Recording under AS 10.15.230 - 10.15.260 operates as a constructive notice to all persons of the existence and contents of the contract. Any right, title, interest, or lien created as to the products covered by the contract subsequent to the recording is subject to the cooperative's right, title, or interest under the contract. If the member creates a mortgage upon any products subsequent to the recording of the contract, and if the member and the mortgagee jointly notify the cooperative in writing of the existence and amount of the mortgage, all payments from the cooperative to the member which become due after the notice by reason of the cooperative's sale or other handling of the products shall be paid to the mortgagee until the amount of the mortgage has been paid, and the balance thereafter shall be paid to the member.
Section: Previous 10.15.215 10.15.220 10.15.225 10.15.230 10.15.235 10.15.240 10.15.245 10.15.250 10.15.255 10.15.260 10.15.265 10.15.270 10.15.275 10.15.280 10.15.285 NextLast modified: November 15, 2016