§1746. Perfection of security interests in cooperative interests
1.Creation of security interest.
Security interests in shares of cooperative affordable housing corporations may
be created, perfected and enforced in the same manner as security interests in certificated
securities under Title 11, Articles 8-A and 9-A. A lender may perfect such a security
interest by possession of shares or by any other method under which security interests
in certificated securities may be perfected pursuant to Title 11, Article 8-A.
1999, c. 699, Pt. D, §9 (AMD);
1999, c. 699, Pt. D, §30 (AFF)
2.Notation of secured party.
Upon the request of a secured party, a cooperative affordable housing corporation
shall note on its books and records the interest of the secured party in a cooperative
interest. Such a request or notation is not required to perfect a security interest
in a cooperative interest.
1993, c. 300, §1 (NEW)
1993, c. 300, §1 (NEW).
1999, c. 699, §D9 (AMD).
1999, c. 699, §D30 (AFF).
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