N.Y. Uniform Commercial Code 9-606 – Time of Default for Agricultural Lien
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Section 9–606. Time of Default for Agricultural Lien.
Terms Used In N.Y. Uniform Commercial Code 9-606
- Lien: A claim against real or personal property in satisfaction of a debt.
- Statute: A law passed by a legislature.
For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.