N.Y. Uniform Commercial Code 9-522 – Maintenance and Destruction of Records
Section 9–522. Maintenance and Destruction of Records.
Terms Used In N.Y. Uniform Commercial Code 9-522
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Statute: A law passed by a legislature.
(a) Post-lapse maintenance and retrieval of information. The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under Section 9–515 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and:
(1) if the record was filed in the filing office described in
Section 9–501(a)(1), by using:
(A) the file number assigned to the initial financing
statement to which the record relates and the date and
time that the record was filed; and
(B) in the case of collateral which is a cooperative
interest, the real property tax designation associated
with the real property in which the cooperative unit is
located as assigned by the local real property tax
assessing authority; or
(2) if the record was filed in the filing office described in
Section 9–501(a)(2), by using the file number assigned to
the initial financing statement to which the record relates.
(b) Destruction of written records. Except to the extent that a statute governing disposition of public records provides otherwise, the filing office immediately may destroy any written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement which complies with subsection (a).