N.Y. Uniform Commercial Code Law § 9-337: Priority of Security Interests in Goods Covered by Certificate of Title

Section 9--337. Priority of Security Interests in Goods Covered by

Certificate of Title.

If, while a security interest in goods is perfected by any method

under the law of another jurisdiction, this state issues a certificate

of title that does not show that the goods are subject to the security

interest or contain a statement that they may be subject to security

interests not shown on the certificate:

(a) a buyer of the goods, other than a person in the business of

selling goods of that kind, takes free of the security interest if the

buyer gives value and receives delivery of the goods after issuance of

the certificate and without knowledge of the security interest; and

(b) the security interest is subordinate to a conflicting security

interest in the goods that attaches, and is perfected under Section

9--311 (b), after issuance of the certificate and without the

conflicting secured party's knowledge of the security interest.