Section 55-12-109 – Saving clause.
(a) Chapter 55, Article 8 NMSA 1978 does not affect an action or proceeding commenced before that article takes effect. (b) If a security interest in a security is perfected at the date Chapter 55, Article 8 NMSA 1978 takes effect and the action by which the security interest was perfected would suffice to perfect […]
Section 55-12-110 – Temporary provision; effectiveness.
This act applies to a document of title that is issued or a bailment that arises on or after the effective date of this act. This act does not apply to a document of title that is issued or a bailment that arises before the effective date of this act even if the document of […]
Section 55-12-111 – Temporary provision; effectiveness.
A. A document of title issued or a bailment that arises before the effective date of this act and the rights, obligations and interests flowing from that document or bailment are governed by any statute or other rule amended or repealed by this act as if amendment or repeal had not occurred and may be […]
Section 55-12-105 – Transition provision on change of place of filing.
(1) A financing statement or continuation statement filed prior to January 1, 1986 which shall not have lapsed prior to January 1, 1986 shall remain effective for the period provided in the old U.C.C., but not less than five years after the filing. (2) An effective financing statement or continuation statement filed before January 1, […]
Section 55-12-106 – Required refilings.
(1) If a security interest is perfected or has priority when this act takes effect as to all persons or as to certain persons without any filing or recording, and if the filing of a financing statement would be required for the perfection or priority of the security interest against those persons under the new […]
Section 55-12-107 – Transition provisions as to priorities.
Except as otherwise provided in Article 12 [55-12-101 to 55-12-108 NMSA 1978], the old U.C.C. shall apply to any questions of priority if the positions of the parties were fixed prior to January 1, 1986. In other cases questions of priority shall be determined by the new U.C.C. History: 1978 Comp., § 55-12-107, enacted by […]
Section 55-12-108 – Presumption that rule of law continues unchanged.
Unless a change in law has clearly been made, the provisions of the new U.C.C. shall be deemed declaratory of the meaning of the old U.C.C. History: 1978 Comp., § 55-12-108, enacted by Laws 1985, ch. 193, § 46. ANNOTATIONS Cross references. — For definition of “old UCC” and “new UCC,” see 55-12-101 NMSA 1978. […]
Article 10 – Effective Date, Repealer and Miscellaneous
ANNOTATIONS Compiler’s notes. — Section 10-101 of ch. 96, Laws 1961 provides: “This act shall become effective at midnight on December 31st following its enactment. It applies to transactions entered into and events occurring after that date.” Approved March 23, 1961. Section 10-102 of ch. 96, Laws 1961 provides: “(1) The following acts and all […]
Article 11 – Amendment to Other Statutes
ANNOTATIONS Compiler’s notes. — Laws 1961, ch. 96, §§ 11-101 to 11-118 purported to enact Article 11 of the Uniform Commercial Code. In fact, those sections merely amend sections which are now designated as 6-12-12, 14-8-4, 14-11-10, 38-7-1, 42-9-17, 48-3-7, 48-7-1, 56-5-1 to 56-5-4, 56-6-1, 56-6-3, 56-6-6 to 56-6-8 NMSA 1978.
Section 55-9-806 – When initial financing statement suffices to continue effectiveness of financing statement.
(a) The filing of an initial financing statement in the office specified in Section 55-9-501 NMSA 1978 continues the effectiveness of a financing statement filed before this 2013 act takes effect if: (1) the filing of an initial financing statement in that office would be effective to perfect a security interest under Chapter 55, Article […]