N.Y. General Business Law § 604-dd: Application to secured debt

§ 604-dd. Application to secured debt. 1. Except with respect to

section six hundred four-ee of this article, this article shall not

apply to debts secured by real property.

2. Section six hundred four-bb of this article and the cause of action

authorized by subdivision one of section six hundred four-cc of this

article shall not apply to debts secured by personal property.

3. For debts secured by personal property, the affirmative defense

authorized by section six hundred four-cc of this article shall not

affect the creditor's right to enforce any security interest upon

default of the financing and security agreement under article nine of

the uniform commercial code including, but not limited to, repossession

or voluntary surrender of the subject personal property or seeking and

obtaining a court order to retake the subject personal property. The

affirmative defense shall affect only the coerced debtor's liability for

any deficiency after the repossession or surrender and disposition of

the subject collateral.