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 55-9-709 – 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 55-9-625 – 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 […]
Section 55-9-627 – Determination of whether conduct was commercially reasonable.
(a) The fact that a greater amount could have been obtained by a collection, enforcement, disposition or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition or acceptance was made […]