Brands and marks subject to transfer; recording of instruments transferring ownership; notice to Department of existence of security agreement, assignment or lien.
Any brand or brand and mark or marks awarded and recorded and remaining of record in accordance with the terms of this chapter, including those transferred legally as provided in this section, are the property of the person to whom they stand of record as provided in this chapter and are subject to sale, assignment, transfer, security agreement or lien, devise and descent the same as other personal property.
Instruments of writing evidencing the sale, assignment, transfer, security agreement, lien, devise or descent must be in that form, as to text, signatures, witnesses, acknowledgments or certifications, required by statutes, in the case of the kind of instrument concerned, but the Department may secure such competent legal advice or rulings, and require such supporting evidence as it deems necessary, as to such instruments of writing, being in fact, authentic and in legal form, before approving and recording those instruments of writing as provided in this chapter.
Instruments in writing evidencing the transfer of ownership of any brand or brand and mark or marks must, after approval, be recorded in the office of the Department in a book to be provided for that purpose, and are not legally binding until so approved by the Department and recorded. In addition to any other format, the Department shall prepare and maintain the book required by this subsection in an electronic format. The Department may include, in any fee collected by the Department for the recording of the instruments pursuant to NRS 564.080, any costs incurred by the Department in preparing and maintaining the book in an electronic format pursuant to this subsection.
The recording of those instruments has the same force and effect as to third parties as the recording of instruments affecting the sale, assignment, transfer, devise or descent of other personal property. The original, or a certified copy of any such instrument, may be introduced in evidence in the same manner as is provided for similar instruments affecting personal property, and the record of the instrument or instruments of transfer, or the transcript thereof certified by the custodian of the record, may be read in evidence without further proof.
If any brand or brand and mark or marks of record, in accordance with the provisions of this chapter, becomes the subject of, or is included in, any security agreement, provisional assignment or legal lien, the secured party, provisional assignee or lienholder may notify the Department in writing as to the existence and conditions of the security agreement, provisional assignment or lien. After the receipt of the written notice, the Department shall not transfer the brand or brand and mark or marks, other than to the secured party, provisional assignee or lienholder until there is filed with the Department satisfactory legal evidence that the security agreement, provisional assignment or lien has been legally satisfied and removed.
No transfer or change, or partial, joint or complete ownership, of any brand under the provisions of this section:
Grants or recognizes any change in the method or area of its use from that authorized at the time of recording, or subsequent thereto but before the transfer or change of ownership; or
Waives or modifies the rerecording requirements set forth in NRS 564.120.