(a) (1) At his or her option, a lienholder may:

(A) Record the lien:

(i) On the manufacturer's statement of origin;

(ii) On an existing certificate of title; or

(iii) If the Office of Motor Vehicle determines it is technologically and economically feasible to offer the ability to electronically record a lien, through the electronic lien recording database established by the Department of Finance and Administration; and

(B) File with the Revenue Division of the Department of Finance and Administration a certified copy of the instrument creating and evidencing the lien or encumbrance.

(2) In the case of implements of husbandry, mobile homes or manufactured homes as defined in § 27-14-104, and all-terrain vehicles as defined in § 27-21-102, at his or her option, a lienholder may:

(A) Record the lien on the manufacturer's statement of origin;

(B) Record the lien on an existing certificate of title;

(C) File with the division a certified copy of the instrument creating and evidencing the lien or encumbrance; or

(D) If the office determines it is technologically and economically feasible to offer the ability to electronically record a lien, record the lien through the electronic lien recording database established by the department.

(3) He or she shall remit therewith a fee of one dollar ($1.00) for each lien to be filed.

(4) The recording or filing shall constitute constructive notice of the lien against the vehicle described therein to creditors of the owner, subsequent purchasers, and encumbrances, except those liens that are by law dependent upon possession.

(5) A photocopy of the manufacturer's statement of origin or of an existing certificate of title or of ownership, showing the lien recorded thereon and certified as a true and correct copy by the party recording the lien, shall be sufficient evidence of the recording.

(b) (1) (A) The lien shall be deemed perfected and the constructive notice shall be effective from the date of the execution of the instrument creating and evidencing the lien or encumbrance if it is filed as authorized in this section within thirty (30) days after the date of the execution thereof.

(B) If the instrument is filed more than thirty (30) days after the date of the execution thereof, the lien shall be deemed perfected and the constructive notice shall date from the time of the filing of the instrument.

(2) However, the filing of a lien under the provisions of this section by the lienholder and the payment of the fee therefor shall in no way relieve any person of the obligation of paying the fee required by law for filing a lien to be evidenced on a certificate of title of a motor vehicle.