페이지 이미지
PDF
ePub
[blocks in formation]

or bar the right to recover so much of the debt as shall not be
paid by the proceeds of the sale of the property.

ARTICLE VIII.

CHATTEL MORTGAGES.

[ocr errors][ocr errors][ocr errors]

SECTION 90. Chattel mortgage to be filed.

91. Corporate mortgages against real and personal property.
92. Where filed.
93. Filing and entry.
94. Fees.
95. Mortgage invalid after one year, unless statement is filed.
96. Duration of lien of mortgage on canal craft.
97. Copies to be evidence of certain facts.

98. Mortgage, how discharged of record.
§ 90. Chattel mortgage to be filed.—Every mortgage or con-
veyance intended to operate as a mortgage of goods and chattels,
or of any canal boat, steam tug, scow or other craft, or the appur-
tenances thereto, navigating the canals of the state, which is not
accompanied by an immediate delivery, and followed by an
actual and continued change of possession of the things mort-
gaged, is absolutely void as against the creditors of the mort.
gagor, and as against subsequent purchasers and mortgagees in
good faith, unless the mortgage, or a true copy thereof, is filed as
directed in this article. (As amended by chap. 248 of 1900.)

$ 91. Corporate mortgages against real and personal prop-
erty.--Mortgages creating a lien upon real and personal prop-
erty, executed by a corporation as security for the payment of
bonds issued by such corporation, or by any telegraph, telephone
or electric light corporation, and recorded as a mortgage of real
property in each county where such property is located, or
through which the line of such telegraph, telephone or electric
light corporation runs, need not be filed or refiled as chattel
mortgages.

$ 92. Where filed.-An instrument, or a true copy thereof, if intended to operate as a mortgage of a canal boat, steam tug, scow or other craft, or of the appurtenances thereto, navigating the canals of this state, must be filed in the office of the comptroller, and need not be filed elsewhere. Every other chattel mortgage, or an instrument intended to operate as such, or a true copy thereof, must be filed in the town or city where the mort. gagor, if a resident of the state, resides at the time of the execu

and 1901c.rig

[blocks in formation]

tion thereof, and if not a resident, in the city or town where the property mortgaged is, at the time of the execution of the mortgage. If there is more than one mortgagor, the mortgage, or a certified copy thereof, must be filed in each city or town within the state where each mortgagor resides at the time of the execution thereof. In the city of New York, such instrument must be filed as follows, to wit: in the borough of Brooklyn in said city such instruinent shall be filed in the office of the register of the county of Kings; in the borough of Queens in said city, in the office of the clerk of Queens county; in the borough of Richmond in said city, in the office of the clerk of the county of Richmond, and in the borough of Manhattan and the borough of the Bronx in said city, in the office of the register of the city and county of New York. In every other city or town of the state, in the office of the city or town clerk, unless there is a county clerk's office in such city or town, in which case it must be filed therein. (As amended by chap. 248 of 1900.)

of the chattels mortgaged are in the city of h. y at the time of the execution of the

mortgage, the image or aby opty therert must be filled in the county where the $ 93. Filing and entry. Such officers shall file every such instrument presented to them for that purpose, and indorse thereontorence at this tim

mtgor allegro its number and the time of its receipt. They shall enter in a book of the brecchino provided for that purpose, in separate columns, the names of all the mtge , in the parties to each mortgage so filed, arranged in alphabetical order, The County where under the head of “mortgagors” and “mortgagees," the number This of such mortgage or copy, and the date of the filing thereof; and, if

dituate ? the mortgage be upon a craft navigating the canals, and filed in the office of the comptroller, the name of the craft shall also be inserted. (As amended by chap. 248 of 1900.)

$ 94. Fees. -The several clerks and registers are entitled to receive for services hereunder the following fees: For filing each instrument, or copy, six cents; for entering the same as aforesaid, six cents; for searching for each paper, six cents; and the like fees for certified copies of such instruments or copies as are allowed by law to clerks of counties for copies and certificates of records kept by them. The comptroller is entitled to receive the following fees for services performed under this article, for the use of the state: For filing each instrument or copy and entering the same, twentyfive cents; for searching for each paper, twenty-five cents; and the like fees for certified copies of such instruments or copies, as are allowed by law to be charged by the comptroller for copies and certificates of records kept in his office. No officer is required to file or enter any such paper or furnish a copy thereof until his lawful fees are paid.

8 95. Mortgage invalid after one year, unless statement is filed.—A chattel mortgage, except as otherwise provided in this article, shall be invalid as against creditors of the mortgagor, and

[blocks in formation]

wire

against subsequent purchasers or mortgagees in good faith, after the expiration of the first or any succeeding term of one year, reckoning from the time of the first filing, unless,

1. Within thirty days next preceding the expiration of each such term a statement containing a description of such mortgage, the names of the parties, the time when and place where filed, the interest of the mortgagee or of any person who has succeeded to

his interest in the property claimed by virtue thereof, or amo 1901c219: 2. A copy of such mortgage and its endorsements, together The following aane with a statement attached thereto or endorsed thereon, showing Where the chattele mtyw the interest of the mortgagee or of any person who has succeeded located in the

to his interest in the mortgage, is filed in the proper office in the City of hy, at the time of the vecution of the mtga, city or town where the mortgagor then resided, if he is then a u coty of auch moguresident of the town or city where the mortgage or a copy dits indorsements, thereof or such statement was last filed ; if not such resident, but together with a statement

resident of the state, a true copy of such mortgage, together attached here to or Endorsed thereon, showing

with such statement, shall be filed in the proper office of the The nterest of the

town or city where he then resides; and if not a resident of the with fee or of any person state, then in the proper office of the city or town where the where in the hity property so mortgaged was at the time of the execution of the must be filed in the Soweithre tumortgage. Flugumpe mit go, go, column § 96. Duration of lien of mortgage on canal craft.—Every time the weetin mortgage upon a canal boat or other craft navigating the canal.

of this state, filed as provided in this article, shall be valid as against the creditors of the mortgagor and against subsequent purchasers or mortgagees in good faith as long as the debt which the mortgage secures is enforcible. From the time of filing every such mortgage shall have preference and priority over al other claims and liens not existing at the time of such filing.

$ 97. Copies to be evidence of certain facts.-A copy of any such original instrument, or of a copy thereof, including any state. ment relating thereto, certified by the officer with whom the same is filed, may be received in evidence, but only of the fact that such instrument, or copy, or statement was received and filed according to the endorsement thereon; and the original endorse ment upon such instrument or copy may be received in evidence only of the facts stated in such endorsement.

$ 98. Mortgage, how discharged of record.—Upon the pay ment or satisfaction of a chattel mortgage, the mortgagee, his assignee or legal representative, upon the request of the mortgagor or of any person interested in the mortgaged property, must sign

of the dane

[blocks in formation]

and acknowledge a certificate setting forth such payment or satisfaction. The officer with whom the mortgage, or a copy thereof is filed, must, on receipt of such certificate, file the same in his office, and write the word “discharged " in the book where the mortgage is entered, opposite the entry thereof, and the mortgage is thereby discharged.

ARTICLE IX.

CONTRACTS FOR THE CONDITIONAL SALE OF GOODS AND

CHATTELS.

SECTION 110. Definitions.

111. Conditional sale of railroad equipment and rolling stock.
112. Conditions and reservations in contracts for the sale of goods

and chattels.
113. Where contract to be filed.
114. Endorsement, entry, refiling and discharge of conditional con-

tracts.
115. Preceding sections not to apply to certain articles.
116. Sale of property retaken by vendor.
117. Notice of sale.
118. Disposition of proceeds.

§ 110. Definitions.—The term “ conditional vendor," when used in this article, means the person contracting to sell goods and chattels upon condition that the ownership thereof is to remain in such person, until such goods and chattels are fully paid for or til the occurrence of any future event or contingency; the term "conditional vendee,” when so used, means the person to whom such goods and chattels are so sold.

$ 111. Conditional sale of railroad equipment and rolling stock.-Whenever any railroad equipment and rolling stock is sold, leased or loaned under a contract which provides that the title to such property, notwithstanding the use and possession thereof by the vendee, lessee or bailee, shall remain in the vendor, lessor or bailor, until the terms of the contract as to the payment of installments, amounts or rentals payable, or the performance of other obligations thereunder, are fully complied with and that title to such property shall pass to the vendee, lessee or other bailee on full payment therefor, such contract shall be invalid as to any subsequent judgment creditor of or purchaser from such vendee, lessee or bailee for a valuable consideration, without notice, unless

[blocks in formation]

1. Such contract is in writing, duly acknowledged and recorded in the book in which real estate mortgages are recorded in the office of the county clerk or register of the county in which is located the principal office or place of business of such vendee, lessee or bailee; and unless

2. Each locomotive or car so sold, leased or loaned, has the name of the vendor, lessor or bailor, or of the assignee of such vendor, lessor or bailor, plainly marked upon both sides thereof, followed by the word owner, lessor, bailor or assignee, as the case

may be.

$ 112. Conditions and reservations in contracts for sale of goods and chattels.—Except as otherwise provided in this article, all conditions and reservations in a contract for the conditional sale of goods and chattels, accompanied by immediate delivery and continued possession of the thing contracted to be sold, to the effect that the ownership of such goods and chattels is to remain in the conditional vendor or in a person other than the conditional vendee, until they are paid for, or until the occurrence of a future event or contingency shall be void as against subsequent purchasers, pledgees or mortgagees in good faith, and as to them the sale shall be deemed absolute, unless such contract of sale, containing such conditions and reservations, or a true copy thereof be filed as directed in this article.

$ 113. Where contract to be filed.-Such contracts shall be filed in the city or town where the conditional vendee resides, if he resides within the state at the time of the execution thereof; and if not, in the city or town where such property is at such time. Such contract shall be filed, in the city of New York, as follows, to wit: In the borough of Brooklyn in said city, such instrument shall be filed in the office of the county of Kings; in the borough of Queens in said city, in the office of the clerk of Queens county; in the borough of Richmond in said city, in the office of the clerk of the county of Richmond, and in the borough of Manhattan and the borough of the Bronx in said city, in the office of the register of the city and county of New York; in every other city or town of the state, in the office of the city or town clerk, unless there be a county clerk's office in such city or town, when it shall be filed in such office. (As amended by chap. 248 of 1900.)

$ 114. Endorsement, entry, refiling and discharge of conditional contracts.—The provisions of the preceding article relating to chattel mortgages apply to the endorsement, entry, refiling and discharge of contracts for the conditional sale of goods and chattels. The officers with whom such contracts are filed shall enter the future contingency or event required to occur before the ownership of such goods and chattels shall pass from the vendor to the vendee, and the amount due upon such contract

« 이전계속 »