Section 55-9-710 – Repealed.
History: Laws 2001, ch. 139, § 154; repealed by Laws 2011, ch. 134, § 24. ANNOTATIONS Repeals. — Laws 2011, ch. 134, § 24 repealed NMSA 1978, as enacted by Laws 2001, ch. 139, § 154, relating to a temporary transition provision, effective July 1, 2011. For provisions of former section, see the 2010 NMSA […]
Section 55-9-706 – Temporary transition provision; 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 July 1, 2001 if: (1) the filing of an initial financing statement in that office would be effective to perfect a security interest under this act; (2) the pre-effective-date […]
Section 55-9-707 – Temporary transition provision; amendment of pre-effective-date financing statement.
(a) In this section, “pre-effective-date financing statement” means a financing statement filed before July 1, 2001. (b) After July 1, 2001, 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 accordance with the law of the […]
Section 55-9-708 – Temporary transition provision; persons entitled to file initial financing statement or continuation statement.
A person may file an initial financing statement or a continuation statement under Sections 145 through 152 of this act if: (1) the secured party of record authorizes the filing; and (2) the filing is necessary under Sections 145 through 153 of this act: (A) to continue the effectiveness of a financing statement filed before […]
Section 55-9-709 – Temporary transition provision; priority.
(a) This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, Chapter 55, Article 9 NMSA 1978 as it existed before that date determines priority. (b) For purposes of Subsection (a) of Section 55-9-322 NMSA 1978, the priority of a security […]
Section 55-9-701 – Effective date.
The effective date of the provisions of this act is July 1, 2001. History: Laws 2001, ch. 139, § 155. ANNOTATIONS OFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. A uniform law as complex as article 9 necessarily gives rise to […]
Section 55-9-702 – Saving clause.
(a) Except as otherwise provided in Sections 146 through 155 [55-9-701 to 55-9-710 NMSA 1978] of this act, its provisions apply to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2001. (b) Except as otherwise provided in Subsection (c) of this section […]
Section 55-9-703 – Temporary transition provision; security interest perfected before effective date.
(a) A security interest that is enforceable immediately before July 1, 2001 and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this act if, on July 1, 2001, the applicable requirements for enforceability and perfection under this act are satisfied […]
Section 55-9-704 – Temporary transition provision; security interest unperfected before effective date.
A security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (1) remains an enforceable security interest until midnight June 30, 2002; (2) remains enforceable on and after July 1, 2002 if the security interest becomes […]
Section 55-9-705 – Temporary transition provision; effectiveness of action taken before effective date.
(a) If action, other than the filing of a financing statement, is taken before July 1, 2001, and if the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor had the security interest become enforceable before that date, the action is effective to […]