The Russellville Democrat., 1877-02-15
AN ACT
Regulating Mortgages on Per-
 sOnal Property.

SemDly 01 tue State O1 AfkanSaS:
 Section 1. That every mortgage, or conveyance intelde to operate as mortgage of personal proper ty which shall not be accompa- nied by an immediate delivery, and be followed by an actual and continued change of possession of things mortgaged, shall be ab solutey void as against the cred itors of the mortgager, and as against subsequent purchasers and mortgagers in good faith, unless the mortgage, or a copy thereof, shall be forthwith depos- ited in the office of the recorder of deeds, in the county where the property shall then be situated, or, if the mortgrger be resident of this State, then of the county of which he shall at the time be resident.
 See. ?. That upon the receipt of any such instrument the record CT shall indorse on the back there of tie time of receiving it, and shall file the same in his office, to be kept there for the inspection of all persons interested, and said instrument shall be thenceforth notice to all the world of the con tents thereof without further rec ord, except as herein provided.
 Sec. 3. That every mortgage so filed shall be void as against the creditors of the person making the same, or against subsequent purchasers or mortgagers Tn good faith, after the expiration of one year after the filing thereof, unless, within thirty days next preceding the expiration of one year from such filing, and each year there after, the mortgagce, his agent or attorney. shall make an affidavit exhibiting tAe interest of the mortgagee at the time last afore- said, claimed by virtue of such mortgage is to secure the pay ment of money, the amount yet due and unpaid. Such affidavit shall be attached to and filed with the instrument or copy on file to which it relates.
 Sec. I. That copy of any such original instrument, or any copy thereof, so filed as aforesaid, in cluding any afliaayit made Tn pur. suance of this act, certified by the recorder in whose office the same shallhave been filed, shall bereceiv. ed Tn evidence, but only oe the fact that such instrument or copy and and such affidavit was received and filed according to the indorse- ment of the recorder thereon and of no other fact.
 Sec. ,. That the Recorder of Deeds shall keep book, in which shall be entered . minute of mort gages and trust deeds of personal property and afiidavits filed under this act; sad book shall be ruled into separate columns, with heads as follows: "Time of Reception" "Name of Mortgager," "Name of | Mortgagee," ;" Date of Instru- ment,' Amount Secured" "When Due" 'Property Mortgaged," and Remarks" Under the head of "Property Mortgaged," it shall be sufficient to enter 2 general de- scription of the property, and the particular place where located. The date of filing an affidavit, and the amount sworn to be due and unpaid, shall be entered under the head of "Remarks." An in dex shall be kept in the manner as required for other records.
 Sec. 6. That in the absence of stipulations to the contrary, the mortgagee of personal property shall have the legal title thereto, and the right of possession.
 Lee. 7.s That when any mort gage or trust deed of personal property shall have been fully paid of or satisfied, it shall be the duty of the mortgaoee or ben ehciary, his assignee or personal representative, Co eater satisfac- ton or cause satisfaction thereof to be entered of record, under the head of Remarks" under the same penalty for neglect or refus- al as provided in case of the satis faction of mortgages of real es tate.
 Sec. 8. That Recorders of Deeds shall be entitled to receive the following fees for services under the provisions of this act