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Section 55-9-710 – Repealed.
History: Laws 2001, ch. 139, § 154; repealed by Laws 2011, ch. 134, § 24.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 — Laws 2011, ch. 134, § 24 repealed NMSA 1978, as enacted by Laws 2001, ch. 139, § 154, relating to a temporary transition provision, effective July 1, 2011.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 55-9-801 – 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 […]
Section 55-9-804 – Security interest unperfected before effective date.
A security interest that is an unperfected security interest immediately before this 2013 act takes effect becomes a perfected security interest: (a) without further action, when this 2013 act takes effect, if the applicable requirements for perfection under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, are satisfied before or at […]
Section 55-9-805 – Effectiveness of action taken before effective date.
(a) The filing of a financing statement before this 2013 act takes effect is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act. (b) This 2013 act does not render ineffective an effective […]
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 […]
Section 55-9-624 – Waiver.
(a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 55-9-611 NMSA 1978 only by an agreement to that effect entered into and authenticated after default. (b) A debtor may waive the right to require disposition of collateral under Subsection (e) of Section 55-9-620 NMSA 1978 only […]
Section 55-9-625 – Remedies for secured party’s failure to comply with article.
(a) If it is established that a secured party is not proceeding in accordance with Chapter 55, Article 9 NMSA 1978, a court may order or restrain collection, enforcement or disposition of collateral on appropriate terms and conditions. (b) Subject to Subsections (c), (d) and (f) of this section, a person is liable for damages […]