reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 9 - Secured Transactions › Part 7 - TRANSITION › Section 55-9-704 - Temporary transition provision; security interest unperfected before effective date.

A security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time:
(1) remains an enforceable security interest until midnight June 30, 2002;
(2) remains enforceable on and after July 1, 2002 if the security interest becomes enforceable pursuant to Section 55-9-203 NMSA 1978 before June 30, 2002; and
(3) becomes perfected:
(A) without further action on July 1, 2002 if the applicable requirements for perfection under this act are satisfied before or at that time; or
(B) when the applicable requirements for perfection are satisfied if the requirements are satisfied after the time specified in Paragraph (A) of this subsection.
History:
Laws 2001, ch. 139, § 148.
OFFICIAL COMMENTS
UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
This section deals with security interests that are enforceable but unperfected (i.e., subordinate to the rights of a person who becomes a lien creditor) under former article 9 or other applicable law immediately before July 1, 2001. These security interests remain enforceable for one year after July 1, 2001, and thereafter if the appropriate steps for attachment under this article are taken before the one-year period expires. (This section's treatment of enforceability is the same as that of section 9-703.) The security interest becomes a perfected security interest on July 1, 2001, if, at that time, the security interest satisfies the requirements for perfection under this article. If the security interest does not satisfy the requirements for perfection until sometime thereafter, it becomes a perfected security interest at that later time.
Example: A security interest has attached under former article 9 but is unperfected because the filed financing statement covers "all of debtor's personal property" and controlling case law in the applicable jurisdiction has determined that this identification of collateral in a financing statement is insufficient. On July 1, 2001, the financing statement becomes sufficient under section 9-504(2). On that date the security interest becomes perfected. (This assumes, of course, that the financing statement is filed in the proper filing office under this article.)
ANNOTATIONS
Effective dates.
— Laws 2001, ch. 139, § 155 makes the Uniform Commercial Code - Secured Transactions Act effective July 1, 2001.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 9 - Secured Transactions › Part 7 - TRANSITION › 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 July 1, 2001; or
(B) to perfect or continue the perfection of a security interest.
History:
Laws 2001, ch. 139, § 152.
OFFICIAL COMMENTS
UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
This section permits a secured party to file an initial financing statement or continuation statement necessary under this part to continue the effectiveness of a financing statement filed before July 1, 2001, or to perfect or otherwise continue the perfection of a security interest. Because a filing described in this section typically operates to continue the effectiveness of a financing statement whose filing the debtor already has authorized, this section does not require authorization from the debtor.
ANNOTATIONS
Effective dates.
— Laws 2001, ch. 139, § 155 makes the Uniform Commercial Code - Secured Transactions Act effective July 1, 2001.
Compiler's notes.
— The references to Sections 145 through 152 of this act and 145 through 153 of this act, should apparently refer to Laws 2001, ch. 139, Sections 146 through 152 [55-9-702 through 55-9-708 NMSA 1978] and 146 through 153 [55-9-702 through 55-9-709 NMSA 1978]. Laws 2001, ch. 139, § 145 is codified at 55-8-510 NMSA 1978.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 9 - Secured Transactions › Part 7 - TRANSITION › 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 1978 on
NMOneSource.com.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 9 - Secured Transactions › Part 8 - SECURITY INTEREST › 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 effect.
History:
1978 Comp., § 55-9-802, enacted by Laws 2013, ch. 137, § 21.
ANNOTATIONS
Effective dates.
— Laws 2013, ch. 137, § 20 made the provisions of Laws 2013, ch. 137 effective July 1, 2013.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 9 - Secured Transactions › Part 8 - SECURITY INTEREST › 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 1978, as amended by this 2013 act, are satisfied without further action.
(b) Except as otherwise provided in Section 55-9-805 NMSA 1978, if, immediately before this 2013 act takes effect, a security interest is a perfected security interest but the applicable requirements for perfection under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, are not satisfied when this act takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, are satisfied within one year after this 2013 act takes effect.
History:
1978 Comp., § 55-9-803, enacted by Laws 2013, ch. 137, § 22.
ANNOTATIONS
Effective dates.
— Laws 2013, ch. 137, § 20 made the provisions of Laws 2013, ch. 137 effective July 1, 2013.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 9 - Secured Transactions › Part 8 - SECURITY INTEREST › 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 that time; or
(b) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.
History:
1978 Comp., § 55-9-804, enacted by Laws 2013, ch. 137, § 23.
ANNOTATIONS
Effective dates.
— Laws 2013, ch. 137, § 20 made the provisions of Laws 2013, ch. 137 effective July 1, 2013.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 9 - Secured Transactions › Part 8 - SECURITY INTEREST › Section 55-9-806 - 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 this 2013 act takes effect if:
(1) the filing of an initial financing statement in that office would be effective to perfect a security interest under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act;
(2) the pre-effective-date financing statement was filed in an office in another state; and
(3) the initial financing statement satisfies Subsection (c) of this section.
(b) The filing of an initial financing statement under Subsection (a) of this section continues the effectiveness of the pre-effective-date financing statement:
(1) if the initial financing statement is filed before this 2013 act takes effect, for the period provided in unamended Section 55-9-515 NMSA 1978 with respect to an initial financing statement; and
(2) if the initial financing statement is filed after this 2013 act takes effect, for the period provided in Section 55-9-515 NMSA 1978, as amended by this 2013 act, with respect to an initial financing statement.
(c) To be effective for purposes of Subsection (a) of this section, an initial financing statement must:
(1) satisfy the requirements of Part 5, as amended by this 2013 act, for an initial financing statement;
(2) identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and
(3) indicate that the pre-effective-date financing statement remains effective.
History:
1978 Comp., § 55-9-806, enacted by Laws 2013, ch. 137, § 25.
ANNOTATIONS
Effective dates.
— Laws 2013, ch. 137, § 20 made the provisions of Laws 2013, ch. 137 effective July 1, 2013.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 9 - Secured Transactions › Part 8 - SECURITY INTEREST › Section 55-9-807 - Amendment of pre-effective-date financing statement.

(a) As used in this section, "pre-effective-date financing statement" means a financing statement filed before this 2013 act takes effect.
(b) After this 2013 act takes effect, 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 jurisdiction governing perfection as provided in Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(c) Except as otherwise provided in Subsection (d) of this section, if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this 2013 act takes effect only if:
(1) the pre-effective-date financing statement and an amendment are filed in the office specified in Section 55-9-501 NMSA 1978;
(2) an amendment is filed in the office specified in Section 55-9-501 NMSA 1978 concurrently with, or after the filing in that office of, an initial financing statement that satisfies Subsection (c) of Section 55-9-806 NMSA 1978; or
(3) an initial financing statement that provides the information as amended and that satisfies Subsection (c) of Section 55-9-806 NMSA 1978, is filed in the office specified in Section 55-9-501 NMSA 1978.
(d) If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only pursuant to Subsections (c) and (e) of Section 55-9-805 or Section 55-9-806 NMSA 1978.
(e) Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after this 2013 act takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies Subsection (c) of Section 55-9-806 NMSA 1978 has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act as the office in which to file a financing statement.
History:
1978 Comp., § 55-9-807, enacted by Laws 2013, ch. 137, § 26.
ANNOTATIONS
Effective dates.
— Laws 2013, ch. 137, § 20 made the provisions of Laws 2013, ch. 137 effective July 1, 2013.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 9 - Secured Transactions › Part 8 - SECURITY INTEREST › Section 55-9-808 - Person entitled to file initial financing statement or continuation statement.

A person may file an initial financing statement or a continuation statement under this part if:
(a) the secured party of record authorizes the filing; and
(b) the filing is necessary under this part:
(1) to continue the effectiveness of a financing statement filed before this 2013 act takes effect; or
(2) to perfect or continue the perfection of a security interest.
History:
1978 Comp., § 55-9-808, enacted by Laws 2013, ch. 137, § 27.
ANNOTATIONS
Effective dates.
— Laws 2013, ch. 137, § 20 made the provisions of Laws 2013, ch. 137 effective July 1, 2013.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 9 - Secured Transactions › Part 8 - SECURITY INTEREST › Section 55-9-809 - Priority.

This 2013 act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims are established before this 2013 act takes effect, Chapter 55, Article 9 NMSA 1978, as it existed before amendment, determines priority.
History:
1978 Comp., § 55-9-809, enacted by Laws 2013, ch. 137, § 28.
ANNOTATIONS
Effective dates.
— Laws 2013, ch. 137, § 20 made the provisions of Laws 2013, ch. 137 effective July 1, 2013.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 10 - Effective Date, Repealer and Miscellaneous

Compiler's notes.
— Section 10-101 of ch. 96, Laws 1961 provides: "This act shall become effective at midnight on December 31st following its enactment. It applies to transactions entered into and events occurring after that date." Approved March 23, 1961.
Section 10-102 of ch. 96, Laws 1961 provides: "(1) The following acts and all other acts and parts of acts inconsistent herewith are hereby repealed:
"Sections 20-2-17 through 20-2-19 New Mexico Statutes Annotated, 1953 Compilation (being Laws 1897, chapter 73, sections 125 through 127, as amended) and sections 22-16-1 through 22-16-5 New Mexico Statutes Annotated, 1953 Compilation (being Laws 1852-1853, page 81, as amended) and sections 24-3-1 through 24-3-4 New Mexico Statutes Annotated, 1953 Compilation (being Laws 1905, chapter 79, sections 126 through 129, as amended) and sections 26-1-38 through 26-1-42 New Mexico Statutes Annotated, 1953 Compilation (being Laws 1907, chapter 107, section 1, subsection 217, as amended, Laws 1903, chapter 94, sections 1 and 2, as amended, and Laws 1907, chapter 107, section 1, subsections 218 and 219, as amended) and sections 26-2-11 and 26-2-22 New Mexico Statutes Annotated, 1953 compilation (being Laws 1909, chapter 63, sections 10 and 21, as amended) and sections 33-1-25 through 33-1-35 New Mexico Statutes Annotated, 1953 Compilation (being Laws 1959, chapter 179, sections 1 through 11) and sections 40-21-38 and 40-21-39 New Mexico Statutes Annotated, 1953 Compilation (being Laws 1853-1854, page 25, as amended) and sections 48-9-1 through 48-9-17 New Mexico Statutes Annotated, 1953 Compilation (being Laws 1929, chapter 138, sections 1 through 17) and sections 48-10-5 through 48-10-9 New Mexico Statutes Annotated, 1953 Compilation (being Laws 1923, chapter 20, section 1, Laws 1925, chapter 88, section 1, Laws 1929, chapter 49, section 1, and Laws 1923, chapter 55, sections 1 and 2) and sections
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11 - Amendment to Other Statutes

ANNOTATIONS
Compiler's notes.
— Laws 1961, ch. 96, §§ 11-101 to 11-118 purported to enact Article 11 of the Uniform Commercial Code. In fact, those sections merely amend sections which are now designated as 6-12-12, 14-8-4, 14-11-10, 38-7-1, 42-9-17, 48-3-7, 48-7-1, 56-5-1 to 56-5-4, 56-6-1, 56-6-3, 56-6-6 to 56-6-8 NMSA 1978.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11A - Effective Date and Transition Provisions [Effective January 1, 2024] › Section 55-11A-101 - Effective date; ["old U.C.C." and "new U.C.C." defined]. (Effective January 1, 2024.)

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; recompiled as § 55-11A-101 by Laws 2023, ch. 142, § 95.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-101 NMSA 1978 as 55-11A-101 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 96 enacted a new 55-12-101 NMSA 1978, relating to the short title of Uniform Commercial Code - Controllable Electronic Records, effective January 1, 2024.
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.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11A - Effective Date and Transition Provisions [Effective January 1, 2024] › Section 55-11A-102 - Preservation of old transition provision. (Effective January 1, 2024.)

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; recompiled as § 55-11A-102 by Laws 2023, ch. 142, § 95.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-102 NMSA 1978 as 55-11A-102 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 97 enacted a new 55-12-102 NMSA 1978, relating to definitions, effective January 1, 2024.
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.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11A - Effective Date and Transition Provisions [Effective January 1, 2024] › Section 55-11A-103 - Transition to new U.C.C.; general rule. (Effective January 1, 2024.)

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 [55-11A-105 NMSA 1978].
History:
1978 Comp., § 55-12-103, enacted by Laws 1985, ch. 193, § 41; recompiled as § 55-11A-103 by Laws 2023, ch. 142, § 95.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-103 NMSA 1978 as 55-11A-103 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 98 enacted a new 55-12-103 NMSA 1978, relating to relation to article 9 of the Uniform Commercial Code and consumer laws, effective January 1, 2024.
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 NMOneSource.com.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11A - Effective Date and Transition Provisions [Effective January 1, 2024] › Section 55-11A-104 - Transition provision on change of requirement of filing. (Effective January 1, 2024.)

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; recompiled as § 55-11A-104 by Laws 2023, ch. 142, § 95.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-104 NMSA 1978 as 55-11A-104 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 99 enacted a new 55-12-104 NMSA 1978, relating to rights in controllable account, controllable electronic record and controllable payment intangible, effective January 1, 2024.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11A - Effective Date and Transition Provisions [Effective January 1, 2024] › Section 55-11A-105 - Transition provision on change of place of filing. (Effective January 1, 2024.)

(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 [55-11A-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; recompiled as § 55-11A-105 by Laws 2023, ch. 142, § 95.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-105 NMSA 1978 as 55-11A-105 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 100 enacted a new 55-12-105 NMSA 1978, relating to control of controllable electronic record, effective January 1, 2024.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11A - Effective Date and Transition Provisions [Effective January 1, 2024] › Section 55-11A-107 - Transition provisions as to priorities. (Effective January 1, 2024.)

Except as otherwise provided in Article 12[11A] [55-11A-101 to 55-11A-111 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; recompiled as § 55-11A-107 by Laws 2023, ch. 142, § 95.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-107 NMSA 1978 as 55-11A-107 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 102 enacted a new 55-12-107 NMSA 1978, relating to governing law, effective January 1, 2024.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11A - Effective Date and Transition Provisions [Effective January 1, 2024] › Section 55-11A-108 - Presumption that rule of law continues unchanged. (Effective January 1, 2024.)

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; recompiled as § 55-11A-108 by Laws 2023, ch. 142, § 95.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-108 NMSA 1978 as 55-11A-108 NMSA 1978, effective January 1, 2024.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11A - Effective Date and Transition Provisions [Effective January 1, 2024] › Section 55-11A-109 - Saving clause. (Effective January 1, 2024.)

(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; recompiled as § 55-11A-109 by Laws 2023, ch. 142, § 95.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-109 NMSA 1978 as 55-11A-109 NMSA 1978, effective January 1, 2024.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11A - Effective Date and Transition Provisions [Effective January 1, 2024] › Section 55-11A-110 - Temporary provision; effectiveness. (Effective January 1, 2024.)

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; § 55-12-110, recompiled as § 55-11A-110 by Laws 2023, ch. 142, § 95.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-110 NMSA 1978 as 55-11A-110 NMSA 1978, effective January 1, 2024.
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.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 11A - Effective Date and Transition Provisions [Effective January 1, 2024] › Section 55-11A-111 - Temporary provision; effectiveness. (Effective January 1, 2024.)

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; § 55-12-111, recompiled as § 55-11A-111 by Laws 2023, ch. 142, § 95.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-111 NMSA 1978 as 55-11A-111 NMSA 1978, effective January 1, 2024.
The 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.
2023 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.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-101 NMSA 1978 as 55-11A-101 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 96 enacted a new 55-12-101 NMSA 1978, relating to the short title of Uniform Commercial Code - Controllable Electronic Records, effective January 1, 2024.
Compiler'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.
2023 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.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-102 NMSA 1978 as 55-11A-102 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 97 enacted a new 55-12-102 NMSA 1978, relating to definitions, effective January 1, 2024.
Cross 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.
2023 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.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-103 NMSA 1978 as 55-11A-103 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 98 enacted a new 55-12-103 NMSA 1978, relating to relation to Article 9 of the Uniform Commercial Code and consumer laws, effective January 1, 2024.
Cross 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.
2023 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.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-104 NMSA 1978 as 55-11A-104 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 99 enacted a new 55-12-104 NMSA 1978, relating to rights in controllable account, controllable electronic record and controllable payment intangible, effective January 1, 2024.
Cross 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.
2023 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.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-105 NMSA 1978 as 55-11A-105 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 100 enacted a new 55-12-105 NMSA 1978, relating to control of controllable electronic record, effective January 1, 2024.
Cross 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.
2023 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.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-107 NMSA 1978 as 55-11A-107 NMSA 1978, effective January 1, 2024.
Laws 2023, ch. 142, § 102 enacted a new 55-12-107 NMSA 1978, relating to governing law, effective January 1, 2024.
Cross 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.
2023 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.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-108 NMSA 1978 as 55-11A-108 NMSA 1978, effective January 1, 2024.
Cross 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.
2023 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.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-109 NMSA 1978 as 55-11A-109 NMSA 1978, effective January 1, 2024.
2023 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.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-110 NMSA 1978 as 55-11A-110 NMSA 1978, effective January 1, 2024.
Effective 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.
2023 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.
ANNOTATIONS
Recompilations.
— Laws 2023, ch. 142, § 95 recompiled former 55-12-111 NMSA 1978 as 55-11A-111 NMSA 1978, effective January 1, 2024.
The 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.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 12 - Controllable Electronic Records (Effective January 1, 2024.) › Section 55-12-101 - Short title. (Effective January 1, 2024.)

Chapter 55, Article 12 NMSA 1978 may be cited as "Uniform Commercial Code - Controllable Electronic Records".
History:
1978 Comp., § 55-12-101, enacted by Laws 2023, ch. 142, § 96.
OFFICIAL COMMENTS
UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
Subsection headings.
— Subsection headings are not a part of the official text itself and have not been approved by the sponsors. See Section 1-107, Comment 1.
ANNOTATIONS
Effective dates.
— Laws 2023, ch. 142, § 112 made Laws 2023, ch. 142, § 96 effective January 1, 2024.
Compiler's notes.
— Laws 2023, ch. 142, § 96 enacted a new 55-12-101 NMSA 1978, effective January 1, 2024. Former 55-12-101 NMSA 1978, as enacted by Laws 1985, ch. 193, § 39, was recompiled as 55-11A-101 NMSA 1978, effective January 1, 2024.
2023 New Mexico Statutes › Chapter 55 - Uniform Commercial Code › Article 12 - Controllable Electronic Records (Effective January 1, 2024.) › Section 55-12-103 - Relation to Article 9 of the Uniform Commercial Code and consumer laws. (Effective January 1, 2024.)

(a) If there is conflict between Sections 55-12-101 through 55-12-106 NMSA 1978 and Article 9 of the Uniform Commercial Code, Article 9 governs.
(b) A transaction subject to Sections 55-12-101 through 55-12-106 NMSA 1978 is subject to any applicable rule of law that establishes a different rule for consumers and any other statute or regulation that regulates the rates, charges, agreements and practices for loans, credit sales or other extensions of credit, the Unfair Practices Act [Chapter 57, Article 12 NMSA 1978] and any consumer-protection statute or regulation.
History:
1978 Comp., § 55-12-103, enacted by Laws 2023, ch. 142, § 98.
OFFICIAL COMMENTS
UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
Source.
— Subsection (a) follows Section 3-102(b). Notwithstanding subsection (a), as is the case with respect to Article 3, Article 9 explicitly defers to Article 12 in some instances. See, e.g., Section 9-331. Subsection (b) is copied from Section 9-201(b). To the extent that Article 9 contains provisions described in subsection (b), subsections (a) and (b) are not mutually exclusive.
ANNOTATIONS
Effective dates.
— Laws 2023, ch. 142, § 112 made Laws 2023, ch. 142, § 98 effective January 1, 2024.
Compiler's notes.
— Laws 2023, ch. 142, § 98 enacted a new 55-12-103 NMSA 1978, effective January 1, 2024. Former 55-12-103 NMSA 1978, as enacted by Laws 1985, ch. 193, § 41, was recompiled as 55-11A-103 NMSA 1978, effective January 1, 2024.