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This entry was published on 2014-09-22
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Perfection of security interests
Education (EDN) CHAPTER 16, TITLE 7, ARTICLE 125
§ 6234. Perfection of security interests. If made in connection with
the design, construction, acquisition, reconstruction, rehabilitation,
lease, improvement, operation, maintenance, furnishing or equipping of
community or senior college facilities, any pledge of or other security
interest in moneys, earnings, income, revenues, accounts, contract
rights, general intangibles or other personal property, or any other
resources held, made or created by the city university or on its behalf
by any duly authorized officer, employee or agent thereof, or by any
other person to secure such person's obligations to the city university,
shall be valid, binding and perfected from the time when such pledge or
other security interest attaches, without any physical delivery of the
collateral or further act. The lien of any such pledge or other security
interest shall be valid, binding and perfected as against all parties
having claims of any kind in tort, contract or otherwise against the
city university irrespective of whether or not such parties have notice
thereof. No instrument by which such a pledge or security interest is
created nor any financing statement need be recorded or filed. This
section shall apply notwithstanding the provisions of the uniform
commercial code.