Section 44-14-238. Foreclosure when debts due in installments; treatment of surplus

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If a mortgage on personalty is given to secure several debts falling due at different times, the mortgagee may foreclose when the first debt becomes due; and the court will control the surplus so as to protect the lien created for the debts not due.

Orig. Code 1863, § 1967; Code 1868, § 1955; Code 1873, § 1965; Code 1882, § 1965; Civil Code 1895, § 2739; Civil Code 1910, § 3272; Code 1933, § 67-1001.

                    
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