§ 42-116-36. Recording certain transfer documents.
If the corporation receives or makes an assignment, conveyance or other transfer of
commercial paper consisting of negotiable or non-negotiable instruments or contracts
that are secured by any mortgage, assignment of rents, profits, or income of real
estate, security interests in fixtures or personal property or other instruments or
documents that provide collateral security for the commercial paper, the officer responsible
for the recording of deeds or other instruments in the records of each city or town
where the original instruments or documents that granted the collateral security were
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§ 42-116-36. Recording certain transfer documents.
If the corporation receives or makes an assignment, conveyance or other transfer of
commercial paper consisting of negotiable or non-negotiable instruments or contracts
that are secured by any mortgage, assignment of rents, profits, or income of real
estate, security interests in fixtures or personal property or other instruments or
documents that provide collateral security for the commercial paper, the officer responsible
for the recording of deeds or other instruments in the records of each city or town
where the original instruments or documents that granted the collateral security were
recorded shall accept for recording a duly executed and acknowledged general assignment,
conveyance, or other transfer from or to the corporation which identifies the transferor
and the transferee without requiring a separate document or instrument to be recorded
to evidence the transfer, conveyance, or assignment of each individual item of collateral
security or a reference to the book and page where each recorded instrument affected
by the transfer was recorded. The general assignment, conveyance, or transfer shall
be constructive notice to all persons of the assignment, conveyance, or transfer to
or from the corporation.