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 […]
Section 55-12-101 – Effective date; [“old U.C.C.” and “new U.C.C.” defined]
This act shall become effective at 12:01 a.m. on January 1, 1986. As used in this article, unless the context requires otherwise: (a) “old U.C.C.” means the Uniform Commercial Code, as effective in New Mexico, immediately prior to the effective day of this act. (b) “new U.C.C.” means the Uniform Commercial Code, as effective in […]
Section 55-12-102 – Preservation of old transition provision.
The provisions of Laws 1961, Chapter 96, Section 10-102, Subsection (2), shall continue to apply to the new U.C.C. and for this purpose the old U.C.C. and the new U.C.C. shall be considered one continuous statute. History: 1978 Comp., § 55-12-102, enacted by Laws 1985, ch. 193, § 40. ANNOTATIONS Cross references. — For definition […]
Section 55-12-103 – Transition to new U.C.C.; general rule.
Transactions validly entered into after January 1, 1962, and before January 1, 1986, and which were subject to the provisions of the old U.C.C. and which would be subject to this act as amended if they had been entered into after the effective date of the new U.C.C. and the rights, duties and interests flowing […]
Section 55-12-104 – Transition provision on change of requirement of filing.
A security interest for the perfection of which filing or the taking of possession was required under the old U.C.C. and which attached prior to the effective date of the new U.C.C. but was not perfected shall be deemed perfected on the effective date of the new U.C.C. if the new U.C.C. permits perfection without […]
Section 55-9-801 – Effective date.
The effective date of the provisions of this 2013 act is July 1, 2013. History: 1978 Comp., § 55-9-801, enacted by Laws 2013, ch. 137, § 20. ANNOTATIONS OFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. These transition provisions largely track […]
Section 55-9-802 – Applicability.
(a) Except as otherwise provided in this part, this 2013 act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this 2013 act takes effect. (b) This 2013 act does not affect an action, case or proceeding commenced before this 2013 act takes […]
Section 55-9-803 – Security interest perfected before effective date.
(a) A security interest that is a perfected security interest immediately before this 2013 act takes effect is a perfected security interest under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, if, when this 2013 act takes effect, the applicable requirements for attachment and perfection under Chapter 55, Article 9 NMSA […]