§ 38-29-130 — Disposition after mortgaging

Within forty-eight hours after a
mortgage on a manufactured home has been filed in his office, the authorized agent
shall mail to the director the certificate of title or bill of sale on which he has
affixed his certificate respecting the filing of such mortgage. Upon the receipt
thereof, the director shall note, on records to be kept and maintained by him in his
office, the fact of the existence of the mortgage on such manufactured home and
other information respecting the date thereof, the date of filing, the amount
secured by the lien thereof, the name and address of the mortgagee and of the
holder of the mortgage, if such person is other than the mortgagee, and such other
information relating thereto as appears in the certificate of the authorized agent
affixed to the certificate of title or bill of sale. The director shall thereupon issue a
new certificate of title containing, in addition to the other matters and things
required to be set forth in certificates of title, a description of the mortgage and all
information respecting said mortgage and the filing thereof as may appear in the
certificate of the authorized agent, and he shall thereafter dispose of said new
certificate of title containing said notation as provided in section 38-29-111.

Legislative History

Source: L. 83: Entire article added, p. 1458, � 1, effective June 15.