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Section 360:21 – Consent to Sell.

    360:21 Consent to Sell. – A personal property mortgage may provide that the mortgagor with the permission of the mortgagee may sell or exchange any of the mortgaged property in accordance with the provisions of the mortgage without notice to or consent of any subsequent mortgagee or lienor of the mortgaged property, if the […]

Section 360:22 – Subsequent Mortgage.

    360:22 Subsequent Mortgage. – No mortgagor shall execute a second or subsequent mortgage of personal property while the same is subject to a previously existing mortgage given by him, unless the fact of the existence of the previous mortgage is set forth in the subsequent mortgage. Source. RS 132:9. CS 138:12. GS 123:14. GL […]

Section 360:24 – Concealing Property.

    360:24 Concealing Property. – Any person who removes or conceals any mortgaged personal property with the intent of placing it beyond the control of the mortgagee, or who aids in so doing, and any mortgagor of such property who assents to such removal or concealment shall be guilty of a misdemeanor if a natural […]