Section 9--109. Scope.\n (a) General scope of article. Except as otherwise provided in\nsubsections (c) and (d), this article applies to:\n (1) a transaction, regardless of its form, that creates a\n security interest in personal property or fixtures by\n contract;\n (2) an agricultural lien;\n (3) a sale of accounts, chattel paper, payment intangibles, or\n promissory notes;\n (4) a consignment;\n (5) a security interest arising under Section 2--401, 2--505,\n 2--711(3), or 2-A-508(5), as provided in Section 9--110;\n (6) a security interest arising under Section 4--210 or 5--118;\n and\n (7) a security interest in a cooperative interest.\n (b) Security interest in secured obligation. The application of this\narticle to a security interest in a secured obligation is not affected\nby the fact that the obligation is itself secured by a transaction or\ninterest to which this article does not apply.\n (c) Extent to which article does not apply. This article does not\napply to the extent that:\n (1) a statute, regulation, or treaty of the United States\n preempts this article;\n (2) another statute of this State expressly governs the creation,\n perfection, priority, or enforcement of a security interest\n created by this state or a governmental unit of this state;\n (3) a statute of another state, a foreign country, or a\n governmental unit of another state or a foreign country,\n other than a statute generally applicable to security\n interests, expressly governs creation, perfection, priority,\n or enforcement of a security interest created by the state,\n country, or governmental unit; or\n (4) the rights of a transferee beneficiary or nominated person\n under a letter of credit are independent and superior under\n Section 5--114.\n (d) Inapplicability of article. This article does not apply to:\n (1) a landlord's lien, other than an agricultural lien, or a\n security interest in a cooperative interest;\n (2) a lien, other than an agricultural lien, given by statute or\n other rule of law for services or materials, but Section\n 9--333 applies with respect to priority of the lien;\n (3) an assignment of a claim for wages, salary, or other\n compensation of an employee;\n (4) a sale of accounts, chattel paper, payment intangibles, or\n promissory notes as part of a sale of the business out of\n which they arose;\n (5) an assignment of accounts, chattel paper, payment\n intangibles, or promissory notes which is for the purpose of\n collection only;\n (6) an assignment of a right to payment under a contract to an\n assignee that is also obligated to perform under the\n contract;\n (7) an assignment of a single account, payment intangible, or\n promissory note to an assignee in full or partial\n satisfaction of a preexisting indebtedness;\n (8) a transfer of an interest in or an assignment of a claim\n under a policy of insurance or contract for an annuity\n including a variable annuity other than an assignment by or\n to a health-care provider of a health-care-insurance\n receivable and any subsequent assignment of the right to\n payment, but Sections 9--315 and 9--322 apply with respect to\n proceeds and priorities in proceeds;\n (9) an assignment of a right represented by a judgment, other\n than a judgment taken on a right to payment that was\n collateral;\n (10) a right of recoupment or set-off, but:\n (A) Section 9--340 applies with respect to the effectiveness\n of rights of recoupment or set-off against deposit\n a
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.