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. […]
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 55-9-807 – Amendment of pre-effective-date financing statement.
(a) As used in this section, “pre-effective-date financing statement” means a financing statement filed before this 2013 act takes effect. (b) After this 2013 act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in […]
Section 55-9-808 – Person entitled to file initial financing statement or continuation statement.
A person may file an initial financing statement or a continuation statement under this part if: (a) the secured party of record authorizes the filing; and (b) the filing is necessary under this part: (1) to continue the effectiveness of a financing statement filed before this 2013 act takes effect; or (2) to perfect or […]
Section 55-9-809 – Priority.
This 2013 act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims are established before this 2013 act takes effect, Chapter 55, Article 9 NMSA 1978, as it existed before amendment, determines priority. History: 1978 Comp., § 55-9-809, enacted by Laws 2013, ch. 137, § 28. ANNOTATIONS Effective […]