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 […]
Article 10 – Effective Date, Repealer and Miscellaneous
ANNOTATIONS Compiler’s notes. — Section 10-101 of ch. 96, Laws 1961 provides: “This act shall become effective at midnight on December 31st following its enactment. It applies to transactions entered into and events occurring after that date.” Approved March 23, 1961. Section 10-102 of ch. 96, Laws 1961 provides: “(1) The following acts and all […]
Article 11 – Amendment to Other Statutes
ANNOTATIONS Compiler’s notes. — Laws 1961, ch. 96, §§ 11-101 to 11-118 purported to enact Article 11 of the Uniform Commercial Code. In fact, those sections merely amend sections which are now designated as 6-12-12, 14-8-4, 14-11-10, 38-7-1, 42-9-17, 48-3-7, 48-7-1, 56-5-1 to 56-5-4, 56-6-1, 56-6-3, 56-6-6 to 56-6-8 NMSA 1978.
Section 55-9-806 – 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 this 2013 act takes effect if: (1) the filing of an initial financing statement in that office would be effective to perfect a security interest under Chapter 55, Article […]
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 […]