N.Y. Education Law § 6234: Perfection of security interests

§ 6234. Perfection of security interests. If made in connection with

the design, construction, acquisition, reconstruction, rehabilitation,

lease, improvement, operation, maintenance, furnishing or equipping of

community or senior college facilities, any pledge of or other security

interest in moneys, earnings, income, revenues, accounts, contract

rights, general intangibles or other personal property, or any other

resources held, made or created by the city university or on its behalf

by any duly authorized officer, employee or agent thereof, or by any

other person to secure such person's obligations to the city university,

shall be valid, binding and perfected from the time when such pledge or

other security interest attaches, without any physical delivery of the

collateral or further act. The lien of any such pledge or other security

interest shall be valid, binding and perfected as against all parties

having claims of any kind in tort, contract or otherwise against the

city university irrespective of whether or not such parties have notice

thereof. No instrument by which such a pledge or security interest is

created nor any financing statement need be recorded or filed. This

section shall apply notwithstanding the provisions of the uniform

commercial code.