N.Y. Rural Electric Cooperative Law § 63: Recordation of mortgages; effect thereof

§ 63. Recordation of mortgages; effect thereof. In case of conflict

between this section and article nine of the uniform commercial code,

the provisions of this section shall control. Any mortgage, deed of

trust or other instrument executed by a cooperative or foreign

corporation doing business in this state pursuant to this chapter, which

affects real and personal property and which is recorded in the real

property records in any county in which such property is located or is

to be located, shall have the same force and effect as if the security

interest created by such mortgage in the personal property thereby

affected, had been perfected by filing in accordance with section 9--501

of the uniform commercial code. All after-acquired property of such

cooperative or foreign corporation described or referred to as being

mortgaged or pledged in any such mortgage, deed of trust or other

instrument, shall become subject to the lien thereof immediately upon

the acquisition of such property by such cooperative or foreign

corporation, whether or not such property was in existence at the time

of the execution of such mortgage, deed of trust or other instrument.

Recordation of any such mortgage, deed of trust or other instrument

shall constitute notice and otherwise have the same effect with respect

to such after-acquired property as it has under the laws relating to

recordation, with respect to property owned by such cooperative or

foreign corporation at the time of the execution of such mortgage, deed

of trust or other instrument and therein described or referred to as

being mortgaged or pledged thereby.

The security interest in personal property created by any such

mortgage, deed of trust or other instrument shall, after recordation

thereof, continue perfected and of record without the filing of any

continuation statement as required by section 9--515 of the uniform

commercial code.