§ 42-116-36 - Recording certain transfer documents.
SECTION 42-116-36
§ 42-116-36 Recording certain transferdocuments. – If the corporation receives or makes an assignment, conveyance or othertransfer of commercial paper consisting of negotiable or non-negotiableinstruments or contracts that are secured by any mortgage, assignment of rents,profits, or income of real estate, security interests in fixtures or personalproperty or other instruments or documents that provide collateral security forthe commercial paper, the officer responsible for the recording of deeds orother instruments in the records of each city or town where the originalinstruments or documents that granted the collateral security were recordedshall accept for recording a duly executed and acknowledged general assignment,conveyance, or other transfer from or to the corporation which identifies thetransferor and the transferee without requiring a separate document orinstrument to be recorded to evidence the transfer, conveyance, or assignmentof each individual item of collateral security or a reference to the book andpage where each recorded instrument affected by the transfer was recorded. Thegeneral assignment, conveyance, or transfer shall be constructive notice to allpersons of the assignment, conveyance, or transfer to or from the corporation.