17-4626.   Recordation of mortgages, effect thereof.Any mortgage, deed or trust or other instrument executed by acooperative doing business in this state pursuant to this act, whichaffects real and personal property and which is recorded in the realproperty records in any county in which such property is located or is tobe located, shall have the same force and effect as if the mortgage, deedof trust or other instrument were also recorded, filed or indexed asprovided by law in the proper office in such county as a mortgage ofpersonal property. All after-acquired property of such cooperativedescribed or referred to as being mortgaged or pledged in any suchmortgage, deed of trust or other instrument, shall become subject to thelien thereof immediately upon the acquisition of such property by suchcooperative, whether or not such property was in existence at the time ofthe execution of such mortgage, deed or trust or other instrument.

      Recordation of any such mortgage, deed of trust or other instrumentshall constitute notice and otherwise have the same effect with respect tosuch after-acquired property as it has under the laws relating torecordation, with respect to property owned by such cooperative at thetime of the execution of such mortgage, deed of trust or other instrumentand therein described or referred to as being mortgaged or pledged thereby.The lien upon personal property of any such mortgage, deed of trust orother instrument shall, after recordation thereof, continue in existenceand of record for the period of time specified therein without the refilingthereof or the filing of any renewal certificate, affidavit or othersupplemental information required by the laws relating to the renewal,maintenance or extension of liens upon personal property.

      History:   L. 1941, ch. 185, § 26; June 30.