State Codes and Statutes

Statutes > New-york > Lie > Article-8 > 190

§  190.  Corporate  mortgages against real and personal property. 1. A  mortgage creating a lien upon real and personal property, executed by  a  corporation  as  security  for  the  payment  of  bonds,  notes or other  evidences of indebtedness, issued  by  such  corporation  or  any  other  corporation,  or  executed  by any telegraph, telephone, electric light,  railroad, street railway or  omnibus  corporation,  and  recorded  as  a  mortgage  of  real  property  in each county where such real property is  located or through which the line or route of such telegraph, telephone,  electric light, railroad, street railway or  omnibus  corporation  runs,  need  not  be  filed  or  refiled  as a chattel mortgage or perfected by  filing in accordance with part five  of  article  nine  of  the  uniform  commercial code in any county where the mortgage is recorded, but filing  in accordance with that part in the department of state only is required  to  perfect  a  security  interest  in the personal property or fixtures  covered by such a mortgage hereafter recorded.    2. When any such  original  mortgage  provides  or  provided  for  the  inclusion of property, either personal, or real and personal, thereafter  acquired,  a  mortgage  of  such after-acquired property supplemental to  such mortgage may be recorded as a mortgage of  real  property  in  each  county  where the original mortgage is recorded and in each county where  such after-acquired real property is located and when so  recorded  need  not  be filed or refiled as a chattel mortgage or perfected by filing in  accordance with part five of article nine of the uniform commercial code  in any county where both the original and the supplemental mortgage  are  recorded,  but  filing in accordance with that part in the department of  state only is required to perfect a security interest  in  the  personal  property  or  fixtures covered by such a supplemental mortgage hereafter  recorded.    3. This section does not  require  the  recording  of  a  supplemental  mortgage  or  filing in accordance with part five of article nine of the  uniform commercial code in the department of state to perfect a mortgage  of or  security  interest  in  after-acquired  property  when  any  such  original  mortgage  provides  or  provided  for  the  inclusion  of such  after-acquired property and decisional law prior  to  the  enactment  or  amendment  of  this section, or of former section two hundred thirty-one  of this chapter, recognized the validity or  enforceability  of  such  a  provision  in  such  an  original  mortgage  without  the  execution  or  recording  of  a  supplemental  mortgage  covering  such  after-acquired  property, nor does section 9--311 of the uniform commercial code require  the  perfection  of  a  security interest in railway rolling stock under  section twenty-c of title forty-nine of the United States code (as added  by the act of July sixteenth, nineteen hundred fifty-two, chapter  eight  hundred  eighty-one,  66  Stat.  724)  as  now  in force or as hereafter  amended.

State Codes and Statutes

Statutes > New-york > Lie > Article-8 > 190

§  190.  Corporate  mortgages against real and personal property. 1. A  mortgage creating a lien upon real and personal property, executed by  a  corporation  as  security  for  the  payment  of  bonds,  notes or other  evidences of indebtedness, issued  by  such  corporation  or  any  other  corporation,  or  executed  by any telegraph, telephone, electric light,  railroad, street railway or  omnibus  corporation,  and  recorded  as  a  mortgage  of  real  property  in each county where such real property is  located or through which the line or route of such telegraph, telephone,  electric light, railroad, street railway or  omnibus  corporation  runs,  need  not  be  filed  or  refiled  as a chattel mortgage or perfected by  filing in accordance with part five  of  article  nine  of  the  uniform  commercial code in any county where the mortgage is recorded, but filing  in accordance with that part in the department of state only is required  to  perfect  a  security  interest  in the personal property or fixtures  covered by such a mortgage hereafter recorded.    2. When any such  original  mortgage  provides  or  provided  for  the  inclusion of property, either personal, or real and personal, thereafter  acquired,  a  mortgage  of  such after-acquired property supplemental to  such mortgage may be recorded as a mortgage of  real  property  in  each  county  where the original mortgage is recorded and in each county where  such after-acquired real property is located and when so  recorded  need  not  be filed or refiled as a chattel mortgage or perfected by filing in  accordance with part five of article nine of the uniform commercial code  in any county where both the original and the supplemental mortgage  are  recorded,  but  filing in accordance with that part in the department of  state only is required to perfect a security interest  in  the  personal  property  or  fixtures covered by such a supplemental mortgage hereafter  recorded.    3. This section does not  require  the  recording  of  a  supplemental  mortgage  or  filing in accordance with part five of article nine of the  uniform commercial code in the department of state to perfect a mortgage  of or  security  interest  in  after-acquired  property  when  any  such  original  mortgage  provides  or  provided  for  the  inclusion  of such  after-acquired property and decisional law prior  to  the  enactment  or  amendment  of  this section, or of former section two hundred thirty-one  of this chapter, recognized the validity or  enforceability  of  such  a  provision  in  such  an  original  mortgage  without  the  execution  or  recording  of  a  supplemental  mortgage  covering  such  after-acquired  property, nor does section 9--311 of the uniform commercial code require  the  perfection  of  a  security interest in railway rolling stock under  section twenty-c of title forty-nine of the United States code (as added  by the act of July sixteenth, nineteen hundred fifty-two, chapter  eight  hundred  eighty-one,  66  Stat.  724)  as  now  in force or as hereafter  amended.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Lie > Article-8 > 190

§  190.  Corporate  mortgages against real and personal property. 1. A  mortgage creating a lien upon real and personal property, executed by  a  corporation  as  security  for  the  payment  of  bonds,  notes or other  evidences of indebtedness, issued  by  such  corporation  or  any  other  corporation,  or  executed  by any telegraph, telephone, electric light,  railroad, street railway or  omnibus  corporation,  and  recorded  as  a  mortgage  of  real  property  in each county where such real property is  located or through which the line or route of such telegraph, telephone,  electric light, railroad, street railway or  omnibus  corporation  runs,  need  not  be  filed  or  refiled  as a chattel mortgage or perfected by  filing in accordance with part five  of  article  nine  of  the  uniform  commercial code in any county where the mortgage is recorded, but filing  in accordance with that part in the department of state only is required  to  perfect  a  security  interest  in the personal property or fixtures  covered by such a mortgage hereafter recorded.    2. When any such  original  mortgage  provides  or  provided  for  the  inclusion of property, either personal, or real and personal, thereafter  acquired,  a  mortgage  of  such after-acquired property supplemental to  such mortgage may be recorded as a mortgage of  real  property  in  each  county  where the original mortgage is recorded and in each county where  such after-acquired real property is located and when so  recorded  need  not  be filed or refiled as a chattel mortgage or perfected by filing in  accordance with part five of article nine of the uniform commercial code  in any county where both the original and the supplemental mortgage  are  recorded,  but  filing in accordance with that part in the department of  state only is required to perfect a security interest  in  the  personal  property  or  fixtures covered by such a supplemental mortgage hereafter  recorded.    3. This section does not  require  the  recording  of  a  supplemental  mortgage  or  filing in accordance with part five of article nine of the  uniform commercial code in the department of state to perfect a mortgage  of or  security  interest  in  after-acquired  property  when  any  such  original  mortgage  provides  or  provided  for  the  inclusion  of such  after-acquired property and decisional law prior  to  the  enactment  or  amendment  of  this section, or of former section two hundred thirty-one  of this chapter, recognized the validity or  enforceability  of  such  a  provision  in  such  an  original  mortgage  without  the  execution  or  recording  of  a  supplemental  mortgage  covering  such  after-acquired  property, nor does section 9--311 of the uniform commercial code require  the  perfection  of  a  security interest in railway rolling stock under  section twenty-c of title forty-nine of the United States code (as added  by the act of July sixteenth, nineteen hundred fifty-two, chapter  eight  hundred  eighty-one,  66  Stat.  724)  as  now  in force or as hereafter  amended.