Section 55-9-309 – Security interest perfected upon attachment.
The following security interests are perfected when they attach: (1) a purchase-money security interest in consumer goods, except as otherwise provided in Subsection (b) of Section 55-9-311 NMSA 1978 with respect to consumer goods that are subject to a statute or treaty described in Subsection (a) of Section 55-9-311 NMSA 1978; (2) an assignment of […]
Section 55-9-301 – Law governing perfection and priority of security interests.
Except as otherwise provided in Sections 55-9-303 through 55-9-306 NMSA 1978, the following rules determine the law governing perfection, the effect of perfection or nonperfection and the priority of a security interest in collateral: (1) except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that […]
Section 55-9-302 – Law governing perfection and priority of agricultural liens.
While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection and the priority of an agricultural lien on the farm products. History: 1978 Comp., § 55-9-302, enacted by Laws 2001, ch. 139, § 22. ANNOTATIONS OFFICIAL COMMENTS UCC Official Comments by ALI & […]
Section 55-9-308 – When security interest or agricultural lien is perfected; continuity of perfection.
(a) Except as otherwise provided in this section and Section 55-9-309 NMSA 1978, a security interest is perfected if it has attached and all of the applicable requirements for perfection in Sections 55-9-310 through 55-9-316 NMSA 1978 have been satisfied. A security interest is perfected when it attaches if the applicable requirements are satisfied before […]
Section 55-9-109 – Scope.
(a) Except as otherwise provided in Subsections (c) and (d) of this section, Chapter 55, Article 9 NMSA 1978 applies to: (1) a transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract; (2) an agricultural lien; (3) a sale of accounts, chattel paper, payment intangibles or promissory […]
Section 55-9-110 – Security interests arising under Chapter 55, Article 2 or 2A NMSA 1978.
A security interest arising under Section 55-2-401, 55-2-505, Subsection (3) of Section 55-2-711 or Subsection (5) of Section 55-2A-508 NMSA 1978 is subject to Chapter 55, Article 9 NMSA 1978. However, until the debtor obtains possession of the goods: (1) the security interest is enforceable, even if Paragraph (3) of Subsection (b) of Section 55-9-203 […]
Section 55-9-111 – Repealed.
ANNOTATIONS Repeals. — Laws 1992, ch. 114, § 237C repeals 55-9-111 NMSA 1978, as enacted by Laws 1961, ch. 96, § 9-111, relating to consignment, effective July 1, 1992. For provisions of former section, see the 1991 NMSA 1978 on NMOneSource.com.
Section 55-9-112 – Superseded.
ANNOTATIONS Compiler’s notes. — Several sections of former Article 9 were not repealed, however, it appears that this may have been an oversight as these sections appear to have been superseded. The Official Comments to Section 9-102 (55-9-102 NMSA 1978) states that the definition of “debtor” found in 9-102(a)(28) renders unnecessary former Section 9-112 (55-9-112 […]
Section 55-9-113 – Superseded.
ANNOTATIONS Compiler’s notes. — Several sections of former Article 9 were not repealed, however, it appears that this may have been an oversight as these sections appear to have been superseded. The Official Comments to Section 9-110 (55-9-110 NMSA 1978) states that the source of Section 9-110 (55-9-110 NMSA 1978) is “former Section 9-113 (55-9-113)”.
Section 55-9-114 – Superseded.
ANNOTATIONS Compiler’s notes. — Several sections of former Article 9 were not repealed, however, it appears that this may have been an oversight as these sections appear to have been superseded. The Official Comments to Section 9-110 (55-9-110 NMSA 1978) states that the source of Section 9-110 (55-9-110 NMSA 1978) is “former Section 9-113 (55-9-113)”.