Section 55-9-516 – What constitutes filing; effectiveness of filing.
(a) Except as otherwise provided in Subsection (b) of this section, communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing. (b) Filing does not occur with respect to a record that the secretary of state refuses to accept because: […]
Section 55-9-517 – Effect of indexing errors.
The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. History: 1978 Comp., § 55-9-517, enacted by Laws 2001, ch. 139, § 88. ANNOTATIONS OFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights […]
Section 55-9-518 – Claim concerning inaccurate or wrongfully filed record.
(a) A person may file in the filing office an information statement with respect to a record indexed there under the person’s name if the person believes that the record is inaccurate or was wrongfully filed. (b) An information statement under Subsection (a) of this section must: (1) identify the record to which it relates […]
Section 55-9-519 – Numbering, maintaining and indexing records; communicating information provided in records.
(a) For each record filed in a filing office, the filing office shall: (1) assign a unique number to the filed record; (2) create a record that bears the number assigned to the filed record and the date and time of filing; and (3) maintain the filed record for public inspection. (b) The filing office […]
Section 55-9-502 – Contents of financing statement; record of mortgage as financing statement; time of filing financing statement.
(a) Subject to Subsection (b) of this section, a financing statement is sufficient only if it: (1) provides the name of the debtor; (2) provides the name of the secured party or a representative of the secured party; and (3) indicates the collateral covered by the financing statement. (b) Except as otherwise provided in Subsection […]
Section 55-9-409 – Restrictions on assignment of letter-of-credit rights ineffective.
(a) A term in a letter of credit or a rule of law, statute, regulation, custom or practice applicable to the letter of credit which prohibits, restricts or requires the consent of an applicant, issuer or nominated person to a beneficiary’s assignment of or creation of a security interest in a letter-of-credit right is ineffective […]
Section 55-9-501 – Filing office.
(a) Except as otherwise provided in Subsection (b) of this section, if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is: (1) the office of the county clerk where a record […]
Section 55-9-341 – Bank’s rights and duties with respect to deposit account.
Except as otherwise provided in Subsection (c) of Section 55-9-340 NMSA 1978, and unless the bank otherwise agrees in an authenticated record, a bank’s rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended or modified by: (1) the creation, attachment or perfection of a security interest in […]
Section 55-9-342 – Bank’s right to refuse to enter into or disclose existence of control agreement.
Chapter 55, Article 9 NMSA 1978 does not require a bank to enter into an agreement of the kind described in Paragraph (2) of Subsection (a) of Section 55-9-104 NMSA 1978, even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence […]
Section 55-9-401 – Alienability of debtor’s rights.
(a) Except as otherwise provided in Subsection (b) of this section and Sections 55-9-406 through 55-9-409 NMSA 1978, whether a debtor’s rights in collateral may be voluntarily or involuntarily transferred is governed by law other than Chapter 55, Article 9 NMSA 1978. (b) An agreement between the debtor and secured party which prohibits a transfer […]