NY UCC § 9-305 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 9 - Secured Transactions Part 3 - Perfection and Priority Sub Part 1 - Law Governing Perfection and Priority 9-305 - Law Governing Perfection and Priority of Security Interests in Investment Property.

Section 9--305. Law   Governing  Perfection  and  Priority  of  Security                   Interests in Investment Property.  (a) Governing law: general rules.  Except  as  otherwise  provided  in subsections (c) and (d), the following rules apply:       (1) While  a  security  certificate is located in a jurisdiction,            the local law of that jurisdiction  governs  perfection,  the            effect  of perfection or nonperfection, and the priority of a            security interest in the  certificated  security  represented            thereby.       (2) The  local  law  of the issuer's jurisdiction as specified in            Section  8--110(d)  governs   perfection,   the   effect   of            perfection  or  nonperfection, and the priority of a security            interest in an uncertificated security.       (3) The local law of the securities  intermediary's  jurisdiction            as  specified  in  Section  8--110(e) governs perfection, the            effect of perfection or nonperfection, and the priority of  a            security  interest  in  a  security entitlement or securities            account.       (4) The local law of the  commodity  intermediary's  jurisdiction            governs    perfection,    the   effect   of   perfection   or            nonperfection, and the priority of a security interest  in  a            commodity contract or commodity account.  (b) Commodity   intermediary's   jurisdiction.   The  following  rules determine a commodity intermediary's jurisdiction for purposes  of  this part:       (1) If  an  agreement  between  the  commodity  intermediary  and            commodity customer governing the commodity account  expressly            provides  that  a  particular  jurisdiction  is the commodity            intermediary's jurisdiction for purposes of this  part,  this            article,  or this chapter, that jurisdiction is the commodity            intermediary's jurisdiction.       (2) If paragraph (1) does not apply and an agreement between  the            commodity  intermediary  and commodity customer governing the            commodity account expressly provides that  the  agreement  is            governed  by  the  law  of  a  particular  jurisdiction, that            jurisdiction is the commodity intermediary's jurisdiction.       (3) If neither paragraph (1) nor paragraph  (2)  applies  and  an            agreement  between  the  commodity intermediary and commodity            customer governing the commodity account  expressly  provides            that  the  commodity  account is maintained at an office in a            particular jurisdiction, that jurisdiction is  the  commodity            intermediary's jurisdiction.       (4) If  none  of  the  preceding  paragraphs apply, the commodity            intermediary's jurisdiction is the jurisdiction in which  the            office  identified  in  an  account  statement  as the office            serving the commodity customer's account is located.       (5) If none of the  preceding  paragraphs  apply,  the  commodity            intermediary's  jurisdiction is the jurisdiction in which the            chief executive  office  of  the  commodity  intermediary  is            located.  (c) When  perfection  governed  by  law  of  jurisdiction where debtor located. The local law of  the  jurisdiction  in  which  the  debtor  is located governs:       (1) perfection  of  a security interest in investment property by            filing;       (2) automatic perfection of a  security  interest  in  investment            property created by a broker or securities intermediary; and       (3) automatic  perfection  of  a security interest in a commodity            contract  or  commodity  account  created  by   a   commodity            intermediary.  (d) Cooperative interests. Subsections (a) through (c) do not apply to cooperative interests.