N.Y. Uniform Commercial Code Law § 9-308: When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection

Section 9--308. When Security Interest or Agricultural Lien Is

Perfected; Continuity of Perfection.

(a) Perfection of security interest. Except as otherwise provided in

this section and Section 9--309, a security interest is perfected if it

has attached and all of the applicable requirements for perfection in

Sections 9--310 through 9--316 have been satisfied. A security interest

is perfected when it attaches if the applicable requirements are

satisfied before the security interest attaches.

(b) Perfection of agricultural lien. An agricultural lien is perfected

if it has become effective and all of the applicable requirements for

perfection in Section 9--310 have been satisfied. An agricultural lien

is perfected when it becomes effective if the applicable requirements

are satisfied before the agricultural lien becomes effective.

(c) Continuous perfection; perfection by different methods. A security

interest or agricultural lien is perfected continuously if it is

originally perfected by one method under this article and is later

perfected by another method under this article, without an intermediate

period when it was unperfected.

(d) Supporting obligation. Perfection of a security interest in

collateral also perfects a security interest in a supporting obligation

for the collateral.

(e) Lien securing right to payment. Perfection of a security interest

in a right to payment or performance also perfects a security interest

in a security interest, mortgage, or other lien on personal or real

property securing the right.

(f) Security entitlement carried in securities account. Perfection of

a security interest in a securities account also perfects a security

interest in the security entitlements carried in the securities account.

(g) Commodity contract carried in commodity account. Perfection of a

security interest in a commodity account also perfects a security

interest in the commodity contracts carried in the commodity account.

(h) Cooperative organization security interest. A cooperative

organization security interest becomes perfected when the cooperative

interest first comes into existence and remains perfected so long as the

cooperative interest exists.