2006 New York Code - Laws Repealed; Provision For Transition.

 
  Section 13--102. Laws Repealed; Provision for Transition.
    (1)  Of  the  laws enumerated in the schedule hereto annexed following
  Section 10-105 of this  Act  and  subject  to  the  provisions  of  this
  Article, that portion specified in the last column is hereby REPEALED.
    (2)  Transactions  validly  entered  into  before  the  effective date
  specified in Section 10-105 of this  Act  and  the  rights,  duties  and
  interests   flowing  from  them  remain  valid  thereafter  and  may  be
  terminated, completed, consummated or enforced as required or  permitted
  by  any  statute or other law repealed or modified by this Act as though
  such repeal or modification had not occurred;  provided,  however,  that
  the  perfection  of a security interest, as defined in this Act (Section
  1-201) and however denominated in any law repealed or modified  by  this
  Act,
         (a) which  was  perfected when this Act takes effect by a filing,
             refiling or recording under a law repealed by  this  Act  and
             requiring a further filing, refiling or recording to continue
             its  perfection,  continues  until and will lapse on the date
             provided by the law so  repealed  for  such  further  filing,
             refiling or recording;
         (b) which  was  perfected when this Act takes effect by a filing,
             refiling or recording under a law repealed by  this  Act  and
             requiring   no  further  filing,  refiling  or  recording  to
             continue its  perfection,  continues  until  and  will  lapse
             twelve months after the date this Act takes effect;
         (c) which  was  perfected  when this Act takes effect without any
             filing, refiling or recording,  and  for  the  perfection  of
             which  the  filing of a financing statement would be required
             if this Act applied, continues until and  will  lapse  twelve
             months  after  this Act takes effect if the security interest
             is in accounts or, otherwise, thirty-six  months  after  this
             Act  takes  effect;  unless,  in  each  case,  a continuation
             statement is filed by the secured party before the perfection
             of the security interest  would  otherwise  lapse.  Any  such
             continuation  statement  must be signed by the secured party,
             identify the security agreement, statement or notice, however
             denominated in any statute or other law repealed or  modified
             by  this  Act,  state  the office where and the date when the
             last filing, refiling or recording, if  any,  was  made  with
             respect  thereto,  and the filing number, if any, or book and
             page, if  any,  of  recording  and  further  state  that  the
             security agreement, statement or notice, however, denominated
             in any statute or other law repealed or modified by this Act,
             is  still  effective.  Section  9--501  determines the proper
             place to  file  such  a  continuation  statement.  Except  as
             specified  in  this subsection and except that the perfection
             of the security interest will  lapse  five  years  after  the
             filing  of  a  continuation statement in accordance with this
             subsection unless another  continuation  statement  is  filed
             within  six  months  prior  to  such lapse, the provisions of
             Section 9--515 apply to such a continuation statement.
    (3) Notwithstanding subsection (2):
         (a) The perfection of a security interest, however denominated in
             any law repealed by this Act, which was perfected  when  this
             Act  takes  effect by a filing, refiling or recording under a
             law repealed by this Act, and for the perfection of which, if
             this Act applied, no filing of a financing statement would be
             required, continues under this Act.
         (b) A security interest, however denominated in any law  repealed
             by  this  Act,  which  was  not perfected when this Act takes
             effect but which could have been perfected  before  this  Act
             takes  effect  by a filing, refiling or recording under a law
             repealed  by  this Act, and which, if this Act applied, could
             be perfected by the filing of  a  financing  statement  under
             this  Act,  may  be  perfected  by  the filing of a financing
             statement in accordance with this Act.
         (c) A security interest, however denominated in any law  repealed
             or  modified  by  this Act, which was not perfected when this
             Act takes effect but which could have been  perfected  before
             this   Act   takes  effect  by  the  secured  party's  taking
             possession of the collateral under a law repealed or modified
             by this Act,  and  which,  if  this  Act  applied,  could  be
             perfected  by  the  secured  party's taking possession of the
             collateral, may be perfected by the  secured  party's  taking
             possession of the collateral in accordance with this Act.
         (d) A  continuation statement heretofore filed in accordance with
             subsection (2) except for having been filed more than  twelve
             months  before  the perfection of the security interest would
             otherwise lapse  shall  be  deemed  to  have  been  filed  in
             accordance with subsection (2).
         (e) A  security  interest  which was perfected when this Act took
             effect and the perfection of which was or is continued by the
             filing  of  a  continuation  statement  in  accordance   with
             subsection  (2)  is  a  perfected  security  interest for the
             purposes of Section 9--310.
         (f) After  September  first,  nineteen  hundred  sixty-five,   no
             further  filing  shall be made in accordance with any statute
             repealed by this Act with  respect  to  a  security  interest
             perfected   when   this  Act  takes  effect,  except  that  a
             certificate of payment or other satisfaction or discharge  of
             a  conditional  sale  contract or a certificate of payment or
             satisfaction of a chattel mortgage may be filed in accordance
             with section seventy-two of  the  personal  property  law  or
             section   two   hundred   thirty-eight   of   the  lien  law,
             respectively, both repealed by this Act.