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Sponsors
No co-sponsors yet.
History
- Referred to codes
- Delivered to senate
- Passed assembly
- Advanced to third reading cal.799
- Reported
- Referred to codes
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10572
Title of bill
An act to amend the criminal procedure law, in relation to the filing of a false financing statement
Purpose
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 Crimi- nal 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 defend- ant 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 financ- ing 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 state- ment 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
New Bill
Fiscal implications
None
Effective date
Immediately
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.