Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1893-06-29
CHAPTER 1.1o0.
Passed Veh A. 1904 !

Il
PASSED Feb. ~, l6o0A
AN ACT Relating TO certain Contracts for the
Conditional Sale, Lease, or Hire of Railroad
and Street Railway Equipment and Rolling
Stock, and providing for the recording there
of.
II is enacted BY the General Assembly ~ fol-
lows
nsoTIos ]. IN any contract for tho sale Of
railroad or street railway equipment or rolling
stock, II shall be lawful TO agree that the utlp
70 the property sold, or contracted 70 be sold,
although possession thereof may be delivered
Immediately or at any time or times subse-
quently, shall not vest In the purchaser until
the purchase price shall b fully paid, or that
the seller shall have and retain . lien thereon
for the unpaid purchase-money. And In any
contract for the leasing or hiring Of such prop
erty, IL shall be lawful to stipulate for condi-
tional sale thereof At the termination Of such
contract, and that the rentals OF amounts 70 b
received under such contract may, ~ paid, be
applied and treated as purohase-money, and
that the title to the property shall not vest In
the lessee or bailoe until the purchaso-pric
shall have been paid In full, and until tho terms
of the contract shall nave been fully per-
formed, notwithstanding delivery p and pos
40 such contract shall be ysltd ss against any
subsequent Judgment creditor, or ATTY subse-
Quent bona fide purchaser for value and with
out notice, unless:
I. The same shall be evidenced BY an instru-
ment executed by the parties and duly 40
knowledsed by the vendee or lessee or bailee,
IS the case may be, or duly proved, before some
person au,horized by law 10 take scknowledg-
ment OF deeds, and IN the same manner as
deeds are Acknowledged or provedi
II. Such instrument shall be fled for record
In the Office Of the Secretary of State;
III. Each locomotive engine or car 80 sold.
leased or hired, or contracted to be sold, leased
arh afo oh hou h. -
the vendor, lessor, or bailor plainly marked ON
the side thereof, followed by the word .owners'
or scissor" OF "bailor" a. the case may be.
eEo.2. The contracts herein authorized shall
be recorded by the Secretary OF state In . book
Of records TO be kept for that purpose. And on
payment In full Of the purchase money, and
the performance of the terms and conditions
stipulated in any such contract, q declaration
IN writing TO that effect may be made by tho
vendor, lessor, or bailor or his or its assignee,
which declaration may be made on the margin
Of the record Of the contract, duly attested, or
II may be made by . separate Instrument 70
be acknowledged by the vendor. lessor, or bail
or, his or its assignee, and recorded as afore-
said. And for such services the Secretary Of
State shall be entitled to demand and retain
for the use of the State the sum of fifteen Q0
cents for each one hundred Q0O words record
I'd, for recording each of said contracts and
each Of said declarations, and fee Of ffty 90
cents for noting such declarations on the mar
gin of the record.
SEC. q This act shall not be held to invali-
date or affect In any way any contract hereto
fore made Of the kind referred to In the first
section hereof, and any such contract hereto
fore made may. upon compliance with the pro-
visions of this act, be recorded as herein pro-
vided.
SEQ. L This act shall take effect from and