New York Uniform Commercial Code Law Section 9-505 - Filing and Compliance with Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions

Section 9--505. Filing  and  Compliance with Other Statutes and Treaties
                for Consignments, Leases, Other Bailments,  and  Other
                Transactions.
(a) Use of terms other than "debtor" and "secured party." A consignor,
  lessor,  or  other  bailor of goods, a licensor, or a buyer of a payment
  intangible or promissory note may file a  financing  statement,  or  may
  comply  with  a  statute or treaty described in Section 9--311(a), using
  the  terms  "consignor",  "consignee",  "lessor",  "lessee",   "bailor",
  "bailee",  "licensor", "licensee", "owner", "registered owner", "buyer",
  "seller", or words of similar import,  instead  of  the  terms  "secured
  party" and "debtor".
(b) Effect  of  financing  statement  under  subsection (a). This part
  applies to the filing of a financing statement under subsection (a) and,
  as appropriate, to compliance that is equivalent to filing  a  financing
  statement  under  Section 9--311(b), but the filing or compliance is not
  of itself a factor in determining  whether  the  collateral  secures  an
  obligation.  If  it is determined for another reason that the collateral
  secures an obligation,  a  security  interest  held  by  the  consignor,
  lessor,  bailor,  licensor,  owner,  or  buyer  which  attaches  to  the
  collateral is perfected by the filing or compliance.

Last modified: February 3, 2019