reglab/statecodes huggingface dataset:
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 1 - Law Governing Perfection and Priority › 9-304 - Law Governing Perfection and Priority of Security Interests in Deposit Accounts.

Section 9--304. Law   Governing  Perfection  and  Priority  of  Security
Interests in Deposit Accounts.
(a) Law of bank's jurisdiction governs. The  local  law  of  a  bank's
jurisdiction   governs   perfection,   the   effect   of  perfection  or
nonperfection, and the priority of a  security  interest  in  a  deposit
account maintained with that bank.
(b) Bank's  jurisdiction.  The  following  rules  determine  a  bank's
jurisdiction for purposes of this part:
(1) If an agreement between the bank and its  customer  governing
the  deposit  account  expressly  provides  that a particular
jurisdiction is the bank's jurisdiction for purposes of  this
part, this article, or this chapter, that jurisdiction is the
bank's jurisdiction.
(2) If  paragraph (1) does not apply and an agreement between the
bank and its customer governing the deposit account expressly
provides that the agreement is  governed  by  the  law  of  a
particular  jurisdiction,  that  jurisdiction  is  the bank's
jurisdiction.
(3) If neither paragraph (1) nor paragraph  (2)  applies  and  an
agreement  between  the  bank  and its customer governing the
deposit account expressly provides that the  deposit  account
is maintained at an office in a particular jurisdiction, that
jurisdiction is the bank's jurisdiction.
(4) If  none  of  the  preceding  paragraphs  apply,  the  bank's
jurisdiction  is  the  jurisdiction  in  which   the   office
identified  in an account statement as the office serving the
customer's account is located.
(5) If  none  of  the  preceding  paragraphs  apply,  the  bank's
jurisdiction is the jurisdiction in which the chief executive
office of the bank is located.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 1 - Law Governing Perfection and Priority › 9-306 - Law Governing Perfection and Priority of Security Interests in Letter-of-Credit Rights.

Section 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 subsection (c), the local law of the issuer's jurisdiction or
a  nominated  person's  jurisdiction  governs  perfection, the effect of
perfection or nonperfection, and the priority of a security interest  in
a  letter-of-credit  right  if  the  issuer's  jurisdiction or nominated
person's jurisdiction is a state.
(b) Issuer's or nominated person's jurisdiction. For purposes of  this
part, an issuer's jurisdiction or nominated person's jurisdiction is the
jurisdiction  whose law governs the liability of the issuer or nominated
person with respect to the letter-of-credit right as provided in Section
5--116.
(c) When section not applicable. This section  does  not  apply  to  a
security interest that is perfected only under Section 9--308(d).
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 2 - Perfection › 9-308 - When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection.

Section 9--308. When   Security   Interest   or   Agricultural  Lien  Is
Perfected; Continuity of Perfection.
(a) Perfection of security interest. Except as otherwise  provided  in
this  section and Section 9--309, a security interest is perfected if it
has attached and all of the applicable requirements  for  perfection  in
Sections  9--310 through 9--316 have been satisfied. A security interest
is perfected  when  it  attaches  if  the  applicable  requirements  are
satisfied before the security interest attaches.
(b) Perfection of agricultural lien. An agricultural lien is perfected
if  it  has  become effective and all of the applicable requirements for
perfection in Section 9--310 have been satisfied. An  agricultural  lien
is  perfected  when  it becomes effective if the applicable requirements
are satisfied before the agricultural lien becomes effective.
(c) Continuous perfection; perfection by different methods. A security
interest or  agricultural  lien  is  perfected  continuously  if  it  is
originally  perfected  by  one  method  under  this article and is later
perfected by another method under this article, without an  intermediate
period when it was unperfected.
(d) Supporting  obligation.  Perfection  of  a  security  interest  in
collateral also perfects a security interest in a supporting  obligation
for the collateral.
(e) Lien  securing right to payment. Perfection of a security interest
in a right to payment or performance also perfects a  security  interest
in  a  security  interest,  mortgage,  or other lien on personal or real
property securing the right.
(f) Security entitlement carried in securities account. Perfection  of
a  security  interest  in  a securities account also perfects a security
interest in the security entitlements carried in the securities account.
(g) Commodity contract carried in commodity account. Perfection  of  a
security  interest  in  a  commodity  account  also  perfects a security
interest in the commodity contracts carried in the commodity account.
(h) Cooperative  organization   security   interest.   A   cooperative
organization  security  interest  becomes perfected when the cooperative
interest first comes into existence and remains perfected so long as the
cooperative interest exists.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 2 - Perfection › 9-309 - Security Interest Perfected Upon Attachment.

Section 9--309. Security Interest Perfected upon Attachment.
The following security interests are perfected when they attach:
(1) a  purchase-money  security  interest in consumer goods, except as
otherwise provided in Section 9--311(b) with respect to  consumer  goods
that are subject to a statute or treaty described in Section 9--311(a);
(2) an assignment of accounts or payment intangibles which does not by
itself  or  in  conjunction  with other assignments to the same assignee
transfer a significant part of the assignor's  outstanding  accounts  or
payment intangibles;
(3) a sale of a payment intangible;
(4) a sale of a promissory note;
(5) a   security   interest   created   by   the   assignment   of   a
health-care-insurance receivable to  the  provider  of  the  health-care
goods or services;
(6) a   security   interest  arising  under  Section  2--401,  2--505,
2--711(3), or 2-A-508(5), until the debtor  obtains  possession  of  the
collateral;
(7) a  security  interest  of  a collecting bank arising under Section
4--210;
(8) a security interest of an issuer or nominated person arising under
Section 5--118;
(9) a security interest arising in the delivery of a  financial  asset
under Section 9--206(c);
(10) a security interest in investment property created by a broker or
securities intermediary;
(11) a  security  interest  in  a  commodity  contract  or a commodity
account created by a commodity intermediary;
(12) an assignment for the benefit of all creditors of the  transferor
and subsequent transfers by the assignee thereunder;
(13) a  security  interest  created  by  an assignment of a beneficial
interest in a decedent's estate; and
(14) a sale by an individual of an account that is a right to  payment
of winnings in a lottery or other game of chance.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 2 - Perfection › 9-310 - When Filing Required to Perfect Security Interest or Agricultural Lien; Security Interests and Agricultural Liens to Which Filing Provisions Do Not Ap

Section 9--310. When  Filing  Required  to  Perfect Security Interest or
Agricultural Lien; Security Interests and Agricultural
Liens to Which Filing Provisions Do Not Apply.
(a) General rule: perfection by filing. Except as  otherwise  provided
in  subsection  (b) and Section 9--312(b), a financing statement must be
filed to perfect all security interests and agricultural liens.
(b) Exceptions: filing not necessary. Except as provided in subsection
(d), the filing of a financing statement is not necessary to  perfect  a
security interest:
(1) that is perfected under Section 9--308(d), (e), (f), or (g);
(2) that is perfected under Section 9--309 when it attaches;
(3) in  property  subject  to  a  statute,  regulation, or treaty
described in Section 9--311(a);
(4) in goods in possession of a bailee which is  perfected  under
Section 9--312(d)(1) or (2);
(5) in  certificated securities, documents, goods, or instruments
which is perfected without  filing,  control,  or  possession
under Section 9--312(e), (f), or (g);
(6) in collateral in the secured party's possession under Section
9--313;
(7) in  a certificated security which is perfected by delivery of
the security certificate to the secured party  under  Section
9--313;
(8) in  deposit  accounts,  electronic  chattel paper, electronic
documents, investment property,  or  letter-of-credit  rights
which is perfected by control under Section 9--314;
(9) in proceeds which is perfected under Section 9--315;
(10) that is perfected under Section 9--316; or
(11) that is a cooperative organization security interest.
(c) Assignment  of  perfected  security  interest.  If a secured party
assigns a perfected security interest or  agricultural  lien,  a  filing
under  this  article is not required to continue the perfected status of
the security interest against creditors  of  and  transferees  from  the
original debtor.
(d) Special  rule  for cooperative interests. Except for a cooperative
organization security interest, a security  interest  in  a  cooperative
interest may be perfected only by filing a financing statement.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 2 - Perfection › 9-311 - Perfection of Security Interests in Property Subject to Certain Statutes, Regulations, and Treaties.

Section 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
provided  in  subsection (d), the filing of a financing statement is not
necessary or effective  to  perfect  a  security  interest  in  property
subject to:
(1) a  statute,  regulation,  or  treaty of the United States
whose requirements for a  security  interest's  obtaining
priority  over the rights of a lien creditor with respect
to the property preempt Section 9--310(a);
(2) a  certificate-of-title  statute   of   this   state   or
regulations  promulgated  thereunder,  to the extent such
statute or regulations provide for a security interest to
be indicated on the certificate as a condition or  result
of perfection; or
(3) a  statute  of  another jurisdiction which provides for a
security interest to be indicated  on  a  certificate  of
title as a condition or result of the security interest's
obtaining  priority  over  the  rights of a lien creditor
with respect to the property.
(b) Compliance with other law. Compliance with the requirements  of  a
statute, regulation, or treaty described in subsection (a) for obtaining
priority  over the rights of a lien creditor is equivalent to the filing
of a  financing  statement  under  this  article.  Except  as  otherwise
provided in subsection (d) and Sections 9--313 and 9--316(d) and (e) for
goods covered by a certificate of title, a security interest in property
subject  to a statute, regulation, or treaty described in subsection (a)
may be perfected only by  compliance  with  those  requirements,  and  a
security  interest  so  perfected  remains  perfected  notwithstanding a
change in the use or transfer of possession of the collateral.
(c) Duration and renewal of perfection. Except as  otherwise  provided
in subsection (d) and Section 9--316(d) and (e), duration and renewal of
perfection  of  a  security  interest  perfected  by compliance with the
requirements prescribed by a statute, regulation, or treaty described in
subsection (a) are governed by the statute, regulation,  or  treaty.  In
other respects, the security interest is subject to this article.
(d) Inapplicability  to  certain inventory. During any period in which
collateral subject to  a  statute  specified  in  subsection  (a)(2)  is
inventory held for sale or lease by a person or leased by that person as
lessor and that person is in the business of selling goods of that kind,
this  section  does  not apply to a security interest in that collateral
created by that person.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 2 - Perfection › 9-314 - Perfection by Control.

Section 9--314. Perfection by Control.
(a) Perfection by control. A security interest in investment property,
deposit  accounts, letter-of-credit rights, electronic chattel paper, or
electronic documents may be perfected by control of the collateral under
Section 7--106, 9--104, 9--105, 9--106, or 9--107.
(b) Specified collateral: time of perfection by control;  continuation
of  perfection.  A  security  interest  in  deposit accounts, electronic
chattel paper,  letter-of-credit  rights,  or  electronic  documents  is
perfected  by  control  under  Section 7--106, 9--104, 9--105, or 9--107
when the secured party obtains control and remains perfected by  control
only while the secured party retains control.
(c) Investment  property:  time of perfection by control; continuation
of perfection. A security interest in investment property  is  perfected
by  control under Section 9--106 from the time the secured party obtains
control and remains perfected by control until:
(1) the secured party does not have control; and
(2) one of the following occurs:
(A) if the collateral is a certificated security, the  debtor
has or acquires possession of the security certificate;
(B) if  the  collateral  is  an  uncertificated security, the
issuer has registered or  registers  the  debtor  as  the
registered owner; or
(C) if  the  collateral is a security entitlement, the debtor
is or becomes the entitlement holder.
(d) Cooperative interests. Subsections (a) through (c) do not apply to
cooperative interests.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 2 - Perfection › 9-315 - Secured Party's Rights on Disposition of Collateral and in Proceeds.

Section 9--315. Secured  Party's Rights on Disposition of Collateral and
in Proceeds.
(a) Disposition of collateral: continuation of  security  interest  or
agricultural  lien;  proceeds.  Except  as  otherwise  provided  in this
article and in Section 2--403(2):
(1) a  security  interest  or  agricultural  lien  continues   in
collateral notwithstanding sale, lease, license, exchange, or
other disposition thereof unless the secured party authorized
the disposition free of the security interest or agricultural
lien; and
(2) a  security interest attaches to any identifiable proceeds of
collateral.
(b) When  commingled  proceeds   identifiable.   Proceeds   that   are
commingled with other property are identifiable proceeds:
(1) if  the proceeds are goods, to the extent provided by Section
9--336; and
(2) if the proceeds are not goods, to the extent that the secured
party  identifies  the  proceeds  by  a  method  of  tracing,
including   application  of  equitable  principles,  that  is
permitted under law other than this article with  respect  to
commingled property of the type involved.
(c) Perfection  of  security interest in proceeds. A security interest
in proceeds is a perfected security interest if the security interest in
the original collateral was perfected.
(d) Continuation of  perfection.  A  perfected  security  interest  in
proceeds becomes unperfected on the 21st day after the security interest
attaches to the proceeds unless:
(1) the following conditions are satisfied:
(A) a   filed   financing   statement   covers  the  original
collateral;
(B) the proceeds are collateral in which a security  interest
may  be  perfected  by  filing in the office in which the
financing statement has been filed; and
(C) the proceeds are not acquired with cash proceeds;
(2) the proceeds are identifiable cash proceeds; or
(3) the security interest in the proceeds is perfected other than
under subsection (c) when the security interest  attaches  to
the proceeds or within 20 days thereafter.
(e) When  perfected security interest in proceeds becomes unperfected.
If a  filed  financing  statement  covers  the  original  collateral,  a
security  interest  in proceeds which remains perfected under subsection
(d)(1) becomes unperfected at the later of:
(1) when the  effectiveness  of  the  filed  financing  statement
lapses  under  Section  9--515 or is terminated under Section
9--513; or
(2) the 21st day after the  security  interest  attaches  to  the
proceeds.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-317 - Interests That Take Priority Over or Take Free of Security Interest or Agricultural Lien.

Section 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
security interest or agricultural lien is subordinate to the rights of:
(1) a person entitled to priority under Section 9--322; and
(2) except as otherwise provided in subsection (e), a person that
becomes a lien creditor before the earlier of the time:
(A) the  security interest or agricultural lien is perfected;
or
(B) one of the conditions specified in  Section  9--203(b)(3)
is  met and a financing statement covering the collateral
is filed.
(b) Buyers that receive delivery.  Except  as  otherwise  provided  in
subsection (e), a buyer, other than a secured party, of tangible chattel
paper,   tangible  documents,  goods,  instruments,  or  a  certificated
security takes free of a security interest or agricultural lien  if  the
buyer  gives  value  and  receives  delivery  of  the collateral without
knowledge of the security interest or agricultural lien and before it is
perfected.
(c) Lessees that receive delivery. Except  as  otherwise  provided  in
subsection  (e),  a lessee of goods takes free of a security interest or
agricultural lien if the lessee gives value and receives delivery of the
collateral without knowledge of the security  interest  or  agricultural
lien and before it is perfected.
(d) Licensees  and  buyers  of  certain  collateral.  A  licensee of a
general intangible or a buyer, other than a secured party, of  accounts,
electronic  chattel paper, electronic documents, general intangibles, or
investment property other than a certificated security takes free  of  a
security interest if the licensee or buyer gives value without knowledge
of the security interest and before it is perfected.
(e) Purchase-money  security interest. Except as otherwise provided in
Sections 9--320 and 9--321, if a person files a financing statement with
respect to a purchase-money security interest before or within  20  days
after  the  debtor  receives  delivery  of  the collateral, the security
interest takes priority over the rights of  a  buyer,  lessee,  or  lien
creditor which arise between the time the security interest attaches and
the time of filing. The preceding sentence does not apply to cooperative
interests.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 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

Section 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  an  account,
chattel  paper, payment intangible, or promissory note does not retain a
legal or equitable interest in the collateral sold.
(b) Deemed rights of debtor if buyer's security interest  unperfected.
For  purposes  of determining the rights of creditors of, and purchasers
for value of an account or chattel paper from, a debtor that has sold an
account or  chattel  paper,  while  the  buyer's  security  interest  is
unperfected,  the  debtor  is  deemed  to  have  rights and title to the
account or chattel paper identical to those the debtor sold.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-319 - Rights and Title of Consignee With Respect to Creditors and Purchasers.

Section 9--319. Rights  and Title of Consignee with Respect to Creditors
and Purchasers.
(a) Consignee has consignor's rights. Except as otherwise provided  in
subsection  (b), for purposes of determining the rights of creditors of,
and purchasers for value of goods from, a consignee, while the goods are
in the possession of the consignee, the  consignee  is  deemed  to  have
rights  and  title  to the goods identical to those the consignor had or
had power to transfer.
(b) Applicability of other law. For purposes of determining the rights
of a creditor of a consignee, law other than this article determines the
rights and title of a consignee  while  goods  are  in  the  consignee's
possession  if,  under  this part, a perfected security interest held by
the consignor would have priority over the rights of the creditor.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-320 - Buyer of Goods.

Section 9--320. Buyer of Goods.
(a) Buyer in ordinary course of business. Except as otherwise provided
in  subsection (e), a buyer in ordinary course of business, other than a
person buying farm products from a person engaged in farming operations,
takes free of a security interest created by the buyer's seller, even if
the security interest is perfected and the buyer knows of its existence.
(b) Buyer  of  consumer  goods.  Except  as  otherwise   provided   in
subsection  (e),  a  buyer of goods from a person who used or bought the
goods for use primarily for  personal,  family,  or  household  purposes
takes free of a security interest, even if perfected, if the buyer buys:
(1) without knowledge of the security interest;
(2) for value;
(3) primarily  for  the  buyer's  personal,  family, or household
purposes; and
(4) before the filing  of  a  financing  statement  covering  the
goods.
(c) Effectiveness  of filing for subsection (b). To the extent that it
affects the priority of a security interest over a buyer of goods  under
subsection  (b),  the  period  of  effectiveness of a filing made in the
jurisdiction in which the seller  is  located  is  governed  by  Section
9--316(a) and (b).
(d) Buyer  in  ordinary  course of business at wellhead or minehead. A
buyer in ordinary course of business buying oil, gas, or other  minerals
at  the  wellhead  or  minehead  or  after  extraction  takes free of an
interest arising out of an encumbrance.
(e) Possessory security interest not affected. Subsections (a) and (b)
do not affect a security interest in goods  in  the  possession  of  the
secured party under Section 9--313.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-321 - Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business

Section 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,
"licensee  in ordinary course of business" means a person that becomes a
licensee of a general intangible in good faith, without  knowledge  that
the  license  violates  the  rights  of  another  person  in the general
intangible, and in the ordinary course from a person in the business  of
licensing  general intangibles of that kind. A person becomes a licensee
in the ordinary course if the license to the person  comports  with  the
usual  or  customary  practices  in  the  kind  of business in which the
licensor is engaged or  with  the  licensor's  own  usual  or  customary
practices.
(b) Rights  of  licensee in ordinary course of business. A licensee in
ordinary course of  business  takes  its  rights  under  a  nonexclusive
license free of a security interest in the general intangible created by
the  licensor,  even  if  the  security  interest  is  perfected and the
licensee knows of its existence.
(c) Rights of lessee in ordinary  course  of  business.  A  lessee  in
ordinary  course  of  business  takes  its  leasehold interest free of a
security interest in the goods  created  by  the  lessor,  even  if  the
security interest is perfected and the lessee knows of its existence.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-325 - Priority of Security Interests in Transferred Collateral

Section 9--325. Priority    of   Security   Interests   in   Transferred
Collateral.
(a) Subordination of  security  interest  in  transferred  collateral.
Except  as  otherwise  provided  in  subsection (b), a security interest
created by a debtor is subordinate to a security interest  in  the  same
collateral created by another person if:
(1) the  debtor  acquired  the collateral subject to the security
interest created by the other person;
(2) the  security  interest  created  by  the  other  person  was
perfected when the debtor acquired the collateral; and
(3) there  is  no period thereafter when the security interest is
unperfected.
(b) Limitation  of  subsection  (a)  subordination.   Subsection   (a)
subordinates a security interest only if the security interest:
(1) otherwise  would have priority solely under Section 9--322(a)
or 9--324; or
(2) arose solely under Section 2--711(3) or 2-A-508(5).
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-326 - Priority of Security Interests Created by New Debtor

Section 9--326. Priority of Security Interests Created by New Debtor.
(a) Subordination  of security interest created by new debtor. Subject
to subsection (b), a security interest that is created by a  new  debtor
in  collateral  in  which  the  new debtor has or acquires rights and is
perfected  solely  by  a  filed  financing  statement  that   would   be
ineffective  to perfect the security interest but for the application of
Section 9--316(i)(1) or 9--508 is subordinate to a security interest  in
the  same  collateral  which  is  perfected  other  than by such a filed
financing statement.
(b) Priority under other provisions; multiple  original  debtors.  The
other  provisions  of this part determine the priority among conflicting
security interests in the same collateral perfected by  filed  financing
statements  described  in  subsection  (a).  However,  if  the  security
agreements to which a new debtor became bound as debtor were not entered
into by the same original debtor,  the  conflicting  security  interests
rank  according  to  priority  in time of the new debtor's having become
bound.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-327 - Priority of Security Interests in Deposit Account

Section 9--327. Priority of Security Interests in Deposit Account.
The   following  rules  govern  priority  among  conflicting  security
interests in the same deposit account:
(a) A security interest held by a secured party having control of  the
deposit  account  under  Section  9--104 has priority over a conflicting
security interest held by a secured party that does not have control.
(b) Except as otherwise provided in subsections (c) and (d),  security
interests  perfected  by  control under Section 9--314 rank according to
priority in time of obtaining control.
(c) Except  as  otherwise  provided  in  subsection  (d),  a  security
interest  held  by the bank with which the deposit account is maintained
has priority over  a  conflicting  security  interest  held  by  another
secured party.
(d) A   security   interest   perfected   by   control  under  Section
9--104(a)(3) has priority over a security interest held by the bank with
which the deposit account is maintained.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-328 - Priority of Security Interests in Investment Property

Section 9--328. Priority of Security Interests in Investment Property.
The   following  rules  govern  priority  among  conflicting  security
interests in the same investment property:
(a) A security interest held by a  secured  party  having  control  of
investment  property  under  Section 9--106 has priority over a security
interest held by a secured party that  does  not  have  control  of  the
investment property.
(b) Except   as   otherwise   provided  in  paragraphs  (c)  and  (d),
conflicting security interests held by secured parties each of which has
control under Section 9--106 rank according to priority in time of:
(1) if the collateral is a security, obtaining control;
(2) if the collateral is a  security  entitlement  carried  in  a
securities account and:
(A)  if  the  secured  party  obtained  control under Section
8--106 (d) (1), the secured party's becoming  the  person
for which the securities account is maintained;
(B) if  the  secured  party  obtained  control  under Section
8--106 (d) (2), the securities  intermediary's  agreement
to  comply  with  the  secured party's entitlement orders
with respect to security entitlements carried  or  to  be
carried in the securities account; or
(C) if  the  secured  party  obtained control through another
person under Section 8--106 (d) (3), the  time  on  which
priority would be based under this paragraph if the other
person were the secured party; or
(3) if  the  collateral  is  a  commodity contract carried with a
commodity intermediary, the satisfaction of  the  requirement
for  control specified in Section 9--106 (b) (2) with respect
to commodity contracts carried or  to  be  carried  with  the
commodity intermediary.
(c) A  security  interest  held  by  a  securities  intermediary  in a
security  entitlement  or  a  securities  account  maintained  with  the
securities   intermediary  has  priority  over  a  conflicting  security
interest held by another secured party.
(d) A  security  interest  held  by  a  commodity  intermediary  in  a
commodity  contract or a commodity account maintained with the commodity
intermediary has priority over a conflicting security interest  held  by
another secured party.
(e) A  security interest in a certificated security in registered form
which is perfected by taking delivery under Section 9--313 (a)  and  not
by control under Section 9--314 has priority over a conflicting security
interest perfected by a method other than control.
(f) Conflicting  security  interests  created  by a broker, securities
intermediary, or commodity  intermediary  which  are  perfected  without
control under Section 9--106 rank equally.
(g) In  all other cases, priority among conflicting security interests
in investment property is governed by Sections 9--322 and 9--323.
(h) Subsections (a) through (g) do not apply to cooperative interests.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-329 - Priority of Security Interests in Letter-of-Credit Right

Section 9--329. Priority   of  Security  Interests  in  Letter-of-credit
Right.
The  following  rules  govern  priority  among  conflicting   security
interests in the same letter-of-credit right:
(a) A  security interest held by a secured party having control of the
letter-of-credit right under Section 9--107 has priority to  the  extent
of  its  control  over a conflicting security interest held by a secured
party that does not have control.
(b) Security interests perfected by control under Section 9--314  rank
according to priority in time of obtaining control.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-330 - Priority of Purchaser of Chattel Paper or Instrument

Section 9--330. Priority of Purchaser of Chattel Paper or Instrument.
(a) Purchaser's   priority:   security   interest  claimed  merely  as
proceeds.  A purchaser of chattel paper has  priority  over  a  security
interest  in  the  chattel  paper which is claimed merely as proceeds of
inventory subject to a security interest if:
(1) in good faith and in the ordinary course of  the  purchaser's
business,  the purchaser gives new value and takes possession
of the chattel paper or obtains control of the chattel  paper
under Section 9--105; and
(2) the chattel paper does not indicate that it has been assigned
to an identified assignee other than the purchaser.
(b) Purchaser's  priority:  other  security  interests. A purchaser of
chattel paper has priority over a security interest in the chattel paper
which is claimed other than merely as proceeds of inventory subject to a
security interest if the purchaser gives new value and takes  possession
of  the  chattel  paper  or  obtains  control of the chattel paper under
Section 9--105 in good faith, in the ordinary course of the  purchaser's
business, and without knowledge that the purchase violates the rights of
the secured party.
(c) Chattel   paper   purchaser's  priority  in  proceeds.  Except  as
otherwise provided in Section 9--327, a  purchaser  having  priority  in
chattel  paper under subsection (a) or (b) also has priority in proceeds
of the chattel paper to the extent that:
(1) Section 9--322 provides for priority in the proceeds; or
(2) the proceeds consist of the specific  goods  covered  by  the
chattel paper or cash proceeds of the specific goods, even if
the   purchaser's   security  interest  in  the  proceeds  is
unperfected.
(d) Instrument purchaser's priority. Except as otherwise  provided  in
Section  9--331(a),  a  purchaser  of  an instrument has priority over a
security interest in the instrument perfected by  a  method  other  than
possession  if  the  purchaser  gives  value and takes possession of the
instrument in  good  faith  and  without  knowledge  that  the  purchase
violates the rights of the secured party.
(e) Holder  of  purchase-money  security interest gives new value. For
purposes of subsections (a) and (b),  the  holder  of  a  purchase-money
security  interest  in  inventory  gives  new  value  for  chattel paper
constituting proceeds of the inventory.
(f) Indication  of  assignment  gives  knowledge.  For   purposes   of
subsections  (b)  and  (d),  if chattel paper or an instrument indicates
that it has been assigned to an identified secured party other than  the
purchaser,  a purchaser of the chattel paper or instrument has knowledge
that the purchase violates the rights of the secured party.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-331 - Priority of Rights of Purchasers of Instruments, Documents, and Securities Under Other Articles; Priority of Interests in Financial Assets and Securit

Section 9--331. Priority   of   Rights  of  Purchasers  of  Instruments,
Documents,  and  Securities  under   Other   Articles;
Priority of Interests in Financial Assets and Security
Entitlements under Article 8.
(a) Rights  under  Articles 3, 7, and 8 not limited. This article does
not limit the  rights  of  a  holder  in  due  course  of  a  negotiable
instrument,  a  holder  to which a negotiable document of title has been
duly negotiated, or a protected purchaser of a security.  These  holders
or  purchasers  take priority over an earlier security interest, even if
perfected, to the extent provided in Articles 3, 7, and 8.
(b) Protection under Article 8. This article does not limit the rights
of or impose liability on a person to the  extent  that  the  person  is
protected against the assertion of a claim under Article 8.
(c) Filing  not  notice. Filing under this article does not constitute
notice of a claim or defense to the holders, or purchasers,  or  persons
described in subsections (a) and (b).
(d) Section  not applicable to cooperative interests. Subsections (a),
(b), and (c) do not apply to cooperative interests.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-332 - Transfer of Money; Transfer of Funds From Deposit Account

Section 9--332. Transfer  of  Money;  Transfer  of  Funds  from  Deposit
Account.
(a) Transferee of money. A transferee of money takes the money free of
a security interest unless the transferee acts  in  collusion  with  the
debtor in violating the rights of the secured party.
(b) Transferee  of  funds  from deposit account. A transferee of funds
from a deposit account takes the funds free of a  security  interest  in
the  deposit  account  unless  the transferee acts in collusion with the
debtor in violating the rights of the secured party.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-333 - Priority of Certain Liens Arising by Operation of Law

Section 9--333. Priority of Certain Liens Arising by Operation of Law.
(a) "Possessory  lien."  In  this  section, "possessory lien" means an
interest, other than a security interest or an agricultural lien:
(1) which secures payment or performance  of  an  obligation  for
services  or  materials  furnished with respect to goods by a
person in the ordinary course of the person's business;
(2) which is created by statute or rule of law in  favor  of  the
person; and
(3) whose effectiveness depends on the person's possession of the
goods.
(b) Priority  of  possessory  lien.  A  possessory  lien  on goods has
priority over a security interest  in  the  goods  unless  the  lien  is
created by a statute that expressly provides otherwise.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-335 - Accessions

Section 9--335. Accessions.
(a) Creation  of  security  interest in accession. A security interest
may be created in an accession and continues in collateral that  becomes
an accession.
(b) Perfection  of  security  interest.  If  a  security  interest  is
perfected  when  the  collateral  becomes  an  accession,  the  security
interest remains perfected in the collateral.
(c) Priority  of  security  interest.  Except as otherwise provided in
subsection (d), the other provisions of this part determine the priority
of a security interest in an accession.
(d) Compliance with certificate-of-title statute. A security  interest
in an accession is subordinate to a security interest in the whole which
is    perfected    by    compliance   with   the   requirements   of   a
certificate-of-title statute under Section 9--311 (b).
(e) Removal of accession after default. After default, subject to Part
6, a secured party may remove an  accession  from  other  goods  if  the
security interest in the accession has priority over the claims of every
person having an interest in the whole.
(f) Reimbursement  following  removal. A secured party that removes an
accession from other goods under subsection (e) shall promptly reimburse
any holder of a security interest or other lien on,  or  owner  of,  the
whole  or  of  the  other  goods, other than the debtor, for the cost of
repair of any physical injury to the  whole  or  the  other  goods.  The
secured  party need not reimburse the holder or owner for any diminution
in value of the whole or the other goods caused by the  absence  of  the
accession  removed  or  by  any  necessity  for  replacing  it. 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.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-336 - Commingled Goods

Section 9--336. Commingled Goods.
(a) "Commingled  goods."  In  this  section,  "commingled goods" means
goods that are physically united with other goods in such a manner  that
their identity is lost in a product or mass.
(b) No  security  interest  in  commingled  goods  as such. A security
interest does not exist in commingled goods as such. However, a security
interest may attach to a product or mass that results when goods  become
commingled goods.
(c) Attachment  of security interest to product or mass. If collateral
becomes commingled goods, a security interest attaches to the product or
mass.
(d) Perfection  of  security  interest.  If  a  security  interest  in
collateral  is perfected before the collateral becomes commingled goods,
the security interest  that  attaches  to  the  product  or  mass  under
subsection (c) is perfected.
(e) Priority  of  security  interest  Except  as otherwise provided in
subsection (f), the other provisions of this part determine the priority
of a security interest that  attaches  to  the  product  or  mass  under
subsection (c).
(f) Conflicting security interests in product or mass If more than one
security  interest attaches to the product or mass under subsection (c),
the following rules determine priority:
(1) A security interest that is perfected  under  subsection  (d)
has  priority over a security interest that is unperfected at
the time the collateral becomes commingled goods.
(2) If  more  than  one  security  interest  is  perfected  under
subsection  (d),  the  security  interests  rank  equally  in
proportion to the value of the  collateral  at  the  time  it
became commingled goods.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-337 - Priority of Security Interests in Goods Covered by Certificate of Title

Section 9--337. Priority  of  Security  Interests  in  Goods  Covered by
Certificate of Title.
If, while a security interest in goods  is  perfected  by  any  method
under  the  law of another jurisdiction, this state issues a certificate
of title that does not show that the goods are subject to  the  security
interest  or  contain  a  statement that they may be subject to security
interests not shown on the certificate:
(a) a buyer of the goods, other than  a  person  in  the  business  of
selling  goods  of that kind, takes free of the security interest if the
buyer gives value and receives delivery of the goods after  issuance  of
the certificate and without knowledge of the security interest; and
(b) the  security  interest  is  subordinate to a conflicting security
interest in the goods that attaches,  and  is  perfected  under  Section
9--311   (b),   after  issuance  of  the  certificate  and  without  the
conflicting secured party's knowledge of the security interest.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 3 - Priority › 9-338 - Priority of Security Interest or Agricultural Lien Perfected by Filed Financing Statement Providing Certain Incorrect Information

Section 9--338. Priority  of  Security  Interest  or  Agricultural  Lien
Perfected  by  Filed  Financing  Statement   Providing
Certain Incorrect Information.
If  a  security  interest or agricultural lien is perfected by a filed
financing  statement  providing   information   described   in   Section
9--516(b)(5)  which  is incorrect at the time the financing statement is
filed:
(1) the security interest or agricultural lien  is  subordinate  to  a
conflicting  perfected security interest in the collateral to the extent
that the holder of the conflicting  security  interest  gives  value  in
reasonable reliance upon the incorrect information; and
(2) a  purchaser,  other than a secured party, of the collateral takes
free of the security interest or agricultural lien to the  extent  that,
in  reasonable  reliance  upon  the incorrect information, the purchaser
gives value and,  in  the  case  of  tangible  chattel  paper,  tangible
documents,  goods,  instruments,  or  a  security  certificate, receives
delivery of the collateral.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 4 - Rights of Bank › 9-340 - Effectiveness of Right of Recoupment or Set-Off Against Deposit Account

Section 9--340. Effectiveness  of Right of Recoupment or Set-off Against
Deposit Account.
(a) Exercise of recoupment or set-off. Except as otherwise provided in
subsection (c), a bank with which a deposit account  is  maintained  may
exercise any right of recoupment or set-off against a secured party that
holds a security interest in the deposit account.
(b) Recoupment or set-off not affected by security interest. Except as
otherwise provided in subsection (c), the application of this article to
a  security  interest  in  a  deposit account does not affect a right of
recoupment or set-off of the secured  party  as  to  a  deposit  account
maintained with the secured party.
(c) When  set-off  ineffective.  The  exercise  by a bank of a set-off
against a deposit account is ineffective against a  secured  party  that
holds  a  security interest in the deposit account which is perfected by
control under Section 9--104(a)(3), if the set-off is based on  a  claim
against the debtor.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 4 - Rights of Bank › 9-341 - Bank's Rights and Duties With Respect to Deposit Account

Section 9--341. Bank's   Rights  and  Duties  with  Respect  to  Deposit
Account.
Except as otherwise provided in Section 9--340  (c),  and  unless  the
  bank  otherwise  agrees  in an authenticated record, a bank's rights and
  duties with respect to a deposit account maintained with  the  bank  are
  not terminated, suspended, or modified by:
(a) the   creation,  attachment,  or  perfection  of  a  security
interest in the deposit account;
(b) the bank's knowledge of the security interest; or
(c) the bank's receipt of instructions from the secured party.
2023 New York Laws › UCC - Uniform Commercial Code › Article 9 - Secured Transactions › Part 3 - Perfection and Priority › Sub Part 4 - Rights of Bank › 9-342 - Bank's Right to Refuse to Enter Into or Disclose Existence of Control Agreement

Section 9--342. Bank's  Right  to  Refuse  to  Enter  into  or  Disclose
Existence of Control Agreement.
This article does not require a bank to enter into an agreement of the
  kind described in Section 9--104(a)(2), even if its customer so requests
  or directs. A bank that has  entered  into  such  an  agreement  is  not
  required  to  confirm  the  existence of the agreement to another person
  unless requested to do so by its customer.