Legislation

* § 604-dd. Application to secured debt. 1. Except with respect to
section six hundred four-ee of this article, this article shall not
apply to debts secured by real property.

2. Section six hundred four-bb of this article and the cause of action
authorized by subdivision one of section six hundred four-cc of this
article shall not apply to debts secured by personal property.

3. For debts secured by personal property, the affirmative defense
authorized by section six hundred four-cc of this article shall not
affect the creditor's right to enforce any security interest upon
default of the financing and security agreement under article nine of
the uniform commercial code including, but not limited to, repossession
or voluntary surrender of the subject personal property or seeking and
obtaining a court order to retake the subject personal property. The
affirmative defense shall affect only the coerced debtor's liability for
any deficiency after the repossession or surrender and disposition of
the subject collateral.

* NB Effective June 17, 2026