Statute · New York Uniform Commercial Code
N.Y. U.C.C. Law § 9-306b — Law Governing Perfection and Priority of Security Interests in Controllable Accounts, Controllable Electronic Records, and Controllable P...
N.Y. U.C.C. Law § 9-306b
- Type
- Statute
- Source
- New York Uniform Commercial Code
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
Section 9-306B. Law Governing Perfection and Priority of Security
Citator
N.Y. U.C.C. Law § 9-306b — Law Governing Perfection and Priority of Security Interests in Controllable Accounts, Controllable Electronic Records, and Controllable P... is in force in the current edition of the Code, and nothing recorded condemns it.
Section 9-306B. Law Governing Perfection and Priority of Security
Interests in Controllable Accounts, Controllable
Electronic Records, and Controllable Payment
Intangibles.
(a) Governing law: general rules. Except as provided in subsection (b), the local law of the controllable electronic record's jurisdiction specified in Section 12--107(c) and (d) governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a controllable electronic record and a security interest in a controllable account or controllable payment intangible evidenced by the controllable electronic record.
(b) When perfection governed by law of jurisdiction where debtor located. The local law of the jurisdiction in which the debtor is located governs:
(1) perfection of a security interest in a controllable account, controllable electronic record, or controllable payment intangible by filing; and
(2) automatic perfection of a security interest in a controllable payment intangible created by a sale of the controllable payment intangible.