1. Where the mortgaged item consists of registered instruments, the mortgage thereof shall be made in writing with a waiver of such instruments stating that they are made as a security. This shall be marked on the instrument itself and such waiver shall be recorded in the registers of the authority having issued the instrument. The rank of the mortgagee shall be determined as of the date of such registration. 2. As for promissory notes, the mortgage thereof shall be effected by an endorsement stating that the value is for mortgage, security or any other statement to that effect.
Interpretation and application must be checked against the official text and current version.