As used in Sections 56-6-1 through 56-6-11 New Mexico Statutes Annotated, 1978 Compilation: A. words shall have the same meanings as set forth in the Uniform Commercial Code, Article 7 [55-7-101 to 55-7-807 NMSA 1978]; B. “warehouse” means any building, structure or other protected enclosure in which any agricultural product is, or may be, stored; […]
The provisions of this act [56-6-1 to 56-6-11 NMSA 1978] shall not apply to any farmer’s marketing association whose principal business is that of storing and marketing perishable agricultural products. History: Laws 1941, ch. 145, § 10; 1941 Comp., § 53-910; 1953 Comp., § 50-9-10. ANNOTATIONS Bracketed material. — The bracketed material was inserted by […]
No provision of this act [56-6-1 to 56-6-11 NMSA 1978] shall apply to any warehouseman operating under the provisions of the United States Warehouse Act nor to any warehouseman within the state of New Mexico who is under like bond in the amount of $5,000.00 or more to any agency of the United States or […]
No warehouseman shall issue negotiable warehouse receipts for agricultural products as in this act [56-6-1 to 56-6-11 NMSA 1978] defined, unless he shall have obtained from the county clerk of the county in which his warehouse is located a license authorizing him to store such agricultural products. Such license shall be issued by said county […]
No warehouseman shall issue negotiable warehouse receipts until he has filed, with the county clerk, a surety company bond in the sum of five thousand dollars ($5,000), payable to the state, and approved by the district attorney of the judicial district within which is located the office of the county clerk, to secure the faithful […]
The county clerk shall number the licenses, issued under this act [56-6-1 to 56-6-11 NMSA 1978], with consecutive numbers following the name of his county, as follows: “. . . . . . . . County, Number . . . . . . . . . . . . ..” Each warehouseman shall display the […]
Each warehouseman shall be required to carry one hundred percent fire, combustion and lightning insurance and fifty percent tornado insurance on the value of the products in storage, under policies issued by insurance companies authorized to do business in New Mexico, payable to the warehouseman and his bondsman as their interests may appear. History: Laws […]
Any person injured by the breach of any obligation to secure which a bond is given, under the provisions of Sections 56-6-1 through 56-6-11 New Mexico Statutes Annotated, 1978 Compilation or the Uniform Commercial Code, Article 7 [55-7-101 to 55-7-807 NMSA 1978] shall be entitled to sue on the bond in his own name in […]
The license gives the applicant authority to conduct the business of a warehouseman and is revocable only by the district court of the county in which the warehouse is located, upon the written petition of any person setting forth the particular violation of Sections 56-6-1 through 56-6-11 New Mexico Statutes Annotated, 1978 Compilation or of […]
The negotiable receipts issued by any warehouseman under Sections 56-6-1 through 56-6-11 New Mexico Statutes Annotated, 1978 Compilation, among other requirements provided for in the Uniform Commercial Code, Article 7 [55-7-101 to 55-7-807 NMSA 1978] shall plainly state on the face that the agricultural products for which the receipt is issued are kept fully insured […]
Any warehouseman, or any officer, agent or servant of a warehouseman, who issues or aids in issuing a receipt for such agricultural products without complying with the provisions of this act [56-6-1 to 56-6-11 NMSA 1978] shall be guilty of a felony, and upon conviction shall be punished for each offense by imprisonment not exceeding […]
