2013 New York Consolidated Laws
PEN - Penal
Part 3 - SPECIFIC OFFENSES
Title K - OFFENSES INVOLVING FRAUD
Article 185 - (185.00 - 185.15) FRAUDS ON CREDITORS
185.05 - Fraud involving a security interest.

 
  § 185.05 Fraud involving a security interest.
    A person is guilty of fraud involving a security interest when, having
  executed  a  security agreement creating a security interest in personal
  property securing a monetary obligation owed to a secured party, and:
    1. Having under the security agreement both the right of sale or other
  disposition of the property and the duty to account to the secured party
  for the proceeds of disposition, he sells or otherwise disposes  of  the
  property  and  wrongfully  fails to account to the secured party for the
  proceeds of disposition; or
    2. Having under the security agreement  no  right  of  sale  or  other
  disposition  of  the  property,  he  knowingly  secretes,  withholds  or
  disposes of such property in violation of the security agreement.
    Fraud involving a security interest is a class A misdemeanor.