N.Y.
Lien Law Section 190
Corporate mortgages against real and personal property
1.
A mortgage creating a lien upon real and personal property, executed by a corporation as security for the payment of bonds, notes or other evidences of indebtedness, issued by such corporation or any other corporation, or executed by any telegraph, telephone, electric light, railroad, street railway or omnibus corporation, and recorded as a mortgage of real property in each county where such real property is located or through which the line or route of such telegraph, telephone, electric light, railroad, street railway or omnibus corporation runs, need not be filed or refiled as a chattel mortgage or perfected by filing in accordance with part five of article nine of the uniform commercial code in any county where the mortgage is recorded, but filing in accordance with that part in the department of state only is required to perfect a security interest in the personal property or fixtures covered by such a mortgage hereafter recorded.2.
When any such original mortgage provides or provided for the inclusion of property, either personal, or real and personal, thereafter acquired, a mortgage of such after-acquired property supplemental to such mortgage may be recorded as a mortgage of real property in each county where the original mortgage is recorded and in each county where such after-acquired real property is located and when so recorded need not be filed or refiled as a chattel mortgage or perfected by filing in accordance with part five of article nine of the uniform commercial code in any county where both the original and the supplemental mortgage are recorded, but filing in accordance with that part in the department of state only is required to perfect a security interest in the personal property or fixtures covered by such a supplemental mortgage hereafter recorded.3.
This section does not require the recording of a supplemental mortgage or filing in accordance with part five of article nine of the uniform commercial code in the department of state to perfect a mortgage of or security interest in after-acquired property when any such original mortgage provides or provided for the inclusion of such after-acquired property and decisional law prior to the enactment or amendment of this section, or of former section two hundred thirty-one of this chapter, recognized the validity or enforceability of such a provision in such an original mortgage without the execution or recording of a supplemental mortgage covering such after-acquired property, nor does section 9--311 of the uniform commercial code require the perfection of a security interest in railway rolling stock under section twenty-c of title forty-nine of the United States code (as added by the act of July sixteenth, nineteen hundred fifty-two, chapter eight hundred eighty-one, 66 Stat. 724) as now in force or as hereafter amended.
Source:
Section 190 — Corporate mortgages against real and personal property, https://www.nysenate.gov/legislation/laws/LIE/190 (updated Sep. 22, 2014; accessed Dec. 21, 2024).
