New York § 8-511 Priority Among Security Interests and Entitlement Holders

New York Statutes

§ 8-511 — Priority Among Security Interests and Entitlement Holders

New York § 8-511

Law UCCUniform Commercial Code

Part 5Security Entitlements

Art. 8Investment Securities

This text of New York § 8-511 (Priority Among Security Interests and Entitlement Holders) 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.

Bluebook

N.Y. Uniform Commercial Code § 8-511 (2026).

Text

Section 8--511. Priority Among Security Interests and Entitlement\n                  Holders.\n  (a) Except as otherwise provided in subsections (b) and (c), if a\nsecurities intermediary does not have sufficient interests in a\nparticular financial asset to satisfy both its obligations to\nentitlement holders who have security entitlements to that financial\nasset and its obligation to a creditor of the securities intermediary\nwho has a security interest in that financial asset, the claims of\nentitlement holders, other than the creditor, have priority over the\nclaim of the creditor.\n  (b) A claim of a creditor of a securities intermediary who has a\nsecurity interest in a financial asset held by a securities intermediary\nhas priority over claims of the securities intermediary's entit

Free access — add to your briefcase to read the full text and ask questions with AI

Section 8--511. Priority Among Security Interests and Entitlement\n Holders.\n (a) Except as otherwise provided in subsections (b) and (c), if a\nsecurities intermediary does not have sufficient interests in a\nparticular financial asset to satisfy both its obligations to\nentitlement holders who have security entitlements to that financial\nasset and its obligation to a creditor of the securities intermediary\nwho has a security interest in that financial asset, the claims of\nentitlement holders, other than the creditor, have priority over the\nclaim of the creditor.\n (b) A claim of a creditor of a securities intermediary who has a\nsecurity interest in a financial asset held by a securities intermediary\nhas priority over claims of the securities intermediary's entitlement\nholders who have security entitlements with respect to that financial\nasset if the creditor has control over the financial asset.\n (c) If a clearing corporation does not have sufficient financial\nassets to satisfy both its obligations to entitlement holders who have\nsecurity entitlements with respect to a financial asset and its\nobligation to a creditor of the clearing corporation who has a security\ninterest in that financial asset, the claim of the creditor has priority\nover the claims of entitlement holders.\n