reglab/housing_qa huggingface dataset:
NY UCC § 8-407 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-407 - Authenticating Trustee, Transfer Agent, and Registrar.

Section 8--407. Authenticating Trustee, Transfer Agent, and Registrar.A  person acting as authenticating trustee, transfer agent, registrar,   or other agent for an issuer in the registration of a  transfer  of  its   securities,  in the issue of new security certificates or uncertificated   securities, or in the cancellation of surrendered security  certificates   has  the  same  obligation  to  the holder or owner of a certificated or   uncertificated  security  with  regard  to  the   particular   functions   performed as the issuer has in regard to those functions.
NY UCC § A8P5 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration A8P5 - Security Entitlements

                               PART 5SECURITY ENTITLEMENTS
NY UCC § 8-501 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-501 - Securities Account; Acquisition of Security Entitlement From Securities Intermediary.

Section 8--501. Securities  Account; Acquisition of Security Entitlement                   from Securities Intermediary.  (a) "Securities account" means an account to which a  financial  asset is  or  may  be credited in accordance with an agreement under which the person maintaining the account undertakes to treat the person  for  whom the  account  is  maintained  as  entitled  to  exercise the rights that comprise the financial asset.  (b) Except as otherwise provided in subsections (d) and (e), a  person acquires a security entitlement if a securities intermediary:       (1) indicates  by  book  entry  that  a  financial asset has been            credited to the person's securities account;       (2) receives a financial asset from  the  person  or  acquires  a            financial  asset  for the person and, in either case, accepts            it for credit to the person's securities account; or       (3) becomes obligated under other law,  regulation,  or  rule  to            credit a financial asset to the person's securities account.  (c) If  a  condition  of  subsection  (b) has been met, a person has a security entitlement even though the securities  intermediary  does  not itself hold the financial asset.  (d) If  a  securities intermediary holds a financial asset for another person, and the financial asset is registered in the name of, payable to the order of, or specially indorsed to the other  person,  and  has  not been  indorsed  to  the  securities  intermediary or in blank, the other person is treated as holding the financial asset directly rather than as having a security entitlement with respect to the financial asset.  (e) Issuance  of  a  security  is  not  establishment  of  a  security entitlement.
NY UCC § 8-502 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-502 - Assertion of Adverse Claim Against Entitlement Holder.

Section 8--502. Assertion of Adverse Claim against Entitlement Holder.An  action  based  on  an  adverse claim to a financial asset, whether   framed in conversion, replevin, constructive trust, equitable  lien,  or   other  theory,  may  not  be  asserted  against  a person who acquires a   security entitlement under Section 8--501 for value and  without  notice   of the adverse claim.
NY UCC § 8-504 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-504 - Duty of Securities Intermediary to Maintain Financial Asset.

Section 8--504. Duty  of  Securities  Intermediary to Maintain Financial                   Asset.  (a) A securities intermediary shall  promptly  obtain  and  thereafter maintain  a financial asset in a quantity corresponding to the aggregate of all  security  entitlements  it  has  established  in  favor  of  its entitlement holders with respect to that financial asset. The securities intermediary may maintain those financial assets directly or through one or more other securities intermediaries.  (b) Except to the extent otherwise agreed by its entitlement holder, a securities  intermediary  may  not  grant  any  security  interests in a financial asset it is obligated to maintain pursuant to subsection (a).  (c) A securities intermediary satisfies the duty in subsection (a) if:       (1) the securities intermediary acts with respect to the duty  as            agreed  upon  by  the  entitlement  holder and the securities            intermediary; or       (2) in the absence  of  agreement,  the  securities  intermediary            exercises  due  care in accordance with reasonable commercial            standards to obtain and maintain the financial asset.  (d) This section does not apply to  a  clearing  corporation  that  is itself  the  obligor  of  an  option  or similar obligation to which its entitlement holders have security entitlements.
NY UCC § 8-505 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-505 - Duty of Securities Intermediary With Respect to Payments and Distributions.

Section 8--505. Duty of Securities Intermediary with respect to Payments                   and Distributions.  (a) A securities intermediary shall take action to obtain a payment or distribution  made  by  the  issuer  of  a financial asset. A securities intermediary satisfies the duty if:       (1) the securities intermediary acts with respect to the duty  as            agreed  upon  by  the  entitlement  holder and the securities            intermediary; or       (2) in the absence  of  agreement,  the  securities  intermediary            exercises  due  care in accordance with reasonable commercial            standards to attempt to obtain the payment or distribution.  (b) A securities intermediary is obligated to its  entitlement  holder for a payment or distribution made by the issuer of a financial asset if the payment or distribution is received by the securities intermediary.
NY UCC § 8-506 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-506 - Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder.

Section 8--506. Duty  of  Securities  Intermediary to Exercise Rights as                   directed by Entitlement Holder.   A securities intermediary shall exercise  rights  with  respect  to  a financial  asset  if  directed  to  do  so  by  an entitlement holder. A securities intermediary satisfies the duty if:  (1) the securities intermediary acts  with  respect  to  the  duty  as agreed  upon  by the entitlement holder and the securities intermediary; or  (2) in the absence of agreement, the  securities  intermediary  either places  the  entitlement  holder  in  a  position to exercise the rights directly or exercises due care in accordance with reasonable  commercial standards to follow the direction of the entitlement holder.
NY UCC § 8-507 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-507 - Duties of Securities Intermediary to Comply With Entitlement Order.

Section 8--507. Duty   of   Securities   Intermediary   to  comply  with                   Entitlement Order.  (a) A securities intermediary shall comply with an  entitlement  order if  the  entitlement  order is originated by the appropriate person, the securities intermediary has had reasonable opportunity to assure  itself that the entitlement order is genuine and authorized, and the securities intermediary   has   had  reasonable  opportunity  to  comply  with  the entitlement order. A securities intermediary satisfies the duty if:       (1) the securities intermediary acts with respect to the duty  as            agreed  upon  by  the  entitlement  holder and the securities            intermediary; or       (2) in the absence  of  agreement,  the  securities  intermediary            exercises  due  care in accordance with reasonable commercial            standards to comply with the entitlement order.  (b) If a securities intermediary transfers a financial asset  pursuant to  an  ineffective entitlement order, the securities intermediary shall reestablish a security entitlement in favor of the  person  entitled  to it,  and pay or credit any payments or distributions that the person did not receive as a result of the  wrongful  transfer.  If  the  securities intermediary does not reestablish a security entitlement, the securities intermediary is liable to the entitlement holder for damages.
NY UCC § 8-508 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-508 - Duty of Securities Intermediary to Change Entitlement Holder's Position to Other Form of Security Holding.

Section 8--508. Duty  of  Securities  Intermediary to change EntitlementHolder's Position to Other Form of Security Holding.A securities intermediary shall act at the direction of an entitlement   holder to change a security entitlement into another available  form  of   holding  for  which  the entitlement holder is eligible, or to cause the   financial asset to  be  transferred  to  a  securities  account  of  the   entitlement  holder  with  another securities intermediary. A securities   intermediary satisfies the duty if:(1) the securities  intermediary  acts  as  agreed  upon  by  theentitlement holder and the securities intermediary; or(2) in  the  absence  of  agreement,  the securities intermediaryexercises due care in accordance with  reasonable  commercialstandards to follow the direction of the entitlement holder.
NY UCC § 8-509 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-509 - Specification of Duties of Securities Intermediary by Other Statute or Regulation; Manner of Performance of Duties of Securities Intermediary and Exer

Section 8--509. Specification  of  Duties  of Securities Intermediary by                   Other Statute or Regulation; Manner of Performance  of                   Duties  of  Securities  Intermediary  and  Exercise of                   Rights of Entitlement Holder.  (a) If the substance of a duty imposed upon a securities  intermediary by  Sections  8--504  through  8--508  is  the subject of other statute, regulation, or rule, compliance with that statute, regulation,  or  rule satisfies the duty.  (b) To  the  extent that specific standards for the performance of the duties of a securities intermediary or the exercise of the rights of  an entitlement  holder  are  not specified by other statute, regulation, or rule or by agreement between the securities intermediary and entitlement holder, the securities intermediary shall perform  its  duties  and  the entitlement   holder   shall  exercise  its  rights  in  a  commercially reasonable manner.  (c) The obligation of a securities intermediary to perform the  duties imposed by Sections 8--504 through 8--508 is subject to:       (1) rights  of  the  securities  intermediary  arising  out  of a            security  interest  under  a  security  agreement  with   the            entitlement holder or otherwise; and       (2) rights  of  the  securities  intermediary  under  other  law,            regulation, rule, or agreement to withhold performance of its            duties  as  a  result  of  unfulfilled  obligations  of   the            entitlement holder to the securities intermediary.  (d) Sections  8--504  through  8--508  do  not  require  a  securities intermediary to take any action that is  prohibited  by  other  statute, regulation, or rule.
NY UCC § 8-510 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-510 - Rights of Purchaser of Security Entitlement From Entitlement Holder.

Section 8--510. Rights   of   Purchaser  of  Security  Entitlement  from                   Entitlement Holder.  (a)  In a case not covered by the priority rules in Article 9  or  the rules stated in subsection (c), an action based on an adverse claim to a financial  asset  or security entitlement, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory,  may  not be asserted against a person who purchases a security entitlement, or an interest  therein,  from  an  entitlement  holder if the purchaser gives value, does not have notice of the adverse claim, and obtains control.  (b) If an adverse claim  could  not  have  been  asserted  against  an entitlement  holder  under  Section  8--502, the adverse claim cannot be asserted against a person who purchases a security  entitlement,  or  an interest therein, from the entitlement holder.  (c)  In  a  case  not  covered  by  the priority rules in Article 9, a purchaser for value of a security entitlement, or an  interest  therein, who  obtains  control  has  priority  over  a  purchaser  of  a security entitlement, or an interest therein, who does not obtain control. Except as otherwise provided in subsection (d),  purchasers  who  have  control rank according to priority in time of:       (1) the  purchaser's  becoming the person for whom the securities            account, in which the security  entitlement  is  carried,  is            maintained,  if  the purchaser obtained control under Section            8--106(d)(1);       (2) the securities intermediary's agreement to  comply  with  the            purchaser's  entitlement  orders  with  respect  to  security            entitlements carried or  to  be  carried  in  the  securities            account  in which the security entitlement is carried, if the            purchaser obtained control under Section 8--106(d)(2); or       (3) if the purchaser  obtained  control  through  another  person            under  Section 8--106(d)(3), the time on which priority would            be based under this subsection if the other person  were  the            secured party.  (d)  A  securities  intermediary  as  purchaser  has  priority  over a conflicting purchaser who has control unless  otherwise  agreed  by  the securities intermediary.
NY UCC § 8-511 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-511 - Priority Among Security Interests and Entitlement Holders.

Section 8--511. Priority   Among   Security  Interests  and  Entitlement                   Holders.  (a) Except as otherwise provided in subsections  (b)  and  (c),  if  a securities   intermediary  does  not  have  sufficient  interests  in  a particular  financial  asset  to  satisfy  both   its   obligations   to entitlement  holders  who  have  security entitlements to that financial asset and its obligation to a creditor of  the  securities  intermediary who  has  a  security  interest  in  that financial asset, the claims of entitlement holders, other than the creditor,  have  priority  over  the claim of the creditor.  (b) A  claim  of  a  creditor  of  a securities intermediary who has a security interest in a financial asset held by a securities intermediary has priority over claims of the  securities  intermediary's  entitlement holders  who  have  security entitlements with respect to that financial asset if the creditor has control over the financial asset.  (c) If a clearing  corporation  does  not  have  sufficient  financial assets  to  satisfy both its obligations to entitlement holders who have security  entitlements  with  respect  to  a  financial  asset  and  its obligation  to a creditor of the clearing corporation who has a security interest in that financial asset, the claim of the creditor has priority over the claims of entitlement holders.
NY UCC § A8P6 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration A8P6 - Transition Provisions for Revised Article 8 and for the Conforming Amendments to Articles 1, 5, 9 and 13.

                               PART 6TRANSITION PROVISIONS FOR REVISED ARTICLE 8AND FOR THE CONFORMING AMENDMENTS TO ARTICLES 1, 5, 9 and 13
NY UCC § 8-601 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-601 - Savings Clause; Effect on Prior Perfected Security Interest.

Section 8--601. Savings  Clause;  Effect  on  Prior  Perfected  Security                   Interest.  (a) As used in this Part, the term "this Act" means  that  chapter  of the  laws  of  1997  which repealed former Article 8 of this code, added this article to this code, and made conforming amendments to  provisions of other articles of this code.  (b) This  Act does not affect an action or proceeding commenced before this Act takes effect. An oral contract or a  modification  of  contract entered  into  before  the  date  this  Act takes effect does not become enforceable by reason of operation of Section 8--113.  (c) If a security interest in a security is perfected at the date this Act takes effect, and the action by  which  the  security  interest  was perfected  would  suffice to perfect a security interest under this Act, no further action is required to  continue  perfection.  If  a  security interest  in  a  security is perfected at the date this Act takes effect but the action by which the security interest was  perfected  would  not suffice  to  perfect  a  security  interest under this Act, the security interest remains perfected for a period of 12 months after the effective date of this Act  and  continues  perfected  thereafter  if  appropriate action  to  perfect  under  this  Act  is taken within that period. If a security interest is perfected at the date this Act takes effect and the security interest can be perfected by filing under this Act, a financing statement signed by the secured party instead of by the  debtor  may  be filed  within  that  period  to  continue  perfection  or  thereafter to perfect.
NY UCC § 8-602 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 8 - Investment Securities Part 4 - Registration 8-602 - Cross-References to Former Article 8; Meaning or Interpretation.

Section 8--602. Cross-References   to   former  Article  8;  Meaning  or                   Interpretation.  (a) Any reference  made  in  law  to  a  bond  or  other  security  or instrument  to  be  issued  hereafter under the authority of such law as being a negotiable instrument or security under former Article 8 of this code shall be deemed to mean and refer to such bond or other security or instrument issued on or after the effective date of this  Act  as  being one to be governed by the provisions of this new Article 8.  (b) The  provisions of subsection (a) shall not be deemed to impair in any manner the obligations of any bond or other security  or  instrument previously issued and in existence on the effective date of this Act and the  same shall continue to be governed by its covenants. The provisions of this Act shall apply to such previously issued and existing  bond  or other  security  or instrument only to the extent that the provisions of this Act can be harmonized with the provisions of covenants existing  on the  effective  date of this Act to which such bond or other security or instrument is subject on such date, without impairing its obligations.
NY UCC § 9-401 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 9 - Secured Transactions Part 4 - Rights of Third Parties 9-401 - Alienability of Debtor's Rights

Section 9--401. Alienability of Debtor's Rights.  (a) Other  law  governs  alienability; exceptions. Except as otherwise provided in subsection (b) and  Sections  9--406,  9--407,  9--408,  and 9--409,  whether  a  debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article.  (b) Agreement does not prevent  transfer.  An  agreement  between  the debtor  and  secured  party  which  prohibits a transfer of the debtor's rights in collateral or makes the transfer a default  does  not  prevent the transfer from taking effect.
NY UCC § 9-402 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 9 - Secured Transactions Part 4 - Rights of Third Parties 9-402 - Secured Party Not Obligated on Contract of Debtor or in Tort

Section  9--402. Secured Party Not Obligated on Contract of Debtor or inTort.The existence of a security interest, agricultural lien, or  authority   given  to  a  debtor to dispose of or use collateral, without more, does   not subject a secured party to liability in contract  or  tort  for  the   debtor's acts or omissions.
NY UCC § 9-404 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 9 - Secured Transactions Part 4 - Rights of Third Parties 9-404 - Rights Acquired by Assignee; Claims and Defenses Against Assignee

Section 9--404. Rights Acquired by Assignee; Claims and Defenses Against                   Assignee.  (a) Assignee's   rights   subject  to  terms,  claims,  and  defenses; exceptions. Unless an account debtor has made an  enforceable  agreement not to assert defenses or claims, and subject to subsections (b) through (e), the rights of an assignee are subject to:       (1) all  terms  of  the  agreement between the account debtor and            assignor and any defense or claim in recoupment arising  from            the transaction that gave rise to the contract; and       (2) any  other defense or claim of the account debtor against the            assignor which accrues before the account debtor  receives  a            notification  of the assignment authenticated by the assignor            or the assignee.  (b) Account debtor's claim reduces amount owed to assignee. Subject to subsection (c) and except as otherwise provided in subsection  (d),  the claim  of  an account debtor against an assignor may be asserted against an assignee under subsection (a) only to reduce the amount  the  account debtor owes.  (c) Rule  for  individual  under other law. This section is subject to law other than this article which establishes a different  rule  for  an account  debtor  who  is  an  individual and who incurred the obligation primarily for personal, family, or household purposes.  (d) Omission of required  statement  in  consumer  transaction.  In  a consumer  transaction,  if  a  record  evidences  the  account  debtor's obligation, law other than this article requires that the record include a statement to the effect that the account debtor's recovery against  an assignee  with  respect  to claims and defenses against the assignor may not exceed amounts paid by the account debtor under the record, and  the record does not include such a statement, the extent to which a claim of an  account  debtor  against  the  assignor  may  be asserted against an assignee is determined as if the record included such a statement.  (e) Inapplicability to health-care-insurance receivable. This  section does not apply to an assignment of a health-care-insurance receivable.