2006 New York Code - Perfection Of Security Interests In Property Subject To Certain Statutes, Regulations, And Treaties.

 
  Section 9--311. Perfection  of Security Interests in Property Subject to
                    Certain Statutes, Regulations, and Treaties.
    (a) Security interest  subject  to  other  law.  Except  as  otherwise
  provided  in  subsection (d), the filing of a financing statement is not
  necessary or effective  to  perfect  a  security  interest  in  property
  subject to:
             (1) a  statute,  regulation,  or  treaty of the United States
                 whose requirements for a  security  interest's  obtaining
                 priority  over the rights of a lien creditor with respect
                 to the property preempt Section 9--310(a);
             (2) a  certificate-of-title  statute   of   this   state   or
                 regulations  promulgated  thereunder,  to the extent such
                 statute or regulations provide for a security interest to
                 be indicated on the certificate as a condition or  result
                 of perfection; or
             (3) a  certificate-of-title  statute  of another jurisdiction
                 which provides for a security interest to be indicated on
                 the certificate as a condition or result of the  security
                 interest's  obtaining  priority over the rights of a lien
                 creditor with respect to the property.
    (b) Compliance with other law. Compliance with the requirements  of  a
  statute, regulation, or treaty described in subsection (a) for obtaining
  priority  over the rights of a lien creditor is equivalent to the filing
  of a  financing  statement  under  this  article.  Except  as  otherwise
  provided in subsection (d) and Sections 9--313 and 9--316(d) and (e) for
  goods covered by a certificate of title, a security interest in property
  subject  to a statute, regulation, or treaty described in subsection (a)
  may be perfected only by  compliance  with  those  requirements,  and  a
  security  interest  so  perfected  remains  perfected  notwithstanding a
  change in the use or transfer of possession of the collateral.
    (c) Duration and renewal of perfection. Except as  otherwise  provided
  in subsection (d) and Section 9--316(d) and (e), duration and renewal of
  perfection  of  a  security  interest  perfected  by compliance with the
  requirements prescribed by a statute, regulation, or treaty described in
  subsection (a) are governed by the statute, regulation,  or  treaty.  In
  other respects, the security interest is subject to this article.
    (d) Inapplicability  to  certain inventory. During any period in which
  collateral subject to  a  statute  specified  in  subsection  (a)(2)  is
  inventory held for sale or lease by a person or leased by that person as
  lessor and that person is in the business of selling goods of that kind,
  this  section  does  not apply to a security interest in that collateral
  created by that person.