N.Y. Lien Law § 190: Corporate mortgages against real and personal property

§ 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.