Section 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 137:14. PS 140:14. PL 216:18. RL 262:20.