reglab/statecodes huggingface dataset:
2023 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.
2023 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 in
Tort.
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.
2023 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.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 4 - Rights of Third Parties › 9-405 - Modification of Assigned Contract

Section 9--405. Modification of Assigned Contract.
(a) Effect   of   modification  on  assignee.  A  modification  of  or
substitution for an assigned contract is effective against  an  assignee
if  made in good faith. The assignee acquires corresponding rights under
the modified or substituted contract. The assignment  may  provide  that
the  modification  or  substitution  is  a  breach  of  contract  by the
assignor. This subsection is subject to subsections (b) through (d).
(b) Applicability of subsection (a). Subsection  (a)  applies  to  the
extent that:
(1) the  right  to  payment  or  a part thereof under an assigned
contract has not been fully earned by performance; or
(2) the right to payment or a part thereof has been fully  earned
by  performance  and  the  account  debtor  has  not received
notification of the assignment under Section 9--406(a).
(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) Inapplicability  to health-care-insurance receivable. This section
does not apply to an assignment of a health-care-insurance receivable.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 4 - Rights of Third Parties › 9-407 - Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor's Residual Interest

Section 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  in  subsection  (b), a term in a lease agreement is
ineffective to the extent that it:
(1) prohibits, restricts, or requires the consent of a  party  to
the  lease to the assignment or transfer of, or the creation,
attachment, perfection, or enforcement of a security interest
in, an interest of a party under the lease contract or in the
lessor's residual interest in the goods; or
(2) provides that the assignment or  transfer  or  the  creation,
attachment,   perfection,  or  enforcement  of  the  security
interest may  give  rise  to  a  default,  breach,  right  of
recoupment,    claim,    defense,   termination,   right   of
termination, or remedy under the lease.
(b) Effectiveness of certain terms. Except as  otherwise  provided  in
Section  2-A-303(7),  a term described in subsection (a)(2) is effective
to the extent that there is:
(1) a transfer by the lessee of the lessee's right of  possession
or use of the goods in violation of the term; or
(2) a delegation of a material performance of either party to the
lease contract in violation of the term.
(c) Security   interest   not   material   impairment.  The  creation,
attachment, perfection, or enforcement of a  security  interest  in  the
lessor's  interest  under  the  lease  contract or the lessor's residual
interest in the goods is not a  transfer  that  materially  impairs  the
lessee's  prospect of obtaining return performance or materially changes
the duty of or materially increases the burden or risk  imposed  on  the
lessee within the purview of Section 2-A-303(4) unless, and then only to
the  extent  that,  enforcement  actually  results  in  a  delegation of
material performance of the lessor.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 4 - Rights of Third Parties › 9-409 - Restrictions on Assignment of Letter-of-Credit Rights Ineffective

Section 9--409. Restrictions  on  Assignment  of Letter-of-credit Rights
Ineffective.
(a) Term or law restricting assignment generally ineffective.  A  term
in  a letter-of-credit or a rule of law, statute, regulation, custom, or
practice applicable to the letter of credit which prohibits,  restricts,
or  requires the consent of an applicant, issuer, or nominated person to
a beneficiary's assignment of or creation of a security  interest  in  a
letter-of-credit  right  is  ineffective  to the extent that the term or
rule of law, statute, regulation, custom, or practice:
(1) would impair the creation, attachment,  or  perfection  of  a
security interest in the letter-of-credit right; or
(2) provides  that the assignment or the creation, attachment, or
perfection of the  security  interest  may  give  rise  to  a
default,   breach,   right  of  recoupment,  claim,  defense,
termination,  right  of  termination,  or  remedy  under  the
letter-of-credit right.
(b) Limitation  on ineffectiveness under subsection (a). To the extent
that a term in a letter-of-credit is ineffective  under  subsection  (a)
but  would be effective under law other than this article or a custom or
practice applicable to the letter-of-credit, to the transfer of a  right
to  draw  or otherwise demand performance under the letter-of-credit, or
to the assignment of a right to proceeds of  the  letter-of-credit,  the
creation,  attachment,  or  perfection  of  a  security  interest in the
letter-of-credit right:
(1) is not enforceable against the applicant,  issuer,  nominated
person, or transferee beneficiary;
(2) imposes  no  duties  or obligations on the applicant, issuer,
nominated person, or transferee beneficiary; and
(3) does not require the applicant, issuer, nominated person,  or
transferee  beneficiary  to  recognize the security interest,
pay or render performance to the  secured  party,  or  accept
payment or other performance from the secured party.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-501 - Filing Office

Section 9--501. Filing Office.
(a) Filing offices. Except as otherwise provided in subsection (b), if
the  law  of  this  state  governs  perfection of a security interest or
agricultural lien, the office in which to file a financing statement  to
perfect the security interest or agricultural lien is:
(1) the office designated for the filing or recording of a record
of a mortgage on the related real property, if:
(A) the collateral is as-extracted collateral or timber to be
cut; or
(B) the  financing statement is filed as a fixture filing and
the collateral  is  goods  that  are  or  are  to  become
fixtures; or
(C) the collateral is a cooperative interest; or
(2) the  office  of  the  secretary of state, in all other cases,
including a case in which the collateral is goods that are or
are to become fixtures and the  financing  statement  is  not
filed as a fixture filing.
(b) Filing  office  for transmitting utilities. The office in which to
file a financing statement to perfect a security interest in collateral,
including fixtures, of a transmitting  utility  is  the  office  of  the
secretary  of  state. The financing statement also constitutes a fixture
filing as to the collateral indicated in the financing  statement  which
is or is to become fixtures.
(c) The  term "filing officer" or "recording officer" means the county
clerk of the county, except in the counties of Bronx, Kings,  New  York,
and  Queens where it means the city register in the county; and the term
"filing officer" includes the secretary of state where a filing is  made
in the department of state.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-504 - Indication of Collateral

Section 9--504. Indication of Collateral.
A  financing  statement  sufficiently indicates the collateral that it
covers if the financing statement provides:
(1) a description of the collateral pursuant to Section 9--108; or
(2) an indication that the financing statement covers  all  assets  or
all personal property.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-505 - Filing and Compliance With Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions

Section 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." A consignor,
lessor,  or  other  bailor of goods, a licensor, or a buyer of a payment
intangible or promissory note may file a  financing  statement,  or  may
comply  with  a  statute or treaty described in Section 9--311(a), using
the  terms  "consignor",  "consignee",  "lessor",  "lessee",   "bailor",
"bailee",  "licensor", "licensee", "owner", "registered owner", "buyer",
"seller", or words of similar import,  instead  of  the  terms  "secured
party" and "debtor".
(b) Effect  of  financing  statement  under  subsection (a). This part
applies to the filing of a financing statement under subsection (a) and,
as appropriate, to compliance that is equivalent to filing  a  financing
statement  under  Section 9--311(b), but the filing or compliance is not
of itself a factor in determining  whether  the  collateral  secures  an
obligation.  If  it is determined for another reason that the collateral
secures an obligation,  a  security  interest  held  by  the  consignor,
lessor,  bailor,  licensor,  owner,  or  buyer  which  attaches  to  the
collateral is perfected by the filing or compliance.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-506 - Effect of Errors or Omissions

Section 9--506. Effect of Errors or Omissions.
(a) Minor  errors  and  omissions. A financing statement substantially
satisfying the requirements of this part is effective, even  if  it  has
minor  errors  or  omissions,  unless  the  errors or omissions make the
financing statement seriously misleading.
(b) Financing statement  seriously  misleading.  Except  as  otherwise
provided   in   subsection   (c),   a  financing  statement  that  fails
sufficiently to provide the  name  of  the  debtor  in  accordance  with
Section 9--503(a) is seriously misleading.
(c) Financing  statement  not seriously misleading. If a search of the
records of the filing office under the debtor's correct name, using  the
filing  office's  standard  search  logic,  if  any,  would  disclose  a
financing statement that fails sufficiently to provide the name  of  the
debtor  in accordance with Section 9--503(a), the name provided does not
make the financing statement seriously misleading.
(d) "Debtor's correct name." For purposes of  Section  9--508(b),  the
"debtor's  correct name" in subsection (c) means the correct name of the
new debtor.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-507 - Effect of Certain Events on Effectiveness of Financing Statement

Section 9--507. Effect  of  Certain Events on Effectiveness of Financing
Statement.
(a) Disposition. A filed financing statement  remains  effective  with
respect  to  collateral  that  is  sold, exchanged, leased, licensed, or
otherwise disposed of and in which a security interest  or  agricultural
lien  continues,  even  if the secured party knows of or consents to the
disposition.
(b) Information becoming seriously  misleading.  Except  as  otherwise
provided  in subsection (c) and Section 9--508, a financing statement is
not rendered ineffective if, after the financing statement is filed, the
information  provided  in  the  financing  statement  becomes  seriously
misleading under Section 9--506.
(c) Change  in  debtor's  name.  If  the  name  that a filed financing
statement provides for a debtor becomes insufficient as the name of  the
debtor  under  Section 9--503(a) so that the financing statement becomes
seriously misleading under Section 9--506:
(1) the financing statement is effective to  perfect  a  security
interest  in  collateral  acquired  by  the debtor before, or
within four  months  after,  the  filed  financing  statement
becomes seriously misleading; and
(2) the  financing  statement  is  not  effective  to  perfect  a
security interest in collateral acquired by the  debtor  more
than  four months after the filed financing statement becomes
seriously misleading, unless an amendment  to  the  financing
statement which renders the financing statement not seriously
misleading  is  filed  within four months after the financing
statement became seriously misleading.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-508 - Effectiveness of Financing Statement if New Debtor Becomes Bound by Security Agreement

Section 9--508. Effectiveness  of  Financing  Statement  If  New  Debtor
Becomes Bound by Security Agreement.
(a) Financing statement naming original debtor.  Except  as  otherwise
provided in this section, a filed financing statement naming an original
debtor  is  effective  to  perfect  a security interest in collateral in
which a new debtor has  or  acquires  rights  to  the  extent  that  the
financing  statement  would  have been effective had the original debtor
acquired rights in the collateral.
(b) Financing  statement  becoming  seriously   misleading.   If   the
difference  between  the name of the original debtor and that of the new
debtor causes a  filed  financing  statement  that  is  effective  under
subsection (a) to be seriously misleading under Section 9--506:
(1) the  financing  statement  is effective to perfect a security
interest in collateral acquired by the new debtor before, and
within four months after, the new debtor becomes bound  under
Section 9--203(d); and
(2) the  financing  statement  is  not  effective  to  perfect  a
security interest in collateral acquired by  the  new  debtor
more  than  four  months  after  the new debtor becomes bound
under Section 9--203(d) unless an initial financing statement
providing the name of the new  debtor  is  filed  before  the
expiration of that time.
(c) When  section  not  applicable.  This  section  does  not apply to
collateral as to which a filed  financing  statement  remains  effective
against the new debtor under Section 9--507(a).
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-509 - Persons Entitled to File a Record

Section 9--509. Persons Entitled to File a Record.
(a) Person  entitled  to  file  record.  A  person may file an initial
financing  statement,  amendment  that  adds  collateral  covered  by  a
financing  statement,  or  amendment  that  adds a debtor to a financing
statement only if:
(1) the debtor authorizes the filing in an  authenticated  record
or pursuant to subsection (b) or (c); or
(2) the  person  holds  an  agricultural  lien  that  has  become
effective at the time of filing and the  financing  statement
covers   only   collateral  in  which  the  person  holds  an
agricultural lien.
(b) Security agreement as authorization. By authenticating or becoming
bound as debtor  by  a  security  agreement,  a  debtor  or  new  debtor
authorizes  the  filing  of  an  initial  financing  statement,  and  an
amendment, covering:
(1) the collateral described in the security agreement; and
(2) property that becomes collateral under Section  9--315(a)(2),
whether  or  not  the  security  agreement  expressly  covers
proceeds.
(c) Acquisition  of  collateral   as   authorization.   By   acquiring
collateral  in  which a security interest or agricultural lien continues
under Section 9--315(a)(1), a debtor authorizes the filing of an initial
financing statement, and  an  amendment,  covering  the  collateral  and
property that becomes collateral under Section 9--315(a)(2).
(d) Person  entitled  to file certain amendments. A person may file an
amendment other than an amendment that  adds  collateral  covered  by  a
financing  statement  or  an amendment that adds a debtor to a financing
statement only if:
(1) the secured party of record authorizes the filing; or
(2) the amendment is a  termination  statement  for  a  financing
statement  as to which the secured party of record has failed
to file or  send  a  termination  statement  as  required  by
Section  9--513(a)  or (c), the debtor authorizes the filing,
and the  termination  statement  indicates  that  the  debtor
authorized it to be filed.
(e) Multiple  secured  parties  of  record.  If there is more than one
secured party of record for a financing statement, each secured party of
record may authorize the filing of an amendment under subsection (d).
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-510 - Effectiveness of Filed Record

Section 9--510. Effectiveness of Filed Record.
(a) Filed  record effective if authorized. A filed record is effective
only to the extent that it was filed by a person that may file it  under
Section 9--509.
(b) Authorization  by one secured party of record. A record authorized
by one secured party of record does not affect the  financing  statement
with respect to another secured party of record.
(c) Continuation  statement not timely filed. A continuation statement
that is not filed within the  six-month  period  prescribed  by  Section
9--515(d) is ineffective.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-511 - Secured Party of Record

Section 9--511. Secured Party of Record.
(a) Secured party of record. A secured party of record with respect to
a  financing statement is a person whose name is provided as the name of
the secured party or a representative of the secured party in an initial
financing statement  that  has  been  filed.  If  an  initial  financing
statement  is  filed  under Section 9--514(a), the assignee named in the
initial financing statement is the secured party of record with  respect
to the financing statement.
(b) Amendment  naming  secured  party  of record. If an amendment of a
financing statement which provides the name of a  person  as  a  secured
party  or a representative of a secured party is filed, the person named
in the amendment is a secured party of record. If an amendment is  filed
under  Section  9--514(b),  the  assignee  named  in  the amendment is a
secured party of record.
(c) Amendment deleting secured party of record.  A  person  remains  a
secured  party  of  record  until  the  filing  of  an  amendment of the
financing statement which deletes the person.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-512 - Amendment of Financing Statement

Section 9--512. Amendment of Financing Statement.
(a) Amendment  of  information  in  financing  statement.  Subject  to
Section 9--509, a person  may  add  or  delete  collateral  covered  by,
continue  or  terminate  the effectiveness of, or, subject to subsection
(e), otherwise amend the information provided in, a financing  statement
by filing an amendment that:
(1) identifies,   by  its  file  number,  the  initial  financing
statement to which the amendment relates; and
(2) if the amendment relates to an  initial  financing  statement
filed  in  a filing office described in Section 9--501(a)(1),
provides  the  date  and  time  that  the  initial  financing
statement  was filed and the information specified in Section
9--502(b).
(b) Period of effectiveness not affected. Except as otherwise provided
in Section 9--515, the filing of an amendment does not extend the period
of effectiveness of the financing statement.
(c) Effectiveness  of  amendment  adding   collateral.   A   financing
statement  that  is  amended  by  an  amendment  that adds collateral is
effective as to the added collateral only from the date of the filing of
the amendment.
(d) Effectiveness of amendment adding debtor.  A  financing  statement
that  is  amended  by an amendment that adds a debtor is effective as to
the added debtor only from the date of the filing of the amendment.
(e) Certain amendments ineffective. An amendment is ineffective to the
extent it:
(1) purports to delete all debtors and fails to provide the  name
of a debtor to be covered by the financing statement; or
(2) purports to delete all secured parties of record and fails to
provide the name of a new secured party of record.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-514 - Assignment of Powers of Secured Party of Record

Section 9--514. Assignment of Powers of Secured Party of Record.
(a) Assignment  reflected  on  initial  financing statement. Except as
otherwise provided in subsection (c), an initial financing statement may
reflect an assignment of all of the secured party's power  to  authorize
an  amendment  to  the  financing  statement  by  providing the name and
mailing address of the assignee as the name and address of  the  secured
party.
(b) Assignment  of  filed  financing  statement.  Except  as otherwise
provided in subsection (c), a secured party  of  record  may  assign  of
record all or part of its power to authorize an amendment to a financing
statement  by  filing in the filing office an amendment of the financing
statement which:
(1) identifies,  by  its  file  number,  the  initial   financing
statement to which it relates;
(2) provides the name of the assignor; and
(3) provides the name and mailing address of the assignee.
(c) Assignment  of  record  of  mortgage. An assignment of record of a
security interest in a fixture covered by a record of a  mortgage  which
is  effective  as  a financing statement filed as a fixture filing under
Section 9--502(c) may be made only by an assignment  of  record  of  the
mortgage  in  the  manner  provided by law of this state other than this
chapter.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 1 - Filing Office; Contents and Effectiveness of Financing Statement › 9-517 - Effect of Indexing Errors

Section 9--517. Effect of Indexing Errors.
The  failure of the filing office to index a record correctly does not
  affect the effectiveness of the filed record.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 2 - Duties and Operation of Filing Office › 9-520 - Acceptance and Refusal to Accept Record

Section 9--520. Acceptance and Refusal to Accept Record.
(a) Mandatory  refusal  to accept record. A filing office shall refuse
to accept a record  for  filing  for  a  reason  set  forth  in  Section
9--516(b) and may refuse to accept a record for filing only for a reason
set forth in Section 9--516(b).
(b) Communication  concerning  refusal.  If a filing office refuses to
accept a record for filing, it shall  communicate  to  the  person  that
presented the record the fact of and reason for the refusal and the date
and time the record would have been filed had the filing office accepted
it.  The  communication  must  be  made  at  the  time and in the manner
prescribed by filing-office rule but, in the case  of  a  filing  office
described  in  Section  9--501(a)(2), in no event more than two business
days after the filing office receives the record.
(c) When  filed  financing  statement  effective.  A  filed  financing
statement satisfying Section 9--502(a) and (b) is effective, even if the
filing  office  is  required  to  refuse  to  accept it for filing under
subsection (a). However, Section 9--338 applies  to  a  filed  financing
statement  providing information described in Section 9--516(b)(5) which
is incorrect at the time the financing statement is filed.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 2 - Duties and Operation of Filing Office › 9-521 - Uniform Form of Written Financing Statement; Amendment; and Cooperative Addendum

Section 9--521. Uniform  Form of Written Financing Statement; Amendment;
and Cooperative Addendum.
(a) Initial financing statement form. A  filing  office  that  accepts
written  records  may  not  refuse to accept a written initial financing
statement in the form promulgated by the department of state except  for
a reason as set forth in Section 9--516(b).
(b) Amendment  form.  A filing office that accepts written records may
not refuse to accept a written financing statement amendment in the form
promulgated by the department of state except for a reason as set  forth
in Section 9--516 (b).
(c) Cooperative  addendum  form.  A filing office that accepts written
records may not refuse to accept a written cooperative addendum  in  the
form  promulgated  by the department of state except for a reason as set
forth in Section 9--516 (b).
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 2 - Duties and Operation of Filing Office › 9-522 - Maintenance and Destruction of Records

Section 9--522. Maintenance and Destruction of Records.
(a) Post-lapse  maintenance  and  retrieval of information. The filing
office shall maintain a record of the information provided  in  a  filed
financing statement for at least one year after the effectiveness of the
financing  statement has lapsed under Section 9--515 with respect to all
secured parties of record. The record must be retrievable by  using  the
name of the debtor and:
(1) if  the  record  was  filed in the filing office described in
Section 9--501(a)(1), by using:
(A) the  file  number  assigned  to  the  initial   financing
statement  to  which  the record relates and the date and
time that the record was filed; and
(B) in  the  case  of  collateral  which  is  a   cooperative
interest,  the  real  property tax designation associated
with the real property in which the cooperative  unit  is
located  as  assigned  by  the  local  real  property tax
assessing authority; or
(2) if the record was filed in the  filing  office  described  in
Section  9--501(a)(2),  by  using the file number assigned to
the initial financing statement to which the record relates.
(b) Destruction of written  records.  Except  to  the  extent  that  a
statute  governing disposition of public records provides otherwise, the
filing office immediately may destroy any written  record  evidencing  a
financing  statement.  However,  if the filing office destroys a written
record, it shall maintain another  record  of  the  financing  statement
which complies with subsection (a).
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 2 - Duties and Operation of Filing Office › 9-524 - Delay by Filing Office

Section 9--524. Delay by Filing Office.
Delay by the filing office beyond a time limit prescribed by this part
is excused if:
(a) the  delay  is caused by interruption of communication or computer
facilities, war, emergency conditions, failure of  equipment,  or  other
circumstances beyond control of the filing office; and
(b) the   filing  office  exercises  reasonable  diligence  under  the
circumstances.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 2 - Duties and Operation of Filing Office › 9-526 - Filing-Office Rules

Section 9--526. Filing-office Rules.
(a) Adoption  of  filing-office  rules.  The  secretary of state shall
adopt and publish rules to implement  this  article.  The  filing-office
rules must be consistent with this article.
(b) Harmonization  of  rules.  To  keep  the  filing-office  rules and
practices of the filing office in harmony with the rules  and  practices
of  filing  offices in other jurisdictions that enact substantially this
part, and to keep the technology used by the  filing  office  compatible
with  the  technology used by filing offices in other jurisdictions that
enact substantially this part, the secretary of  state,  so  far  as  is
consistent  with the purposes, policies, and provisions of this article,
in adopting, amending, and repealing filing-office rules, shall:
(1) consult with filing offices in other jurisdictions that enact
substantially this part; and
(2) consult  the  most  recent  version  of   the   Model   Rules
promulgated  by  the  International  Association of Corporate
Administrators or any successor organization; and
(3) take into consideration the rules and practices of,  and  the
technology  used  by,  filing  offices in other jurisdictions
that enact substantially this part.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 5 - Filing › Sub Part 2 - Duties and Operation of Filing Office › 9-527 - Duty to Report

Section 9--527. Duty to Report.
The  secretary  of  state  shall report to the governor, the temporary
president of the senate and the speaker of the assembly on the first day
of July, two thousand two, on the first day of July, two thousand  three
and  biennially on the first day of July thereafter, on the operation of
the filing office. In addition to a statement on the  operation  of  the
filing  office,  the  report  shall contain a statement of the extent to
which:
(a) the filing office rules are not in harmony with the rules  of  the
filing offices in other jurisdictions that enact substantially this part
and the reasons for such variation; and
(b)  the  filing  office rules are not in harmony with the most recent
version of the Model Rules promulgated by the International  Association
of  Corporate  Administrators,  or  any  successor organization, and the
reasons for these variations.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › 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

Section 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 secured
party has the rights provided in this  part  and,  except  as  otherwise
provided  in Section 9--602, those provided by agreement of the parties.
A secured party:
(1) may reduce a  claim  to  judgment,  foreclose,  or  otherwise
enforce the claim, security interest, or agricultural lien by
any available judicial procedure; and
(2) if  the collateral is documents, may proceed either as to the
documents or as to the goods they cover.
(b) Rights and duties of secured party in  possession  or  control.  A
secured party in possession of collateral or control of collateral under
Section  7--106,  9--104,  9--105,  9--106, or 9--107 has the rights and
duties provided in Section 9--207.
(c) Rights  cumulative;  simultaneous  exercise.  The   rights   under
subsections   (a)   and   (b)   are  cumulative  and  may  be  exercised
simultaneously.
(d) Rights of debtor and obligor.  Except  as  otherwise  provided  in
subsection  (g)  and  Section  9--605,  after  default,  a debtor and an
obligor have the rights provided in this part and by  agreement  of  the
parties.
(e) Lien  of  levy  after judgment. If a secured party has reduced its
claim to judgment, the lien of any  levy  that  may  be  made  upon  the
collateral  by  virtue  of  an execution based upon the judgment relates
back to the earliest of:
(1) the  date  of  perfection  of  the   security   interest   or
agricultural lien in the collateral;
(2) the  date  of  filing  a  financing  statement  covering  the
collateral; or
(3) any date specified in a statute under which the  agricultural
lien was created.
(f) Execution  sale.  A sale pursuant to an execution is a foreclosure
of the security interest or  agricultural  lien  by  judicial  procedure
within  the meaning of this section. A secured party may purchase at the
sale and thereafter hold the collateral free of any  other  requirements
of this article.
(g) Consignor  or  buyer  of  certain  rights  to  payment.  Except as
otherwise provided in Section 9--607(c), this  part  imposes  no  duties
upon  a  secured  party  that  is a consignor or is a buyer of accounts,
chattel paper, payment intangibles, or promissory notes.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 6 - Default › Sub Part 1 - Default and Enforcement of Security Interest › 9-602 - Waiver and Varience of Rights and Duties

Section 9--602. Waiver and Variance of Rights and Duties.
Except  as  otherwise  provided  in Section 9--624, to the extent that
they give rights to a debtor or obligor and impose duties on  a  secured
party,  the  debtor or obligor may not waive or vary the rules stated in
the following listed sections:
(a) Section 9--207 (b) (4) (C), which deals with use and operation  of
the collateral by the secured party;
(b) Section  9--210,  which  deals with requests for an accounting and
requests concerning a list of collateral and statement of account;
(c) Section 9--607 (c), which deals with collection and enforcement of
collateral;
(d) Sections 9--608 (a) and 9--615 (c) to the extent  that  they  deal
with   application   or  payment  of  noncash  proceeds  of  collection,
enforcement, or disposition;
(e) Sections 9--608 (a) and 9--615 (d) to the extent that they require
accounting for or payment of surplus proceeds of collateral;
(f) Section 9--609 to the extent that it imposes upon a secured  party
that takes possession of collateral without judicial process the duty to
do so without breach of the peace;
(g) Sections  9--610  (b), 9--611, 9--613, and 9--614, which deal with
disposition of collateral;
(h) Section 9--615 (f), which deals with calculation of  a  deficiency
or  surplus  when  a  disposition is made to the secured party, a person
related to the secured party, or a secondary obligor;
(i) Section 9--616, which deals with explanation of the calculation of
a surplus or deficiency;
(j) Sections 9--620, 9--621, and 9--622, which deal with acceptance of
collateral in satisfaction of obligation;
(k) Section 9--623, which deals with redemption of collateral;
(l) Section 9--624, which deals with permissible waivers; and
(m) Sections 9--625 and 9--626, which deal with  the  secured  party's
liability for failure to comply with this article.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 6 - Default › Sub Part 1 - Default and Enforcement of Security Interest › 9-603 - Agreement on Standards Concerning Rights and Duties

Section 9--603. Agreement on Standards Concerning Rights and Duties.
(a) Agreed  standards.  The  parties  may  determine  by agreement the
standards measuring the fulfillment of the rights of a debtor or obligor
and the duties of a secured party under a rule stated in Section  9--602
if the standards are not manifestly unreasonable.
(b) Agreed  standards  inapplicable to breach of peace. Subsection (a)
does not apply  to  the  duty  under  Section  9--609  to  refrain  from
breaching the peace.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 6 - Default › Sub Part 1 - Default and Enforcement of Security Interest › 9-604 - Procedure if Security Agreement Covers Real Property, Fixtures, or Cooperative Interests

Section 9--604. Procedure  If  Security  Agreement Covers Real Property,
Fixtures, or Cooperative Interests.
(a) Enforcement: personal and real property. If a  security  agreement
covers both personal and real property, a secured party may proceed:
(1) under   this   part  as  to  the  personal  property  without
prejudicing any rights with respect to the real property; or
(2) as to both the personal property and  the  real  property  in
accordance with the rights with respect to the real property,
in which case the other provisions of this part do not apply.
(b) Enforcement:  fixtures.  Subject  to subsection (c), if a security
agreement covers goods that are or become fixtures, a secured party  may
proceed:
(1) under this part; or
(2) in  accordance with the rights with respect to real property,
in which case the other provisions of this part do not apply.
(c) Removal of fixtures. Subject to the other provisions of this part,
if a secured party holding a security interest in fixtures has  priority
over  all  owners  and  encumbrancers  of the real property, the secured
party, after default, may remove the collateral from the real property.
(d) Injury caused by removal. A secured party that removes  collateral
shall promptly reimburse any encumbrancer or owner of the real property,
other  than  the  debtor,  for the cost of repair of any physical injury
caused by  the  removal.  The  secured  party  need  not  reimburse  the
encumbrancer  or  owner for any diminution in value of the real property
caused by the absence of the  goods  removed  or  by  any  necessity  of
replacing them. A person entitled to reimbursement may refuse permission
to  remove  until  the  secured  party  gives adequate assurance for the
performance of the obligation to reimburse.
(e) Enforcement: cooperative  interests.  A  security  interest  in  a
cooperative  interest  may  be  enforced  only  as  provided  in Section
9--601(a).
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 6 - Default › Sub Part 1 - Default and Enforcement of Security Interest › 9-605 - Unknown Debtor or Secondary Obligor

Section 9--605. Unknown Debtor or Secondary Obligor.
A  secured  party  does  not owe a duty based on its status as secured
party:
(a) to a person that is a debtor or obligor, unless the secured  party
knows:
(1) that the person is a debtor or obligor;
(2) the identity of the person; and
(3) how to communicate with the person; or
(b) to  a  secured  party  or  lienholder  that  has filed a financing
statement against a person, unless the secured party knows:
(1) that the person is a debtor; and
(2) the identity of the person.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 6 - Default › Sub Part 1 - Default and Enforcement of Security Interest › 9-606 - Time of Default for Agricultural Lien

Section 9--606. Time of Default for Agricultural Lien.
For  purposes  of  this  part,  a default occurs in connection with an
  agricultural lien at the time the  secured  party  becomes  entitled  to
  enforce  the  lien  in  accordance  with  the statute under which it was
  created.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 6 - Default › Sub Part 1 - Default and Enforcement of Security Interest › 9-607 - Collection and Enforcement by Secured Party

Section 9--607. Collection and Enforcement by Secured Party.
(a) Collection  and  enforcement  generally.  If so agreed, and in any
event after default, a secured party:
(1) may notify an account debtor or  other  person  obligated  on
collateral to make payment or otherwise render performance to
or for the benefit of the secured party;
(2) may  take any proceeds to which the secured party is entitled
under Section 9--315;
(3) may enforce the obligations of an  account  debtor  or  other
person obligated on collateral and exercise the rights of the
debtor  with  respect to the obligation of the account debtor
or other person obligated on collateral to  make  payment  or
otherwise  render performance to the debtor, and with respect
to any property that secures the obligations of  the  account
debtor or other person obligated on the collateral;
(4) if  it  holds  a  security  interest  in  a  deposit  account
perfected by control under Section 9--104 (a) (1), may  apply
the  balance of the deposit account to the obligation secured
by the deposit account; and
(5) if  it  holds  a  security  interest  in  a  deposit  account
perfected by control under Section 9--104 (a) (2) or (3), may
instruct  the  bank to pay the balance of the deposit account
to or for the benefit of the secured party.
(b) Nonjudicial enforcement of mortgage.  If  necessary  to  enable  a
secured party to exercise under subsection (a) (3) the right of a debtor
to enforce a mortgage nonjudicially, the secured party may record in the
office in which a record of the mortgage is recorded:
(1) a copy of the security agreement that creates or provides for
a   security  interest  in  the  obligation  secured  by  the
mortgage; and
(2) the  secured  party's  sworn  affidavit  in  recordable  form
stating that:
(A) a  default  has  occurred  with respect to the obligation
secured by the mortgage; and
(B) the secured party is entitled  to  enforce  the  mortgage
nonjudicially.
(c) Commercially  reasonable  collection  and  enforcement.  A secured
party shall proceed in a commercially reasonable manner if  the  secured
party:
(1) undertakes  to  collect  from  or enforce an obligation of an
account debtor or other person obligated on collateral; and
(2) is  entitled  to  charge  back  uncollected   collateral   or
otherwise to full or limited recourse against the debtor or a
secondary obligor.
(d) Expenses of collection and enforcement. A secured party may deduct
from the collections made pursuant to subsection (c) reasonable expenses
of  collection and enforcement, including reasonable attorney's fees and
legal expenses incurred by the secured party.
(e) Duties to secured  party  not  affected.  This  section  does  not
determine  whether an account debtor, bank, or other person obligated on
collateral owes a duty to a secured party.