This text of New York § 190 (Corporate mortgages against real and personal property) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 190. Corporate mortgages against real and personal property.
1.A\nmortgage creating a lien upon real and personal property, executed by a\ncorporation as security for the payment of bonds, notes or other\nevidences of indebtedness, issued by such corporation or any other\ncorporation, or executed by any telegraph, telephone, electric light,\nrailroad, street railway or omnibus corporation, and recorded as a\nmortgage of real property in each county where such real property is\nlocated or through which the line or route of such telegraph, telephone,\nelectric light, railroad, street railway or omnibus corporation runs,\nneed not be filed or refiled as a chattel mortgage or perfected by\nfiling in accordance with part five of article nine of the uniform\ncommercial code in any county wh
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§ 190. Corporate mortgages against real and personal property. 1. A\nmortgage creating a lien upon real and personal property, executed by a\ncorporation as security for the payment of bonds, notes or other\nevidences of indebtedness, issued by such corporation or any other\ncorporation, or executed by any telegraph, telephone, electric light,\nrailroad, street railway or omnibus corporation, and recorded as a\nmortgage of real property in each county where such real property is\nlocated or through which the line or route of such telegraph, telephone,\nelectric light, railroad, street railway or omnibus corporation runs,\nneed not be filed or refiled as a chattel mortgage or perfected by\nfiling in accordance with part five of article nine of the uniform\ncommercial code in any county where the mortgage is recorded, but filing\nin accordance with that part in the department of state only is required\nto perfect a security interest in the personal property or fixtures\ncovered by such a mortgage hereafter recorded.\n 2. When any such original mortgage provides or provided for the\ninclusion of property, either personal, or real and personal, thereafter\nacquired, a mortgage of such after-acquired property supplemental to\nsuch mortgage may be recorded as a mortgage of real property in each\ncounty where the original mortgage is recorded and in each county where\nsuch after-acquired real property is located and when so recorded need\nnot be filed or refiled as a chattel mortgage or perfected by filing in\naccordance with part five of article nine of the uniform commercial code\nin any county where both the original and the supplemental mortgage are\nrecorded, but filing in accordance with that part in the department of\nstate only is required to perfect a security interest in the personal\nproperty or fixtures covered by such a supplemental mortgage hereafter\nrecorded.\n 3. This section does not require the recording of a supplemental\nmortgage or filing in accordance with part five of article nine of the\nuniform commercial code in the department of state to perfect a mortgage\nof or security interest in after-acquired property when any such\noriginal mortgage provides or provided for the inclusion of such\nafter-acquired property and decisional law prior to the enactment or\namendment of this section, or of former section two hundred thirty-one\nof this chapter, recognized the validity or enforceability of such a\nprovision in such an original mortgage without the execution or\nrecording of a supplemental mortgage covering such after-acquired\nproperty, nor does section 9--311 of the uniform commercial code require\nthe perfection of a security interest in railway rolling stock under\nsection twenty-c of title forty-nine of the United States code (as added\nby the act of July sixteenth, nineteen hundred fifty-two, chapter eight\nhundred eighty-one, 66 Stat. 724) as now in force or as hereafter\namended.\n