§ 6234 — Perfection of security interests

§ 6234. Perfection of security interests. If made in connection with\nthe design, construction, acquisition, reconstruction, rehabilitation,\nlease, improvement, operation, maintenance, furnishing or equipping of\ncommunity or senior college facilities, any pledge of or other security\ninterest in moneys, earnings, income, revenues, accounts, contract\nrights, general intangibles or other personal property, or any other\nresources held, made or created by the city university or on its behalf\nby any duly authorized officer, employee or agent thereof, or by any\nother person to secure such person's obligations to the city university,\nshall be valid, binding and perfected from the time when such pledge or\nother security interest attaches, without any physical delivery of the\ncollateral or further act. The lien of any such pledge or other security\ninterest shall be valid, binding and perfected as against all parties\nhaving claims of any kind in tort, contract or otherwise against the\ncity university irrespective of whether or not such parties have notice\nthereof. No instrument by which such a pledge or security interest is\ncreated nor any financing statement need be recorded or filed. This\nsection shall apply notwithstanding the provisions of the uniform\ncommercial code.\n