Bill S6354-2011

Relates to the filing of a false financing statement

Relates to the filing of a false financing statement.

Details

Actions

  • May 16, 2012: SUBSTITUTED BY A3457
  • May 7, 2012: ADVANCED TO THIRD READING
  • May 2, 2012: 2ND REPORT CAL.
  • May 1, 2012: 1ST REPORT CAL.648
  • Jan 31, 2012: REFERRED TO CODES

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Codes - May 1, 2012
Ayes (15): Saland, DeFrancisco, Flanagan, Fuschillo, Gallivan, Golden, Lanza, Nozzolio, O'Mara, Gianaris, Duane, Huntley, Perkins, Squadron, Espaillat
Nays (1): Parker

Memo

BILL NUMBER:S6354

TITLE OF BILL: An act to amend the criminal procedure law, in relation to the filing of a false financing statement

PURPOSE OR GENERAL IDEA OF BILL: Amends the Criminal Procedure law to require a court to issue and file with the New York Secretary of State a certificate of conviction in cases where a defendant is convicted of a crime involving intentionally filing or causing to be filed a false financing statement under article nine of the uniform commercial code form UCC1 as well as certify that such defendant was listed as the secured party and specify the material filing information relating to such conviction, including the name of the debtor and description of collateral covered by the claim.

SUMMARY OF SPECIFIC PROVISIONS: Section 1 of the bill amends the Criminal Procedure law to require a court to issue and file with the New York Secretary of State a certificate of conviction in cases where a defendant is convicted of a crime involving intentionally filing or causing to be filed a false financing statement under article nine of the uniform commercial code form UCC1. Specifically, a court must certify that such defendant was listed as the secured party and specify the material filing information relating to such conviction, including the name of the debtor and description of collateral covered by the claim.

JUSTIFICATION: This bill provides a remedy for victims subject to false financing statements filed against them pursuant to article nine of the uniform commercial code UCC1 form which wrongfully claim that such victim is indebted or obligated to a defendant, or secured party, in a criminal action. The effect of a false financing statement can be damage to a victim's credit. Currently, when a victim believes a false financing statement has been filed against him or her, a victim can file a correction statement with the Secretary of State which records the UCC1 forms. This bill would assist victims in proving that a financing statement was bogus or false with a certification filed with the Secretary of State by a court where a conviction has been entered certifying that criminal conviction was entered against a particular defendant, or secured party, and the specific filing information related to the victim's false financing statement.

PRIOR LEGISLATIVE HISTORY: A.10572 of 2010.

FISCAL IMPLICATIONS:

None to New York State.

EFFECTIVE DATE: This act shall take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 6354 IN SENATE January 31, 2012 ___________
Introduced by Sen. GRISANTI -- read twice and ordered printed, and when printed to be committed to the Committee on Codes AN ACT to amend the criminal procedure law, in relation to the filing of a false financing statement THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The criminal procedure law is amended by adding a new section 440.70 to read as follows: S 440.70 NOTICE TO THE SECRETARY OF STATE WHEN FALSE FINANCING STATEMENT FILED. UPON CONVICTION OF ANY PERSON FOR A CRIME WHERE THE DEFENDANT INTEN- TIONALLY FILED OR CAUSED TO BE FILED A FINANCING STATEMENT PURSUANT TO ARTICLE NINE OF THE UNIFORM COMMERCIAL CODE ON FORM UCC1 THAT FALSELY CLAIMS THAT A PERSON IS INDEBTED OR OBLIGATED TO SUCH DEFENDANT, THE COURT WHEREIN SUCH CONVICTION IS ENTERED, OR THE CLERK THEREOF, SHALL ISSUE AND CAUSE TO BE FILED A CERTIFICATE WITH THE NEW YORK SECRETARY OF STATE: (A) CERTIFYING THAT A JUDGMENT OF CONVICTION HAS BEEN ENTERED IN SUCH COURT AGAINST THE DEFENDANT WHO WAS LISTED AS THE SECURED PARTY IN SUCH FORM; AND (B) SPECIFYING THE DATE AND LOCATION OF THE FILING, ANY FILING OR INDEXING NUMBER ASSIGNED TO SUCH FILING, THE DEBTOR NAMED IN SUCH STATEMENT, AND A DESCRIPTION OF THE COLLATERAL ENCUMBERED BY THE INSTRUMENT. S 2. This act shall take effect immediately.

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