New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 6 - BUSINESS PRACTICES - UNIFORM COMMERCIAL CODE › Part 2 - FILING PROVISIONS › Section 12.6.2.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
The following terms shall have the respective meanings
				  provided in this rule. Terms not defined in this rule which are defined in the
				  UCC shall have the respective meanings accorded such terms in the UCC.
A. "Amendment" means a UCC document that
				amends the information contained in a financing statement. Amendments include
				assignments, continuations and terminations.
B. "Assignment" is an amendment that assigns
				all or a part of a secured party's power to authorize an amendment to a
				financing statement.
C.
				"Continuation" means an amendment that continues the effectiveness of a
				financing statement.
D.
				"Information statement" means a UCC document that indicates that a financing
				statement is inaccurate or wrongfully filed.
E. "File number" means the unique identifying
				information assigned to a financing statement by the filing officer for the
				purpose of identifying the financing statement and UCC documents relating to
				the financing statement in the filing officer's information management system.
				For a financing statement with an initial financing statement filed prior to
				July 1, 2001, the file number consists of a 2 digit year, 2 digit month, 2
				digit day, and a 3 digit sequential number (yymmddXXX). For a financing
				statement with an initial financing statement filed after June 30, 2001 but
				before March 26, 2003, the file number consists of a 4 digit year, 2 digit
				month, 2 digit day, 3 digit sequential number, and 2 digit check number
				(yyyymmddXXXcc). For a financing statement with an initial financing statement
				filed on or after March 26, 2003, the number includes three segments; the year
				of filing expressed as a four digit number, followed by a unique seven digit
				number assigned to financing statement by the filing office and ending with a
				one digit verification alphabetic character assigned by the filing office but
				mathematically derived from the numbers in the first two segments. The same
				file format will be used for amendments as initial filing statements, including
				the verification alphabetic character. Though the verification alphabetic
				character is not as important here, it guarantees the integrity of the file
				number. The filing number bears no relation to the time of filing and is not an
				indicator of priority.
F. "Filing
				office" and "filing officer" mean the secretary of state's office, operations
				division.
G. "Filing officer
				statement" means a statement entered into the filing office's information
				system to correct an error by the filing office.
H. "Financing statement" means a record or
				records composed of an initial financing statement and any filed record(s)
				relating to the initial financing statement.
I. "Individual debtor name" means any name
				provided as a debtor name in a UCC record in a format that identifies the name
				as that of a debtor who is an individual, without regard to the nature or
				character of the name or to the nature or character of the actual
				debtor.
J. "Initial financing
				statement" means a UCC document that does not identify itself as an amendment
				or identify an initial financing statement to which it relates, as required by
				Sections-55-9-512,
				55-9-513,
				55-9-514
				or
				55-9-518
				NMSA 1978.
K. "Organization" means
				a legal person who is not an individual as defined in item H of this
				section.
L. "Remitter" means a
				person who tenders a UCC document to the filing office for filing, whether the
				person is a filer or an agent of a filer responsible for tendering the document
				for filing. "Remitter" does not include a person responsible merely for the
				delivery of the document to the filing office, such as the postal service or a
				courier service but does include a service provider who acts as a filer's
				representative in the filing process.
M. "Secured party of record" means, with
				respect to a financing statement, a person whose name is provided as the name
				of a secured party or a representative of the secured party in an initial
				financing statement that has been filed. If an initial financing statement is
				filed under Chapter 55, Article 9 Section 514(a) NMSA 1978, the assignee named
				in the initial financing statement is the secured party of record with respect
				to the financing statement. If an amendment of a financing statement which
				provides the name of a person as a secured party or a representative of a
				secured party is filed, the person named in the amendment is a secured party of
				record. If an amendment is filed under Section 55-9-514(b) NMSA 1978, the
				assignee named in the amendment is a secured party of record. A person remains
				a secured party of record until the filing of an amendment of the financing
				statement which deletes the person.
N. "Termination" means an amendment intended
				to indicate that the related financing statement has ceased to be effective
				with respect to the secured party authorizing the termination.
O. "UCC" means the Uniform Commercial Code as
				adopted in this state and in effect from time to time.
P. "UCC document" means an initial financing
				statement, an amendment, an assignment, a continuation, a termination or a
				information statement. The word "document" in the term "UCC document" shall not
				be deemed to refer exclusively to paper or paper-based writings; it being
				understood that UCC documents may be expressed or transmitted electronically or
				through media other than such writings. (Note: this definition is used for the
				purpose of these rules only. The use of the term "UCC document" in these rules
				has no relation to the definition of the term "document" in Section
				55-9-102(a)(30) NMSA 1978.)