findings of fact and conclusions of law as required by Rule 7052 of the Bankruptcy Rules.

The facts are stipulated. On August 24, 1982, Wallace Leon and Alberta…