reglab/housing_qa huggingface dataset:
NM Stat § 54-2-32 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-32 - Repealed.

History: 1978 Comp., § 54-2-32, enacted by Laws 1988, ch. 90, § 32; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repeals 54-2-32 NMSA 1978, as enacted by Laws 1988, ch. 90, § 32, relating to interim distributions, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-33 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-33 - Repealed.

History: 1978 Comp., § 54-2-33, enacted by Laws 1988, ch. 90, § 33; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-33 NMSA 1978, as enacted by Laws 1988, ch. 90, § 33, relating to withdrawal of general partner, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-34 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-34 - Repealed.

History: 1978 Comp., § 54-2-34, enacted by Laws 1988, ch. 90, § 34; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-34 NMSA 1978, as enacted by Laws 1988, ch. 90, § 34, relating to withdrawal of limited partner, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-35 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-35 - Repealed.

History: 1978 Comp., § 54-2-35, enacted by Laws 1988, ch. 90, § 35; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-35 NMSA 1978, as enacted by Laws 1988, ch. 90, § 35, relating to distribution upon withdrawal, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-36 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-36 - Repealed.

History: 1978 Comp., § 54-2-36, enacted by Laws 1988, ch. 90, § 36; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-36 NMSA 1978, as enacted by Laws 1988, ch. 90, § 36, relating to distribution in kind, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-37 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-37 - Repealed.

History: 1978 Comp., § 54-2-37, enacted by Laws 1988, ch. 90, § 37; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-37 NMSA 1978, as enacted by Laws 1988, ch. 90, § 37, relating to right to distribution, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-38 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-38 - Repealed.

History: 1978 Comp., § 54-2-38, enacted by Laws 1988, ch. 90, § 38; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-38 NMSA 1978, as enacted by Laws 1988, ch. 90, § 38, relating to limitations on distribution, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-39 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-39 - Repealed.

History: 1978 Comp., § 54-2-39, enacted by Laws 1988, ch. 90, § 39; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-39 NMSA 1978, as enacted by Laws 1988, ch. 90, § 39, relating to liability upon return of contribution, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-40 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-40 - Repealed.

History: 1978 Comp., § 54-2-40, enacted by Laws 1988, ch. 90, § 40; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-40 NMSA 1978, as enacted by Laws 1988, ch. 90, § 40, relating to nature of partnership interest, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-41 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-41 - Repealed.

History: 1978 Comp., § 54-2-41, enacted by Laws 1988, ch. 90, § 41; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-41 NMSA 1978, as enacted by Laws 1988, ch. 90, § 41, relating to assignment of partnership interest, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-42 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-42 - Repealed.

History: 1978 Comp., § 54-2-42, enacted by Laws 1988, ch. 90, § 42; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-42 NMSA 1978, as enacted by Laws 1988, ch. 90, § 42, relating to rights of creditors, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-43 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-43 - Repealed.

History: 1978 Comp., § 54-2-43, enacted by Laws 1988, ch. 90, § 43; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-43 NMSA 1978, as enacted by Laws 1988, ch. 90, § 43, relating to right of assignee to become limited partner, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-44 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-44 - Repealed.

History: 1978 Comp., § 54-2-44, enacted by Laws 1988, ch. 90, § 44; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-44 NMSA 1978, as enacted by Laws 1988, ch. 90, § 44, relating to power of estate of deceased or incompetent partner, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-45 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-45 - Repealed.

History: 1978 Comp., § 54-2-45, enacted by Laws 1988, ch. 90, § 45; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-45 NMSA 1978, as enacted by Laws 1988, ch. 90, § 45, relating to nonjudicial dissolution, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-46 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-46 - Repealed.

History: 1978 Comp., § 54-2-46, enacted by Laws 1988, ch. 90, § 46; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-46 NMSA 1978, as enacted by Laws 1988, ch. 90, § 46, relating to judicial dissolution, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-47 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-47 - Repealed.

History: 1978 Comp., § 54-2-47, enacted by Laws 1988, ch. 90, § 47; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-47 NMSA 1978, as enacted by Laws 1988, ch. 90, § 47, relating to winding up limited partnership's affairs, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-48 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-48 - Repealed.

History: 1978 Comp., § 54-2-48, enacted by Laws 1988, ch. 90, § 48; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-48 NMSA 1978, as enacted by Laws 1988, ch. 90, § 48, relating to distribution of assets, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-49 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-49 - Repealed.

History: 1978 Comp., § 54-3-1, enacted by Laws 1979, ch. 85, § 1; recompiled as 1978 Comp., § 54-2-49 by Laws 1988, ch. 90, § 49; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-49 NMSA 1978, as enacted by Laws 1979, ch. 85, § 1 and recompiled by Laws 1988, ch. 90, § 49, relating to governing law, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-50 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-50 - Repealed.

History: 1978 Comp., § 54-3-1.1, enacted by Laws 1979, ch. 85, § 2; recompiled as 1978 Comp., § 54-2-50 by Laws 1988, ch. 90, § 50; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-50 NMSA 1978, as enacted by Laws 1979, ch. 85, § 2 and recompiled by Laws 1988, ch. 90, § 50, relating to definition of "foreign limited partnership", effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-51 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-51 - Repealed.

History: 1978 Comp., § 54-3-2, enacted by Laws 1979, ch. 85, § 3; recompiled as 1978 Comp., § 54-2-51 by Laws 1988, ch. 90, § 51; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-51 NMSA 1978, as enacted by Laws 1979, ch. 85, § 3 and recompiled by Laws 1988, ch. 90, § 51, relating to registration, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-52 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-52 - Repealed.

History: 1978 Comp., § 54-3-3, enacted by Laws 1979, ch. 85, § 4; recompiled as 1978 Comp., § 54-2-52 by Laws 1988, ch. 90, § 52; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-52 NMSA 1978, as enacted by Laws 1979, ch. 85, § 4 and recompiled by Laws 1988, ch. 90, § 52, relating to foreign limited partnership name, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-53 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-53 - Repealed.

History: 1978 Comp., § 54-3-4, enacted by Laws 1979, ch. 85, § 5; recompiled as 1978 Comp., § 54-2-53 by Laws 1988, ch. 90, § 53; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-53 NMSA 1978, as enacted by Laws 1979, ch. 85, § 5 and recompiled by Laws 1988, ch. 90, § 53, relating to changes and amendments, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-54 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-54 - Repealed.

History: 1978 Comp., § 54-3-5, enacted by Laws 1979, ch. 85, § 6; recompiled as 1978 Comp., § 54-2-54 by Laws 1988, ch. 90, § 54; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-54 NMSA 1978, as enacted by Laws 1979, ch. 85, § 6 and recompiled by Laws 1988, ch. 90, § 52, relating to cancellation of registration, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-55 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-55 - Repealed.

History: 1978 Comp., § 54-3-6, enacted by Laws 1979, ch. 85, § 7; recompiled as 1978 Comp., § 54-2-55 by Laws 1988, ch. 90, § 55; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-55 NMSA 1978, as enacted by Laws 1979, ch. 85, § 7 and recompiled by Laws 1988, ch. 90, § 55, relating to transaction of business without registration, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-56 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-56 - Repealed.

History: 1978 Comp., § 54-3-7, enacted by Laws 1979, ch. 85, § 8; recompiled as 1978 Comp., § 54-2-56 by Laws 1988, ch. 90, § 56; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-56 NMSA 1978, as enacted by Laws 1979, ch. 85, § 8 and recompiled by Laws 1988, ch. 90, § 56, relating to action by attorney general, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-57 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-57 - Repealed.

History: Laws 1978 Comp., § 54-2-57, enacted by Laws 1988, ch. 90, § 57; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-59 NMSA 1978, as enacted by Laws 1988, ch. 90, § 57, relating to right of action, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-58 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-58 - Repealed.

History: Laws 1978 Comp., § 54-2-58, enacted by Laws 1988, ch. 90, § 58; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-58 NMSA 1978, as enacted by Laws 1988, ch. 90, § 58, relating to proper plaintiff, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-59 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-59 - Repealed.

History: Laws 1978 Comp., § 54-2-59, enacted by Laws 1988, ch. 90, § 59; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-59 NMSA 1978, as enacted by Laws 1988, ch. 90, § 59, relating to pleadings, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-60 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-60 - Repealed.

History: Laws 1978 Comp., § 54-2-60, enacted by Laws 1988, ch. 90, § 60; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-60 NMSA 1978, as enacted by Laws 1988, ch. 90, § 60, relating to expenses, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-61 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-61 - Repealed.

History: Laws 1978 Comp., § 54-2-61, enacted by Laws 1988, ch. 90, § 61; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-61 NMSA 1978, as enacted by Laws 1988, ch. 90, § 61, relating to construction and application, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-62 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-62 - Repealed.

History: Laws 1978 Comp., § 54-2-62, enacted by Laws 1988, ch. 90, § 62; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-62 NMSA 1978, as enacted by Laws 1988, ch. 90, § 62, relating to cases not provided for in the Uniform Limited Partnership Act. effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-2-63 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 2 - Uniform Limited Partnerships (Repealed.)|Section 54-2-63 - Repealed.

History: Laws 1978 Comp., § 54-2-63, enacted by Laws 1988, ch. 90, § 63; repealed by Laws 2007, ch. 129, § 1206. ANNOTATIONSRepeals. — Laws 2007, ch. 129, § 1206 repealed 54-2-63 NMSA 1978, as enacted by Laws 1988, ch. 90, § 63, relating to provisions for existing limited partnership, effective January 1, 2009. For provisions of former section, see the 2009 NMSA 1978 on NMOneSource.com.
NM Stat § 54-3-1 to 54-3-7 (2021)
2021 New Mexico Statutes|Chapter 54 - Partnerships|Article 3 - Foreign Limited Partnerships (Recompiled.)|Section 54-3-1 to 54-3-7 - Recompiled.

ANNOTATIONSRecompilations. — Laws 1988, ch. 90, § 49 recompiled 54-3-1 to 54-3-7 NMSA 1978 as 54-2-49 to 54-2-56 NMSA 1978, effective September 1, 1989.
NM Stat § 55-5-105 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 5 - Letters of Credit|Section 55-5-105 - Consideration.

Consideration is not required to issue, amend, transfer or cancel a letter of credit, advice or confirmation. History: 1978 Comp., § 55-5-105, enacted by Laws 1997, ch. 75, § 7. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. It is not to be expected that any issuer will issue its letter of credit without some form of remuneration. But it is not expected that the beneficiary will know what the issuer's remuneration was or whether in fact there was any identifiable remuneration in a given case. And it might be difficult for the beneficiary to prove the issuer's remuneration. This section dispenses with this proof and is consistent with the position of Lord Mansfield in Pillans v. Van Mierop, 97 Eng.Rep. 1035 (K.B. 1765) in making consideration irrelevant. Repeals and reenactments. — Laws 1997, ch. 75, § 7 repealed former 55-5-105 NMSA 1978, as enacted by Laws 1961, ch. 96, § 5-105, and enacted a new section, effective July 1, 1997. For provisions of former section, see the 1996 NMSA 1978 on NMOneSource.com. Am. Jur. 2d, A.L.R. and C.J.S. references. — 50 Am. Jur. 2d Letters of Credit and Credit Cards § 16.
NM Stat § 55-5-115 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 5 - Letters of Credit|Section 55-5-115 - Statute of limitations.

An action to enforce a right or obligation arising under this article must be commenced within one year after the expiration date of the relevant letter of credit or one year after the cause of action accrues, whichever occurs later. A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach. History: 1978 Comp., § 55-5-115, enacted by Laws 1997, ch. 75, § 17. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. 1. This section is based upon Sections 4-111 and 2-725(2). 2. This section applies to all claims for which there are remedies under Section 5-111 and to other claims made under this article, such as claims for breach of warranty under Section 5-110. Because it covers all claims under Section 5-111, the statute of limitations applies not only to wrongful dishonor claims against the issuer but also to claims between the issuer and the applicant arising from the reimbursement agreement. These might be for reimbursement (issuer v. applicant) or for breach of the reimbursement contract by wrongful honor (applicant v. issuer). 3. The statute of limitations, like the rest of the statute, applies only to a letter of credit issued on or after the effective date and only to transactions, events, obligations, or duties arising out of or associated with such a letter. If a letter of credit was issued before the effective date and an obligation on that letter of credit was breached after the effective date, the complaining party could bring its suit within the time that would have been permitted prior to the adoption of Section 5-115 and would not be limited by the terms of Section 5-115. Repeals and reenactments. — Laws 1997, ch. 75, § 17 repealed former 55-5-115 NMSA 1978, as enacted by Laws 1961, ch. 96, § 5-115, relating to remedy for improper dishonor or anticipatory repudiation, and enacted a new section, effective July 1, 1997. For provisions of former section, see the 1996 NMSA 1978 on NMOneSource.com.
NM Stat § 55-5-118 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 5 - Letters of Credit|Section 55-5-118 - Security interest of issuer or nominated person.

(a) An issuer or nominated person has a security interest in a document presented under a letter of credit to the extent that the issuer or nominated person honors or gives value for the presentation. (b) So long as and to the extent that an issuer or nominated person has not been reimbursed or has not otherwise recovered the value given with respect to a security interest in a document under Subsection (a) of this section, the security interest continues and is subject to Chapter 55, Article 9 NMSA 1978, but: (1) a security agreement is not necessary to make the security interest enforceable under Paragraph (3) of Subsection (b) of Section 55-9-203 NMSA 1978; (2) if the document is presented in a medium other than a written or other tangible medium, the security interest is perfected; and (3) if the document is presented in a written or other tangible medium and is not a certificated security, chattel paper, a document of title, an instrument or a letter of credit, the security interest is perfected and has priority over a conflicting security interest in the document so long as the debtor does not have possession of the document. History: 1978 Comp., § 55-5-118, enacted by Laws 2001, ch. 139, § 138. ANNOTATIONSEffective dates. — Laws 2001, ch. 139, § 155 made Laws 2001, ch. 139, § 138 effective July 1, 2001.
NM Stat § 55-6-101 to 55-6-110 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 6 - Bulk Transfers (Repealed.)|Section 55-6-101 to 55-6-110 - Repealed.

ANNOTATIONSRepeals. — Laws 1992, ch. 114, § 237C repealed 55-6-101 to 55-6-110 NMSA 1978, as enacted by Laws 1961, ch. 96, §§ 6-101 to 6-110, relating to bulk transfers, effective July 1, 1992. For provisions of former sections, see the 1991 NMSA 1978 on NMOneSource.com.