§ 3034 — Mortgages; filing

A mortgage, deed of trust, or other instrument executed by a cooperative or foreign corporation doing business in this State pursuant to this chapter, which affects real and personal property and which is recorded in the town in which such property is located or is to be located, shall have the same force and effect as if the mortgage, deed of trust, or other instrument were also recorded, filed, or indexed as provided by law in the proper office in such town as a mortgage of personal property. All after-acquired property of such cooperative or foreign corporation described or referred to as being mortgaged or pledged in such mortgage, deed of trust, or other instrument, shall become subject to the lien thereof immediately upon the acquisition of such property by such cooperative or foreign corporation, whether or not such property was in existence at the time of the execution of such mortgage, deed of trust, or other instrument. Recordation of the mortgage, deed of trust, or other instrument shall constitute notice and otherwise have the same effect with respect to the after-acquired property as it has under the laws relating to recordation, with respect to property owned by the cooperative or foreign corporation at the time of the execution of the mortgage, deed of trust, or other instrument and described or referred to as being mortgaged or pledged. (Amended 2023, No. 85 (Adj. Sess.), § 429, eff. July 1, 2024.)