New York Uniform Commercial Code Law Section 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.

Last modified: February 3, 2019