The lien of the Mutual Assurance Society against Fire on buildings in the Commonwealth of Virginia upon property insured therein for quotas assessed against the policies of such property owners shall not be valid against purchasers of such property for valuable consideration without notice of the existence of such insurance, except from the time the Society shall have complied with the provisions of this section. The Society shall have prepared and kept in the clerk’s office of the Circuit Court of the City of Richmond, and of the circuit court of each county and the circuit court of each city in which the Society insures property, a book to be called the “Mutual Assurance Society’s Lien Book.” Such book when left with the clerk shall become a public record and shall be kept open to the inspection of the public. The Society shall have entered in such book a brief description of the property insured by it upon which it claims a lien, the date and amount of the policy and the name of the parties to whom the policy was issued, and the date of the entry shall be made in such book.