N.Y. U.C.C. 9-709

Section 9--709. Priority.\n (a) Law governing priority. Revised Article 9 determines the priority\nof conflicting claims to collateral. However, if the relative priorities\nof the claims were established before Revised Article 9 takes effect,\nFormer Article 9 determines priority.\n (b) Priority if security interest becomes enforceable under Section\n9--203. For purposes of Section 9--322(a), the priority of a security\ninterest that becomes enforceable under Section 9--203 of Revised\nArticle 9 dates from the time Revised Article 9 takes effect if the\nsecurity interest is perfected under Revised Article 9 by the filing of\na financing statement before Revised Article 9 takes effect which would\nnot have been effective to perfect the security interest under Former\nArticle 9. This subsection does not apply to conflicting security\ninterests each of which is perfected by the filing of such a financing\nstatement.\n