10-2135. Recording of mortgages; effect
A. Any mortgage, deed of trust or other instrument executed by a generation and
transmission cooperative doing business in this state pursuant to this article, which
affects real and personal property which is recorded in the office of the county recorder
in any county in which the property is located or is to be located, has the same force
and effect as if the mortgage, deed of trust or other instrument were also recorded,
filed or indexed as provided by statute in the office of the county recorder in the
county as a mortgage of personal property. All property of the generation and
transmission cooperative described or referred to as being mortgaged or pledged in the
mortgage, deed of trust or other instrument becomes subject to the lien immediately upon
acquisition of the property by the generation and transmission cooperative whether or not
the property was in existence at the time of execution of the mortgage, deed of trust or
other instrument. Recording of the mortgage, deed of trust or other instrument
constitutes notice and otherwise has the same effect with respect to after-acquired
property as it has under the statutes relating to recording with respect to property
owned by the generation and transmission cooperative at the time of execution of the
mortgage, deed of trust or other instrument and described or referred to as being
mortgaged or pledged.
B. The lien on personal property of the mortgage, deed of trust or other
instrument, after recording, continues in existence and of record for the period of time
specified without refiling or the filing of a renewal certificate, affidavit or other
supplemental information required by statute relating to renewal, maintenance or
extensions of liens upon personal property.
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