(1)

1. (a) A person may record a master form in the office of the county recorder.
2. (b) A person who files a master form shall state in the caption required under Section 57-3-106 that the instrument is a master form.

(2) A master form is not required to:

1. (a) contain identification or description of any specific real property; or

2. (b) name a specific:

   1. (i) mortgagor;
   2. (ii) trustor; or
   3. (iii) trustee.

(3) A master form shall:

1. (a) name a specific mortgagee or beneficiary;
2. (b) contain an acknowledgment, proof, or certification; and
3. (c) identify the person causing the recording of the master form.

(4) A county recorder shall:

1. (a) index a master form in the same manner as the county recorder indexes mortgages and trust deeds in accordance with Section 17-21-6; and
2. (b) indicate on all indices and records of the county referencing the master form that the instrument is a master form.

(5)

1. (a) If a county recorder receives a document for recording that contains both a master form and a mortgage or trust deed, the county recorder:

   1. (i) is not required to:

      1. (A) separate the master form from the mortgage or trust deed; or
      2. (B) record the master form and the mortgage or trust deed as separate instruments; but
   2. (ii) may separate the master form from the mortgage or trust deed and record only the master form if the unrecorded portion is clearly designated or marked as a section not recorded.
2. (b) A master form recorded under Subsection (5)(a), is considered as a master form under this part for purposes of the incorporation by reference of a previously recorded master form.