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23-17-232. Recordation of mortgages — Effect thereof.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-17-232. Recordation of mortgages — Effect thereof.
(a) Any mortgage, deed of trust, or other instrument executed by a cooperative which affects real and personal property and which is recorded in the real property records in any county in which the 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 the county, as a mortgage of personal property.
(b)(1) All after-acquired property of the cooperative described or referred to as being mortgaged or pledged in any mortgage, deed of trust, or other instrument shall become subject to the lien thereof immediately upon the acquisition of the property by the cooperative, whether or not the property was in existence at the time of the execution of the mortgage, deed of trust, or other instrument.
(2) The recordation of such 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 at the time of the execution of the mortgage, deed of trust, or other instrument and therein described or referred to as being mortgaged or pledged thereby.
(c) The lien upon personal property of any mortgage, deed of trust, or other instrument after recordation thereof shall continue in existence and of record for the period of time specified therein without the refiling thereof, or the filing of any renewal certificate, affidavit, or other supplemental information required by the laws relating to the renewal, maintenance, or extension of liens upon personal property.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-17-232
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:23-17-232
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 51e6c825dad971d082db8134bd2f3c7a34e2ac11979c3b11ba097cb752c8e1a9
Source location: content.xml paragraph 12196
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23-17-232. Recordation of mortgages — Effect thereof.
(a) Any mortgage, deed of trust, or other instrument executed by a cooperative which affects real and personal property and which is recorded in the real property records in any county in which the 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 the county, as a mortgage of personal property.
(b)(1) All after-acquired property of the cooperative described or referred to as being mortgaged or pledged in any mortgage, deed of trust, or other instrument shall become subject to the lien thereof immediately upon the acquisition of the property by the cooperative, whether or not the property was in existence at the time of the execution of the mortgage, deed of trust, or other instrument.
(2) The recordation of such 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 at the time of the execution of the mortgage, deed of trust, or other instrument and therein described or referred to as being mortgaged or pledged thereby.
(c) The lien upon personal property of any mortgage, deed of trust, or other instrument after recordation thereof shall continue in existence and of record for the period of time specified therein without the refiling thereof, or the filing of any renewal certificate, affidavit, or other supplemental information required by the laws relating to the renewal, maintenance, or extension of liens upon personal property.
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