New York Laws
UCC - Uniform Commercial Code

8-406 - Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate. - Wrongfully taken Security Certificate. If a security certificate has been...

8-407 - Authenticating Trustee, Transfer Agent, and Registrar. - A person acting as authenticating trustee, transfer agent, registrar, or...

A8P5 - Security Entitlements - PART 5 SECURITY ENTITLEMENTS

8-501 - Securities Account; Acquisition of Security Entitlement From Securities Intermediary. - (a) "Securities account" means an account to which a financial...

8-502 - Assertion of Adverse Claim Against Entitlement Holder. - An action based on an adverse claim to a financial...

8-503 - Property Interest of Entitlement Holder in Financial Asset Held by Securities Intermediary. - (a) To the extent necessary for a securities intermediary to...

8-504 - Duty of Securities Intermediary to Maintain Financial Asset. - (a) A securities intermediary shall promptly obtain and thereafter maintain...

8-505 - Duty of Securities Intermediary With Respect to Payments and Distributions. - (a) A securities intermediary shall take action to obtain a...

8-506 - Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder. - (1) the securities intermediary acts with respect to the duty...

8-507 - Duties of Securities Intermediary to Comply With Entitlement Order. - (a) A securities intermediary shall comply with an entitlement order...

8-508 - Duty of Securities Intermediary to Change Entitlement Holder's Position to Other Form of Security Holding. - Holder's Position to Other Form of Security Holding. A securities...

8-509 - Specification of Duties of Securities Intermediary by Other Statute or Regulation; Manner of Performance of Duties of Securities Intermediary and Exer - (a) If the substance of a duty imposed upon a...

8-510 - Rights of Purchaser of Security Entitlement From Entitlement Holder. - (a) In a case not covered by the priority rules...

8-511 - Priority Among Security Interests and Entitlement Holders. - (a) Except as otherwise provided in subsections (b) and (c),...

A8P6 - Transition Provisions for Revised Article 8 and for the Conforming Amendments to Articles 1, 5, 9 and 13. - PART 6 TRANSITION PROVISIONS FOR REVISED ARTICLE 8 AND FOR...

8-601 - Savings Clause; Effect on Prior Perfected Security Interest. - (a) As used in this Part, the term "this Act"...

8-602 - Cross-References to Former Article 8; Meaning or Interpretation. - (a) Any reference made in law to a bond or...

Article 9 - Secured Transactions

Part 1 - General Provisions

Sub Part 1 - Short Title, Definitions, and General Concepts

9-101 - Short Title - This article may be cited as Uniform Commercial Code--Secured Transactions.

9-102 - Definitions and Index of Definitions. - (a) Article 9 definitions. In this article: (1) "Accession" means...

9-103 - Purchase-Money Security Interest; Application of Payments; Burden of Establishing - (a) Definitions. In this section: (1) "purchase-money collateral" means goods...

9-104 - Control of Deposit Account. - (a) Requirements for control. A secured party has control of...

9-105 - Control of Electronic Chattel Paper - A secured party has control of electronic chattel paper if...

9-106 - Control of Investment Property - (a) Control under Section 8--106. A person has control of...

9-107 - Control of Letter-of-Credit Right - A secured party has control of a letter-of-credit right to...

9-108 - Sufficiency of Description - (a) Sufficiency of description. Except as otherwise provided in subsections...

Sub Part 2 - Applicability of Article

9-109 - Scope - (a) General scope of article. Except as otherwise provided in...

9-110 - Security Interests Arising Under Article 2 or 2-A - A security interest arising under Section 2--401, 2--505, 2--711(3), or...

Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement

Sub Part 1 - Effectiveness and Attachment

9-201 - General Effectiveness of Security Agreement. - (a) General effectiveness. Except as otherwise provided in this chapter,...

9-202 - Title to Collateral Immaterial. - Except as otherwise provided with respect to consignments or sales...

9-203 - Attachment and Enforceability of Security Interests; Proceeds; Supporting Obligations; Formal Requisites. - (a) Attachment. A security interest attaches to collateral when it...

9-204 - After-Acquired Property; Future Advances. - (a) After-acquired collateral. Except as otherwise provided in subsection (b),...

9-205 - Use or Disposition of Collateral Permissible. - (a) When security interest not invalid or fraudulent. A security...

9-206 - Security Interest Arising in Purchase or Delivery of Financial Asset. - (a) Security interest when person buys through securities intermediary. A...

Sub Part 2 - Rights and Duties

9-207 - Rights and Duties of Secured Party Having Possession or Control of Collateral. - (a) Duty of care when secured party in possession. Except...

9-208 - Additional Duties of Secured Party Having Control of Collateral. - (a) Applicability of section. This section applies to cases in...

9-209 - Duties of Secured Party if Account Debtor Has Been Notified of Assignment. - (a) Applicability of section. Except as otherwise provided in subsection...

9-210 - Request for Accounting; Request Regarding List of Collateral or Statement of Account. - (a) Definitions in this section: (1) "Request" means a record...

Part 3 - Perfection and Priority

Sub Part 1 - Law Governing Perfection and Priority

9-301 - Law Governing Perfection and Priority of Security Interests. - (a) Except as otherwise provided in this section, while a...

9-302 - Law Governing Perfection and Priority of Agricultural Liens. - Liens. While farm products are located in a jurisdiction, the...

9-303 - Law Governing Perfection and Priority of Security Interests in Goods Covered by a Certificate of Title. - (a) Applicability of section. This section applies to goods covered...

9-304 - Law Governing Perfection and Priority of Security Interests in Deposit Accounts. - (a) Law of bank's jurisdiction governs. The local law of...

9-305 - Law Governing Perfection and Priority of Security Interests in Investment Property. - (a) Governing law: general rules. Except as otherwise provided in...

9-306 - Law Governing Perfection and Priority of Security Interests in Letter-of-Credit Rights. - (a) Governing law: issuer's or nominated person's jurisdiction. Subject to...

9-307 - Location of Debtor. - (a) "Place of business." In this section, "place of business"...

Sub Part 2 - Perfection

9-308 - When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection. - (a) Perfection of security interest. Except as otherwise provided in...

9-309 - Security Interest Perfected Upon Attachment. - (1) a purchase-money security interest in consumer goods, except as...

9-310 - When Filing Required to Perfect Security Interest or Agricultural Lien; Security Interests and Agricultural Liens to Which Filing Provisions Do Not Ap - (a) General rule: perfection by filing. Except as otherwise provided...

9-311 - Perfection of Security Interests in Property Subject to Certain Statutes, Regulations, and Treaties. - (a) Security interest subject to other law. Except as otherwise...

9-312 - Perfection of Security Interests in Chattel Paper, Deposit Accounts, Documents, Goods Covered by Documents, Instruments, Investment Property, Letter-O - (a) Perfection by filing permitted. A security interest in chattel...

9-313 - When Possession by or Delivery to Secured Party Perfects Security Interest Without Filing. - (a) Perfection by possession or delivery. Except as otherwise provided...

9-314 - Perfection by Control. - (a) Perfection by control. A security interest in investment property,...

9-315 - Secured Party's Rights on Disposition of Collateral and in Proceeds. - (a) Disposition of collateral: continuation of security interest or agricultural...

9-316 - Effect of Change in Governing Law. - (a) General rule: effect on perfection of change in governing...

Sub Part 3 - Priority

9-317 - Interests That Take Priority Over or Take Free of Security Interest or Agricultural Lien. - (a) Conflicting security interests and rights of lien creditors. A...

9-318 - No Interest Retained in Right to Payment That Is Sold; Rights and Title of Seller of Account or Chattel Paper With Respect to Creditors and Purchasers - (a) Seller retains no interest. A debtor that has sold...

9-319 - Rights and Title of Consignee With Respect to Creditors and Purchasers. - (a) Consignee has consignor's rights. Except as otherwise provided in...

9-320 - Buyer of Goods. - (a) Buyer in ordinary course of business. Except as otherwise...

9-321 - Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business - (a) "Licensee in ordinary course of business." In this section,...

9-322 - Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral - (a) General priority rules. Except as otherwise provided in this...

9-323 - Future Advances - (a) When priority based on time of advance. Except as...

9-324 - Priority of Purchase-Money Security Interests - (a) General rule: purchase-money priority. Except as otherwise provided in...

9-325 - Priority of Security Interests in Transferred Collateral - (a) Subordination of security interest in transferred collateral. Except as...

9-326 - Priority of Security Interests Created by New Debtor - (a) Subordination of security interest created by new debtor. Subject...

9-327 - Priority of Security Interests in Deposit Account - (a) A security interest held by a secured party having...

9-328 - Priority of Security Interests in Investment Property - (a) A security interest held by a secured party having...

9-329 - Priority of Security Interests in Letter-of-Credit Right - (a) A security interest held by a secured party having...

9-330 - Priority of Purchaser of Chattel Paper or Instrument - (a) Purchaser's priority: security interest claimed merely as proceeds. A...

9-331 - Priority of Rights of Purchasers of Instruments, Documents, and Securities Under Other Articles; Priority of Interests in Financial Assets and Securit - (a) Rights under Articles 3, 7, and 8 not limited....

9-332 - Transfer of Money; Transfer of Funds From Deposit Account - (a) Transferee of money. A transferee of money takes the...

9-333 - Priority of Certain Liens Arising by Operation of Law - (a) "Possessory lien." In this section, "possessory lien" means an...

9-334 - Priority of Security Interests in Fixtures and Crops - (a) Security interest in fixtures under this article. A security...

9-335 - Accessions - (a) Creation of security interest in accession. A security interest...

9-336 - Commingled Goods - (a) "Commingled goods." In this section, "commingled goods" means goods...

9-337 - Priority of Security Interests in Goods Covered by Certificate of Title - (a) a buyer of the goods, other than a person...

9-338 - Priority of Security Interest or Agricultural Lien Perfected by Filed Financing Statement Providing Certain Incorrect Information - (1) the security interest or agricultural lien is subordinate to...

9-339 - Priority Subject to Subordination - This article does not preclude subordination by agreement by a...

Sub Part 4 - Rights of Bank

9-340 - Effectiveness of Right of Recoupment or Set-Off Against Deposit Account - (a) Exercise of recoupment or set-off. Except as otherwise provided...

9-341 - Bank's Rights and Duties With Respect to Deposit Account - Account. Except as otherwise provided in Section 9--340 (c), and...

9-342 - Bank's Right to Refuse to Enter Into or Disclose Existence of Control Agreement - Existence of Control Agreement. This article does not require a...

Part 4 - Rights of Third Parties

9-401 - Alienability of Debtor's Rights - (a) Other law governs alienability; exceptions. Except as otherwise provided...

9-402 - Secured Party Not Obligated on Contract of Debtor or in Tort - Tort. The existence of a security interest, agricultural lien, or...

9-403 - Agreement Not to Assert Defenses Against Assignee - (a) "Value." In this section, "value" has the meaning provided...

9-404 - Rights Acquired by Assignee; Claims and Defenses Against Assignee - (a) Assignee's rights subject to terms, claims, and defenses; exceptions....

9-405 - Modification of Assigned Contract - (a) Effect of modification on assignee. A modification of or...

9-406 - Discharge of Account Debtor; Notification of Assignment; Identification and Proof of Assignment; Restrictions on Assignment of Accounts, Chattel Paper - (a) Discharge of account debtor; effect of notification. Subject to...

9-407 - Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor's Residual Interest - (a) Term restricting assignment generally ineffective. Except as otherwise provided...

9-408 - Restrictions on Assignment of Promissory Notes, Health-Care-Insurance Receivables, and Certain General Intangibles Ineffective - (a) Term restricting assignment generally ineffective. Except as otherwise provided...

9-409 - Restrictions on Assignment of Letter-of-Credit Rights Ineffective - (a) Term or law restricting assignment generally ineffective. A term...

Part 5 - Filing

Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement

9-501 - Filing Office - (a) Filing offices. Except as otherwise provided in subsection (b),...

9-502 - Contents of Financing Statement; Record of Mortgage as Financing Statement; Time of Filing Financing Statement; Contents of Cooperative Addendum - (a) Sufficiency of financing statement. Subject to subsection (b), a...

9-503 - Name of Debtor and Secured Party. - (a) Sufficiency of debtor's name. A financing statement sufficiently provides...

9-504 - Indication of Collateral - (1) a description of the collateral pursuant to Section 9--108;...

9-505 - Filing and Compliance With Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions - (a) Use of terms other than "debtor" and "secured party."...

9-506 - Effect of Errors or Omissions - (a) Minor errors and omissions. A financing statement substantially satisfying...

9-507 - Effect of Certain Events on Effectiveness of Financing Statement - (a) Disposition. A filed financing statement remains effective with respect...

9-508 - Effectiveness of Financing Statement if New Debtor Becomes Bound by Security Agreement - (a) Financing statement naming original debtor. Except as otherwise provided...

9-509 - Persons Entitled to File a Record - (a) Person entitled to file record. A person may file...

9-510 - Effectiveness of Filed Record - (a) Filed record effective if authorized. A filed record is...

9-511 - Secured Party of Record - (a) Secured party of record. A secured party of record...

9-512 - Amendment of Financing Statement - (a) Amendment of information in financing statement. Subject to Section...

9-513 - Termination Statement - (a) Consumer goods. A secured party shall cause the secured...

9-514 - Assignment of Powers of Secured Party of Record - (a) Assignment reflected on initial financing statement. Except as otherwise...

9-515 - Duration and Effectiveness of Financing Statement; Effect of Lapsed Financing Statement - (a) Five-year effectiveness. Except as otherwise provided in subsections (b),...

9-516 - What Constitutes Filing; Effectiveness of Filing - (a) What constitutes filing. Except as otherwise provided in subsection...

9-517 - Effect of Indexing Errors - The failure of the filing office to index a record...

9-518 - Claim Concerning Inaccurate or Wrongfully Filed Record - (a) Correction statement. A person may file in the filing...

Sub Part 2 - Duties and Operation of Filing Office

9-519 - Numbering, Maintaining, and Indexing Records; Communicating Information Provided in Records - (a) Filing office duties. For each record filed in a...

9-520 - Acceptance and Refusal to Accept Record - (a) Mandatory refusal to accept record. A filing office shall...

9-521 - Uniform Form of Written Financing Statement; Amendment; and Cooperative Addendum - (a) Initial financing statement form. A filing office that accepts...

9-522 - Maintenance and Destruction of Records - (a) Post-lapse maintenance and retrieval of information. The filing office...

9-523 - Information From Filing Office; Sale or License of Records - (a) Acknowledgment of filing written record. If a person that...

9-524 - Delay by Filing Office - (a) the delay is caused by interruption of communication or...

9-525 - Fees - Fees for filing and services under this chapter shall be...

9-526 - Filing-Office Rules - (a) Adoption of filing-office rules. The secretary of state shall...

9-527 - Duty to Report - (a) the filing office rules are not in harmony with...

Part 6 - Default

Sub Part 1 - Default and Enforcement of Security Interest

9-601 - Rights After Default; Judicial Enforcement; Consignor or Buyer of Accounts, Chattel Paper, Payment Intangibles, or Promissory Notes - (a) Rights of secured party after default. After default, a...

9-602 - Waiver and Varience of Rights and Duties - (a) Section 9--207 (b) (4) (C), which deals with use...

9-603 - Agreement on Standards Concerning Rights and Duties - (a) Agreed standards. The parties may determine by agreement the...

9-604 - Procedure if Security Agreement Covers Real Property, Fixtures, or Cooperative Interests - (a) Enforcement: personal and real property. If a security agreement...

9-605 - Unknown Debtor or Secondary Obligor - (a) to a person that is a debtor or obligor,...

9-606 - Time of Default for Agricultural Lien - For purposes of this part, a default occurs in connection...

9-607 - Collection and Enforcement by Secured Party - (a) Collection and enforcement generally. If so agreed, and in...

9-608 - Application of Proceeds of Collection or Enforcement; Liability for Deficiency and Right to Surplus - (a) Application of proceeds, surplus, and deficiency if obligation secured....

9-609 - Secured Party's Right to Take Possession After Default - (a) Possession; rendering equipment unusable; disposition on debtor's premises. After...

9-610 - Disposition of Collateral After Default - (a) Disposition after default. After default, a secured party may...

9-611 - Notification Before Disposition of Collateral - (a) "Notification date." In this section, "notification date" means the...

9-612 - Timeliness of Notification Before Disposition of Collateral - (a) Reasonable time is question of fact. Except as otherwise...

9-613 - Contents and Form of Notification Before Disposition of Collateral: General - (a) The contents of a notification of disposition are sufficient...

9-614 - Contents and Form of Notification Before Disposition of Collateral: Consumer-Goods Transaction - (a) A notification of disposition must provide the following information:...

9-615 - Application of Proceeds of Disposition; Liability for Deficiency and Right to Surplus - (a) Application of proceeds. A secured party shall apply or...

9-616 - Explanation of Calculation of Surplus or Deficiency - (a) Definitions. In this section: (1) "Explanation" means a writing...

9-617 - Rights of Transferee of Collateral - (a) Effects of disposition. A secured party's disposition of collateral...

9-618 - Rights and Duties of Certain Secondary Obligors - (a) Rights and duties of secondary obligor. A secondary obligor...

9-619 - Transfer of Record or Legal Title - (a) "Transfer statement." In this section, "transfer statement" means a...

9-620 - Acceptance of Collateral in Full or Partial Satisfaction of Obligation; Compulsory Disposition of Collateral - (a) Conditions to acceptance in satisfaction. Except as otherwise provided...

9-621 - Notification of Proposal to Accept Collateral - (a) Persons to which proposal to be sent. A secured...

9-622 - Effect of Acceptance of Collateral - (a) Effect of acceptance. A secured party's acceptance of collateral...

9-623 - Right to Redeem Collateral - (a) Persons that may redeem. A debtor, any secondary obligor,...

9-624 - Waiver - (a) Waiver of disposition notification. A debtor or secondary obligor...

Sub Part 2 - Noncompliance With Article

9-625 - Remedies for Secured Party's Failure to Comply With Article - (a) Judicial orders concerning noncompliance. If it is established that...

9-626 - Action in Which Deficiency or Surplus Is in Issue - (a) Applicable rules if amount of deficiency or surplus is...

9-627 - Determination of Whether Conduct Was Comercially Reasonable - (a) Greater amount obtainable under other circumstances; no preclusion of...

9-628 - Nonliability and Limitation on Liability of Secured Party; Liability of Secondary Obligor - (a) Limitation of liability of secured party for noncompliance with...

Part 7 - Transition

9-700 - Definitions - The following words and terms when used in this part...

9-701 - Effective Date - Revised Article 9 takes effect on July 1, 2001.

9-702 - Savings Clause - (a) Pre-effective-date transactions or liens. Except as otherwise provided in...

9-703 - Security Interest Perfected Before Effective Date - (a) Continuing priority over lien creditor: perfection requirements satisfied. A...

9-704 - Security Interest Unperfected Before Effective Date - (a) remains an enforceable security interest for one year after...

9-705 - Effectiveness of Action Taken Before Effective Date - (a) Pre-effective-date action; one-year perfection period unless reperfected. If action,...

9-706 - When Initial Financing Statement Sufficies to Continue Effectiveness of Financing Statement - (a) Initial financing statement in lieu of continuation statement. The...

9-707 - Amendment of Pre-Effective-Date Financing Statement - (a) "Pre-effective-date financing statement". In this section, "pre-effective-date financing statement"...

9-708 - Persons Entitled to File Initial Financing Statement or Continuation Statement - (a) the secured party of record authorizes the filing; and...

9-709 - Priority - (a) Law governing priority. Revised Article 9 determines the priority...

9-710 - Transitional Provision for Maintaining and Searching Local-Filing Office Records - (a) In this Section: (1) "Local-filing office" means a filing...

Article 11 - Provisions for Transition From Original Article 9 to Revised Article 9

11-101 - Definitions. - (a) The term "Original Article 9" means Article 9 of...

11-102 - Preservation of Old Transition Provision. - The provisions of Article 10 of the uniform commercial code...

11-103 - Transition to Revised Article 9-General Rule. - Transactions validly entered into after September twenty-seventh, nineteen hundred sixty-four...

11-104 - Transition Provision on Change of Requirement of Filing. - Filing. A security interest for the perfection of which filing...

11-105 - Transition Provision on Change of Place of Filing. - (1) A financing statement or continuation statement filed prior to...

11-106 - Required Refilings. - (1) If a security interest is perfected or has priority...

11-107 - Transition Provisions as to Priorities. - Except as otherwise provided in this Article, Original Article 9...

11-108 - Presumption That Rule of Law Continues Unchanged. - Unless a change in law has clearly been made, the...

Article 13 - Effective Date and Repealer

13-101 - Application of Act. - This Act applies to transactions entered into and events occurring...

13-102 - Laws Repealed; Provision for Transition. - (1) Of the laws enumerated in the schedule hereto annexed...

13-103 - Inconsistent Laws; Which Law Governs. - If any other provision of law is inconsistent with this...

13-104 - Laws Not Repealed. - The Article on Documents of Title (Article 7) does not...

13-105 - Effective Date. - This Act shall take effect September twenty-seventh, nineteen hundred sixty-four.

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New York Laws UCC - Uniform Commercial Code

New York Laws
UCC - Uniform Commercial Code