(a) General effectiveness. Except as otherwise provided in this chapter, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (b) Applicable consumer laws and other law. A transaction subject to this article is subject to: (1) any applicable rule of law which establishes a different rule for consumers; (2) any other statute or regulation of this state which regulates the rates, charges, agreements and practices for loans, credit sales or other extensions of credit; (3) any consumer protection statute or regulation of this state. (c) Other applicable law controls. In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) has only the effect the statute or regulation specifies. (d) Further deference to other applicable law. This article does not: (1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in specifies. (d) Further deference to other applicable law. This article does not: (1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b); or (2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.
New York Legal Code