Rhode Island § 42-116-36 - Rhode Island Depositors Economic Protection Corporation

§ 42-116-36. Recording certain transfer documents.

If the corporation receives or makes an assignment, conveyance or other transfer of commercial paper consisting of negotiable or non-negotiable instruments or contracts that are secured by any mortgage, assignment of rents, profits, or income of real estate, security interests in fixtures or personal property or other instruments or documents that provide collateral security for the commercial paper, the officer responsible for the recording of deeds or other instruments in the records of each city or town where the original instruments or documents that granted the collateral security were recorded shall accept for recording a duly executed and acknowledged general assignment, conveyance, or other transfer from or to the corporation which identifies the transferor and the transferee without requiring a separate document or instrument to be recorded to evidence the transfer, conveyance, or assignment of each individual item of collateral security or a reference to the book and page where each recorded instrument affected by the transfer was recorded. The general assignment, conveyance, or transfer shall be constructive notice to all persons of the assignment, conveyance, or transfer to or from the corporation.