Section 2

This Act shall apply to every bill of sale, whether the same is absolute or subject or not subject to any trust, whereby the holder or grantee has power, either with or without notice and immediately or at any future time, to seize or take possession of any personal chattels comprised in or made subject to such bill of sale, but shall not, except as in this Act expressly mentioned, apply to any mortgages, charges or debentures issued by any incorporated company and secured upon the stock or goods, chattels and effects of such company.