reglab/housing_qa huggingface dataset:
NM Stat § 55-12-101 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 12 - Effective Date and Transition Provisions|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 New Mexico, as amended by this act. History: 1978 Comp., § 55-12-101, enacted by Laws 1985, ch. 193, § 39. ANNOTATIONSCompiler's notes. — This section appears as § 11-101 in the Uniform Act. Meaning of "this act". — The term "this act", referred to at the beginning of the section, means Laws 1985, ch. 193, which extensively amends the Uniform Commercial Code. For present compilation of the provisions of ch. 193, see the Table of Disposition of Laws in Volume 14 NMSA 1978.
NM Stat § 55-12-102 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 12 - Effective Date and Transition Provisions|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. ANNOTATIONSCross references. — For definition of "old UCC" and "new UCC", see 55-12-101 NMSA 1978. Compiler's notes. — Laws 1961, Chapter 96, Section 10-102, Subsection (2), referred to near the beginning of this section, provides that the act does not apply to transactions entered prior to the act's effective date. Section 10-101 of ch. 96 makes the Uniform Commercial Code effective on January 1, 1962. This section appears as § 11-102 in the Uniform Act.
NM Stat § 55-12-103 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 12 - Effective Date and Transition Provisions|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 from such transactions remain valid after the latter date and may be terminated, completed, consummated or enforced as required or permitted by the new U.C.C. Security interests arising out of such transactions which are perfected when the new U.C.C. becomes effective shall remain perfected until they lapse as provided in the new U.C.C., and may be continued as permitted by the new U.C.C., except as stated in Section 12-105 [55-12-105 NMSA 1978]. History: 1978 Comp., § 55-12-103, enacted by Laws 1985, ch. 193, § 41. ANNOTATIONSCross references. — For definition of "old UCC" and "new UCC," see 55-12-101 NMSA 1978. Compiler's notes. — This section appears as § 11-103 in the Uniform Act. Meaning of "this act". — This act, referred to near the middle of the first sentence, means Laws 1985, ch. 193, which extensively amends the Uniform Commercial Code. For present compilation of the provisions of ch. 193, see the Table of Disposition of Laws in Volume 14 NMSA 1978.
NM Stat § 55-12-104 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 12 - Effective Date and Transition Provisions|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 filing or authorizes filing in the office or offices where a prior ineffective filing was made. History: 1978 Comp., § 55-12-104, enacted by Laws 1985, ch. 193, § 42. ANNOTATIONSCross references. — For definition of "old UCC" and "new UCC," see 55-12-101 NMSA 1978. Compiler's notes. — This section appears as § 11-104 in the Uniform Act.
NM Stat § 55-12-105 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 12 - Effective Date and Transition Provisions|Section 55-12-105 - Transition provision on change of place of filing.

(1) A financing statement or continuation statement filed prior to January 1, 1986 which shall not have lapsed prior to January 1, 1986 shall remain effective for the period provided in the old U.C.C., but not less than five years after the filing. (2) An effective financing statement or continuation statement filed before January 1, 1986, in the place or places that were proper to perfect a security interest under the old U.C.C. shall continue to apply to the collateral described therein for the period specified in Subsection (1), without being filed in the place or places that are proper to perfect a security interest under the new U.C.C. (3) The effectiveness of any financing statement or continuation statement filed prior to January 1, 1986 may be continued by a continuation statement as permitted by the new U.C.C., except that if the new U.C.C. requires a filing in an office where there was no previous financing statement, a new financing statement conforming to Section 12-106 [55-12-106 NMSA 1978] shall be filed in that office. (4) If the record of a mortgage of real estate would have been effective as a fixture filing of goods described therein if the new U.C.C. had been in effect on the date of recording the mortgage, the mortgage shall be deemed effective as a fixture filing as to such goods under Subsection (6) of Section 9-402 [55-9-402 NMSA 1978] of the new U.C.C. on January 1, 1986. History: 1978 Comp., § 55-12-105, enacted by Laws 1985, ch. 193, § 43. ANNOTATIONSCross references. — For definition of "old UCC" and "new UCC," see 55-12-101 NMSA 1978. Compiler's notes. — This section appears as § 11-105 in the Uniform Act.
NM Stat § 55-12-107 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 12 - Effective Date and Transition Provisions|Section 55-12-107 - Transition provisions as to priorities.

Except as otherwise provided in Article 12 [55-12-101 to 55-12-108 NMSA 1978], the old U.C.C. shall apply to any questions of priority if the positions of the parties were fixed prior to January 1, 1986. In other cases questions of priority shall be determined by the new U.C.C. History: 1978 Comp., § 55-12-107, enacted by Laws 1985, ch. 193, § 45. ANNOTATIONSCross references. — For definition of "old UCC" and "new UCC," see 55-12-101 NMSA 1978. Compiler's notes. — This section appears as § 11-107 in the Uniform Act.
NM Stat § 55-12-108 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 12 - Effective Date and Transition Provisions|Section 55-12-108 - Presumption that rule of law continues unchanged.

Unless a change in law has clearly been made, the provisions of the new U.C.C. shall be deemed declaratory of the meaning of the old U.C.C. History: 1978 Comp., § 55-12-108, enacted by Laws 1985, ch. 193, § 46. ANNOTATIONSCross references. — For definition of "old UCC" and "new UCC," see 55-12-101 NMSA 1978. Compiler's notes. — This section appears as § 11-108 in the Uniform Act.
NM Stat § 55-12-109 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 12 - Effective Date and Transition Provisions|Section 55-12-109 - Saving clause.

(a) Chapter 55, Article 8 NMSA 1978 does not affect an action or proceeding commenced before that article takes effect. (b) If a security interest in a security is perfected at the date Chapter 55, Article 8 NMSA 1978 takes effect and the action by which the security interest was perfected would suffice to perfect a security interest under that article, no further action is required to continue perfection. If a security interest in a security is perfected at the date Chapter 55, Article 8 NMSA 1978 takes effect but the action by which the security interest was perfected would not suffice to perfect a security interest under that article, the security interest remains perfected for a period of four months after the effective date and continues perfected thereafter if appropriate action to perfect under Chapter 55, Article 8 NMSA 1978 is taken within that period. If a security interest is perfected at the date Chapter 55, Article 8 NMSA 1978 takes effect and the security interest can be perfected by filing under that article, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect. History: 1978 Comp., § 55-12-109, enacted by Laws 1996, ch. 47, § 69.
NM Stat § 55-12-110 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 12 - Effective Date and Transition Provisions|Section 55-12-110 - Temporary provision; effectiveness.

This act applies to a document of title that is issued or a bailment that arises on or after the effective date of this act. This act does not apply to a document of title that is issued or a bailment that arises before the effective date of this act even if the document of title or bailment would be subject to this act if the document of title had been issued or bailment had arisen on or after the effective date of this act. This act does not apply to a right of action regarding a document of title or bailment that has accrued before the effective date of this act. History: Laws 2005, ch. 144, § 110. ANNOTATIONSEffective dates. — Laws 2005, ch. 144, § 115 makes the act effective January 1, 2006. Temporary provisions. — Laws 2005, ch. 144, § 110, effective January 1, 2006, provided that Laws 2005, ch. 144 applies to a document of title that is issued or a bailment that arises on or after the effective date of this act. This act does not apply to a document of title that is issued or a bailment that arises before the effective date of this act even if the document of title or bailment would be subject to this act if the document of title had been issued or bailment had arisen on or after the effective date of this act. This act does not apply to a right of action regarding a document of title or bailment that has accrued before the effective date of this act.
NM Stat § 55-12-111 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 12 - Effective Date and Transition Provisions|Section 55-12-111 - Temporary provision; effectiveness.

A. A document of title issued or a bailment that arises before the effective date of this act and the rights, obligations and interests flowing from that document or bailment are governed by any statute or other rule amended or repealed by this act as if amendment or repeal had not occurred and may be terminated, completed, consummated or enforced under that statute or other rule. B. The provisions of Article 7 of the Uniform Commercial Code do not repeal or modify any laws prescribing the form or contents of documents of title or the services or facilities to be afforded by bailees, or otherwise regulating bailees' businesses in respects not specifically dealt with in the Uniform Commercial Code; but the fact that such laws are violated does not affect the status of a document of title that otherwise conforms with the definition of a document of title. History: Laws 2005, ch. 144, § 111; 2015, ch. 54, § 7. ANNOTATIONSThe 2015 amendment, effective July 1, 2015, amended the Uniform Commercial Code, as enacted by New Mexico, to make it uniform; designated the previously undesignated language in the section as Subsection A; and added Subsection B. Temporary provisions. — Laws 2005, ch. 144, § 110 provided that a document of title issued or a bailment that arises before the effective date of Laws 2005, ch. 144, § 111 (January 1, 2006), and the rights, obligations and interests flowing from that document or bailment are governed by any statute or other rule amended or replaced by this act as if amendment or repeal had not occurred and may be terminated, completed, consummated or enforced under that statute or other rule.
NM Stat § 56-1-2.1 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-2.1 - Repealed.

ANNOTATIONSRepeals. — Laws 1981, ch. 263, § 4, repealed 56-1-2.1 NMSA 1978, as enacted by Laws 1981, ch. 186, § 2, relating to the maximum time price differential in retail installment contracts, effective July 1, 1981. For present provisions, see 56-1-2 NMSA 1978. Compiler's notes. — Laws 1981, ch. 263, § 6, revived 56-1-2.1 NMSA 1978, effective July 1, 1983. However, Laws 1983, ch. 44, § 1, repealed Laws 1981, ch. 263, § 6, effective June 30, 1983.
NM Stat § 56-1-3.1 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-3.1 - Repealed.

ANNOTATIONSRepeals. — Laws 1981, ch. 263, § 4, repealed 56-1-3.1 NMSA 1978, as enacted by Laws 1981, ch. 186, § 4, relating to the maximum time price differential in retail charge agreements, effective July 1, 1981. For present provisions, see 56-1-3 NMSA 1978. Compiler's notes. — Laws 1981, ch. 263, § 6, revived 56-1-3.1 NMSA 1978, effective July 1, 1983. However, Laws 1983, ch. 44, § 1, repealed Laws 1981, ch. 263, § 6, effective June 30, 1983.
NM Stat § 56-1-4 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-4 - Insurance.

If the cost of insurance is included in the retail installment contract or the retail charge agreement and a separate charge is made to the buyer for the insurance: A. the contract or agreement must state the nature, purpose and amount of the insurance; B. the contract or agreement must state whether the insurance is to be procured by the buyer or the seller; C. the amount included for the insurance may not exceed the premiums chargeable in accordance with the rate fixed for the insurance by the insurer except where the amount is less than one dollar [($1.00)]; and if the insurance is cancelled or terminated for any reason, the refund for unearned insurance premiums received by the seller or the holder, shall be credited to the final maturing installments of the retail installment contract or retail charge agreement, and the remaining balance of the unearned insurance premiums shall be refunded to the buyer; provided, however, that no cash refund shall be required if the amount thereof is less than one dollar [($1.00)], and D. if the insurance is to be procured by the seller or holder, he shall, within 45 days after delivery of the goods or furnishing of the services under the contract or agreement deliver, mail or cause to be mailed to the buyer at his address as specified in the contract or agreement, a notice that the insurance is procured, a copy of the policy or policies of insurance or a certificate of the insurance so procured. History: 1953 Comp., § 50-16-4, enacted by Laws 1965, ch. 258, § 4. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 67 Am. Jur. 2d Sales §§ 229, 248, 339. 77A C.J.S. Sales § 18 et seq.
NM Stat § 56-1-5 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-5 - Prohibited provisions.

No retail installment contract or retail charge agreement shall contain any provision by which: A. in the absence of the buyer's default in the performance of any of his obligations, the holder may accelerate the maturity of any part or all of the amount owing thereunder; B. a power of attorney is given to confess judgment in this state, or an assignment of wages is given; C. the seller or holder or other person acting on his behalf is given authority to enter upon the buyer's premises unlawfully or to commit any breach of the peace in the repossession of goods; D. the buyer waives any right of action against the seller or holder or other person acting on his behalf, for any illegal act committed in the collection of payments under the contract or agreement or in the repossession of goods; E. the buyer executes a power of attorney appointing the seller or holder or other person acting on his behalf, as the buyer's agent in collection of payments under the contract or agreement or in the repossession of goods; or F. the buyer agrees not to assert against the seller or against an assignee a claim or defense arising out of the sale. History: 1953 Comp., § 50-16-5, enacted by Laws 1965, ch. 258, § 5. ANNOTATIONSCross references. — For definition of cognovit notes, see 39-1-18 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 67 Am. Jur. 2d Sales § 629. 77A C.J.S. Sales § 1 et seq.
NM Stat § 56-1-6 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-6 - Assignment.

Notwithstanding the provisions of any other law: A. an assignee may purchase or acquire or agree to purchase or acquire any retail installment contract or retail charge agreement or any outstanding balance under either from a seller on such terms and conditions and for such price as may be mutually agreed upon; B. filing of the assignment, notice to the buyer of the assignment and any requirement that the seller be deprived of dominion over payments upon a retail installment contract or retail charge agreement, or over the goods if returned to or repossessed by the seller, shall not be necessary to the validity of a written assignment of the retail installment contract or retail charge agreement or any outstanding balance under either as against creditors, subsequent purchasers, pledgees, mortgagees and lien claimants of the seller; and C. unless the buyer has notice of the assignment of his retail installment contract, retail charge agreement or any outstanding balance under either, payment therefor made by the buyer to the holder last known to him shall be binding upon all subsequent holders. History: 1953 Comp., § 50-16-6, enacted by Laws 1965, ch. 258, § 6. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 67 Am. Jur. 2d Sales §§ 27, 222 to 226. Constitutionality, construction, and application of statute respecting sale, assignment, or transfer of retail installment contracts, 10 A.L.R.2d 447. 77A C.J.S. Sales § 109 et seq.
NM Stat § 56-1-7 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-7 - [Waiver.]

No act or agreement of the retail buyer before or at the time of the making of a retail installment contract, retail charge agreement or purchase thereunder shall constitute a valid waiver of any of the provisions of this act [56-1-1 to 56-1-13 NMSA 1978] or of any remedies granted to the buyer by law. History: 1953 Comp., § 50-16-7, enacted by Laws 1965, ch. 258, § 7. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 67 Am. Jur. 2d Sales §§ 19, 210 to 221, 417, 422 to 424. 77A C.J.S. Sales § 1 et seq.
NM Stat § 56-1-8 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-8 - Penalty for violation of act.

Any person who wilfully [willfully] and intentionally violates any provision of this act [56-1-1 to 56-1-13 NMSA 1978] shall be guilty of a misdemeanor. Violation of any order or injunction issued pursuant to this act shall constitute prima facie proof of a violation of this section. History: 1953 Comp., § 50-16-8, enacted by Laws 1965, ch. 258, § 8. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.Cross references. — For penalties for misdemeanors, see 31-19-1 NMSA 1978.
NM Stat § 56-1-9 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-9 - Violation; bar to recovery.

Any seller who enters into any contract or agreement which does not comply with the provisions of this act [56-1-1 to 56-1-13 NMSA 1978] or who violates any provision of this act except as a result of an accidental or bona fide error shall be barred from the recovery of any time price differential, official fees, or any delinquency or collection charge under or in connection with the related retail installment contract or purchases under a retail charge agreement; but the seller may nevertheless recover from the buyer an amount equal to the cash price of the goods or services and the cost to the seller of any insurance included in the transaction. History: 1953 Comp., § 50-16-9, enacted by Laws 1965, ch. 258, § 9.
NM Stat § 56-1-10 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-10 - Injunction to prevent violation.

The attorney general of the state of New Mexico or the district attorney of the district in which the violation occurs may bring an action in the name of the state against any person to restrain and prevent any violation of this act [56-1-1 to 56-1-13 NMSA 1978]. History: 1953 Comp., § 50-16-10, enacted by Laws 1965, ch. 258, § 10. ANNOTATIONSCross references. — For the attorney general, see N.M. Const., art. V, § 1 and Chapter 8, Article 5 NMSA 1978. For district attorneys, see N.M. Const., art. VI, § 24 and Chapter 36, Article 1 NMSA 1978.
NM Stat § 56-1-11 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-11 - Consent to discontinuance.

In the enforcement of this act [56-1-1 to 56-1-13 NMSA 1978], the attorney general of the state of New Mexico or with his consent a district attorney may accept an assurance of discontinuance of any act or practice deemed in violation of this act, from any person engaging in, or who has engaged in, such act or practice. Any such assurance shall be in writing and be filed with and subject to the approval of the district court of the county in which the alleged violator resides or has his principal place of business. Failure to perform the terms of any such assurance shall constitute prima facie proof of a violation of this act for the purpose of securing any injunction as provided in Section 10 [56-1-10 NMSA 1978] of this act and for the purpose of Section 9 [56-1-9 NMSA 1978] hereof. After commencement of any action by a district attorney, the attorney general may not accept an assurance of discontinuance without the consent of the district attorney. History: 1953 Comp., § 50-16-11, enacted by Laws 1965, ch. 258, § 11. ANNOTATIONSCross references. — For the attorney general, see N.M. Const., art. V, § 1 and Chapter 8, Article 5 NMSA 1978. For district attorneys, see N.M. Const., art. VI, § 24 and Chapter 36, Article 1 NMSA 1978.
NM Stat § 56-1-12 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 1 - Retail Installment Sales|Section 56-1-12 - Violation of injunction; penalty.

Any person who violates any order or injunction issued pursuant to this act [56-1-1 to 56-1-13 NMSA 1978] shall forfeit and pay a civil penalty of not more than $1,000. For the purpose of this section, the court issuing any injunction shall retain jurisdiction, and the cause shall be continued, and in such cases the attorney general acting in the name of the state may petition for the recovery of civil penalties. History: 1953 Comp., § 50-16-12, enacted by Laws 1965, ch. 258, § 12. ANNOTATIONSCross references. — For the attorney general, see N.M. Const., art. V, § 1 and Chapter 8, Article 5 NMSA 1978.