NY A03457

Adds new section 440.70 to the Criminal Procedure Law requiring courts to notify the New York Secretary of State when a person is convicted of intentionally filing a false UCC1 financing statement claiming fraudulent debt or obligation.

Court or court clerk must issue and file a certificate with the Secretary of State certifying the conviction against the defendant listed as the secured party in the false financing statement.

Certificate must specify the filing date and location, filing or indexing number, the debtor named in the statement, and a description of the collateral claimed in the false instrument.

Takes effect immediately upon enactment.