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 55-9-706 – 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 55-9-624 – 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 […]
Section 55-9-626 – Action in which deficiency or surplus is in issue.
(a) In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue, the following rules apply: (1) A secured party need not prove compliance with the provisions of this part relating to collection, enforcement, disposition or acceptance unless the debtor or a […]