New York State Assembly

Bill No.:  

 
•  Summary 
 
•  Actions 
 
•  Floor Votes 
 
•  Memo 
 
•  Text 

---

S00158 Summary:

BILL NO	S00158
SAME AS	No same as
SPONSOR	KRUGER
COSPNSR
MLTSPNSR
Amd S7-209, UCC
Provides that the warehouseman's lien under the uniform commercial code is superior to any other security interest and further provides that such lien attaches on the date the warehouse receipt covering the goods is issued by the warehouseman.

Go to top    

---

S00158 Actions:

BILL NO	S00158
01/07/2009	REFERRED TO JUDICIARY
01/06/2010	REFERRED TO JUDICIARY

Go to top

---

S00158 Floor Votes:

Go to top

---

S00158 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                           158
 
                               2009-2010 Regular Sessions
 
                    IN SENATE
 
                                       (Prefiled)
 
                                     January 7, 2009
                                       ___________
 
        Introduced  by  Sen.  KRUGER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Judiciary
 
        AN ACT to amend the uniform commercial code, in relation to the lien  of
          a warehouseman
 

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 7-209 of the uniform commercial code is amended  by
     2  adding a new subsection 5 to read as follows:
     3    (5) The lien provided by this section is superior to any other securi-
     4  ty  interest.    The  lien attaches as of the date the warehouse receipt
     5  covering the goods is issued by the warehouseman.
     6    § 2. Subsection 3 of section 7-209 of the uniform commercial  code  is
     7  amended to read as follows:
     8    (3)    A warehouseman's lien for charges and expenses under subsection
     9  (1) or a security  interest  under  subsection  (2)  is  also  effective
    10  against  any  person  who so entrusted the bailor with possession of the
    11  goods that a pledge of them by him to a good faith purchaser  for  value

    12  would  have been valid [but is not effective against a person as to whom
    13  the document confers no right in the goods covered by it  under  Section
    14  7--503].
    15    §  3.  This  act  shall  take  effect  on  the first of September next
    16  succeeding the date on which it shall have become a law.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02046-01-9

Go to top