2006 New York Code - Sufficiency of Description



 
  Section 9--108. Sufficiency of Description.
    (a) Sufficiency  of  description.  Except  as  otherwise  provided  in
  subsections (c), (d),  and  (e),  a  description  of  personal  or  real
  property  is sufficient, whether or not it is specific, if it reasonably
  identifies what is described.
    (b) Examples  of  reasonable  identification.  Except   as   otherwise
  provided  in  Section  9--502  and  subsection  (d),  a  description  of
  collateral reasonably identifies the collateral  if  it  identifies  the
  collateral by:
         (1) specific listing;
         (2) category;
         (3) except  as  otherwise  provided  in subsection (e), a type of
             collateral defined in this chapter;
         (4) quantity;
         (5) computational or allocational formula or procedure; or
         (6) except as otherwise provided in  subsection  (c),  any  other
             method,  if  the  identity  of  the collateral is objectively
             determinable.
    (c) Supergeneric  description  not  sufficient.   A   description   of
  collateral  as  "all  the debtor's assets" or "all the debtor's personal
  property" or using words of similar import does not reasonably  identify
  the collateral.
    (d) Investment  property.  Except  as otherwise provided in subsection
  (e), a description of a security  entitlement,  securities  account,  or
  commodity account is sufficient if it describes:
         (1) the collateral by those terms or as investment property; or
         (2) the underlying financial asset or commodity contract.
    (e) When  description by type insufficient. A description only by type
  of collateral defined in this chapter is an insufficient description of:
         (1) a commercial tort claim;
         (2) in  a  consumer  transaction,  consumer  goods,  a   security
             entitlement, a securities account, or a commodity account; or
         (3) a cooperative interest.

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