N.Y. Veh. & Traf. Law § 2119

§ 2119. Security interest. If an owner creates a security interest in\na vehicle:\n (a) The owner shall, if the lienholder so requests, execute the\napplication, in the space provided therefor on the certificate of title\nor on a separate form the commissioner prescribes, to name the\nlienholder on the certificate, showing the name and address of the\nlienholder, and cause the certificate, application and the required fee\nto be delivered to the lienholder.\n (b) The lienholder shall, immediately after the owner complies with\nsubdivision (a), cause the certificate, application and the required fee\nto be mailed or delivered to the commissioner.\n (c) Upon receipt of the certificate of title, application and the\nrequired fee, the commissioner shall either endorse on the certificate,\nor issue a new certificate containing, the name and address of the new\nlienholder, and mail the certificate to the owner.\n