N.Y. Vehicle and Traffic Law 2103 – Excepted liens and security interests; buyer from manufacturer or dealer
§ 2103. Excepted liens and security interests; buyer from manufacturer or dealer. This article does not apply to or affect:
Terms Used In N.Y. Vehicle and Traffic Law 2103
- Dealer: means a person registered as a dealer under section four hundred fifteen or twenty-two hundred fifty-seven of this chapter. See N.Y. Vehicle and Traffic Law 2101
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: means a natural person, firm, co-partnership, association or corporation. See N.Y. Vehicle and Traffic Law 2101
- Security interest: means an interest in a vehicle reserved or created by agreement and which secures payment or performance of an obligation. See N.Y. Vehicle and Traffic Law 2101
- State: means a state, territory or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or a province of the Dominion of Canada. See N.Y. Vehicle and Traffic Law 2101
- Statute: A law passed by a legislature.
- Vehicle: means a vehicle as defined in section one hundred fifty-nine of this chapter except that it shall not include a device for which a registration is denied pursuant to section four hundred-a of this chapter and, except with respect to section twenty-one hundred two of this article, shall also mean a vessel as defined in section twenty-two hundred fifty of this chapter. See N.Y. Vehicle and Traffic Law 2101
(a) A lien given by statute or rule of law to a supplier of services or materials for the vehicle;
(b) A lien given by statute to the United States, this state, or any political subdivision of this state except for liens arising pursuant to § 211 of the lien law and § 111-u of the social services law;
(c) A security interest in a vehicle created by a manufacturer or dealer who holds the vehicle for sale as distinguished from a person who holds the vehicle for lease, but a buyer in ordinary course of business from a manufacturer or a dealer who holds the vehicle for sale, whether or not he may have held it for lease, takes free of any security interest created by him in the vehicle.
(d) A security interest in a vehicle acquired by the state of New York and financed by certificates of participation pursuant to Article 5-A of the state finance law.