(a) The Bureau of Motor Vehicles shall file such notice of security interest received by it and maintain a record of all notices of security interests filed by it:
(1) Alphabetically, under the name of the owner;
(2) Under the identifying number of the vehicle; and
(3) In the discretion of the Bureau of Motor Vehicles, in any other method it determines.
(b) The Bureau of Motor Vehicles need not maintain, in the record provided for in subsection (a) of this section, any reference to a security interest in a previously registered vehicle after the Bureau of Motor Vehicles files a notice of release of the security interest or issues a certificate of title of the vehicle containing the name of the lienholder.
(c) The Bureau of Motor Vehicles, before issuing or reissuing a certificate of title, shall check the name of the owner and the identifying number of the vehicle against the record provided for in subsection (a) of this section.