New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 6 - BUSINESS PRACTICES - UNIFORM COMMERCIAL CODE › Part 2 - FILING PROVISIONS › Section 12.6.2.28 - GROUNDS FOR REFUSAL OF UCC DOCUMENT

Current through Register Vol. 35, No. 13, July 16, 2024
The following grounds are the sole grounds for the filing
				  officer's refusal to accept a UCC document for filing. As used herein, the term
				  "legible" is not limited to refer only to written expressions on paper: it
				  requires a machine-readable transmission for electronic transmissions and an
				  otherwise readily decipherable transmission in other cases.
A. Debtor name and address. An initial
				financing statement or an amendment that purports to add a debtor shall be
				refused if the document fails to include a legible debtor name and address for
				a debtor, in the case of an initial financing statement, or for the debtor
				purporting to be added in the case of such an amendment. If the document
				contains more than one debtor name or address and some names or addresses are
				missing or illegible, the filing officer shall index the legible name and
				address pairings, and provide a notice to the remitter containing the file
				number of the document, identification of the debtor name(s) that was (were)
				indexed, and a statement that debtors with illegible or missing names or
				addresses were not indexed.
B.
				Additional debtor identification. An initial financing statement or an
				amendment adding one or more debtors shall be refused if the document fails to
				identify whether each named debtor (or each added debtor in the case of such an
				amendment) is an individual or an organization, if the last name of each
				individual debtor is not identified, or if, for each debtor identified as an
				organization.
C. Secured party name
				and address. An initial financing statement, an amendment purporting to add a
				secured party of record, or an assignment, shall be refused if the document
				fails to include a legible secured party (or assignee in the case of an
				assignment) name and address. If the document contains more than one secured
				party (or assignee) name or address and some names or addresses are missing or
				illegible, the filing officer shall refuse the UCC document.
D. Lack of identification of initial
				financing statement. A UCC document other than an initial financing statement
				shall be refused if the document does not provide a file number of a financing
				statement in the UCC information management system that has not
				lapsed.
E. Identifying information.
				A UCC document that does not identify itself as an amendment or identify an
				initial financing statement to which it relates, as required by Chapter 55,
				Article 9, Sections 512, 513, 514 or 518 NMSA 1978, is an initial financing
				statement.
F. Timeliness of
				continuation. A continuation shall be refused if it is not received during the
				six month period concluding on the day upon which the related financing
				statement would lapse. In the event that the day upon which the related
				financing statement would lapse falls on a day on which the filing office is
				not open, the last day is then the first business day immediately preceding the
				day that the office is closed. A postmark stamped on an envelope by the U.S.
				postal service does not cause timely filing of the continuation if the
				continuation is received by the filing office after the last day upon which the
				related financing statement would lapse.
(1)
				First day permitted. The first day on which a continuation may be filed is the
				date of the month corresponding to the date upon which the financing statement
				would lapse, six months preceding the month in which the financing statement
				would lapse. If there is no such corresponding date during the sixth month
				preceding the month in which the financing statement would lapse, the first day
				on which a continuation may be filed is the last day of the sixth month
				preceding the month in which the financing statement would lapse, although
				filing by certain means may not be possible on such date if the filing office
				is not open on such date.
(2) Last
				day permitted. The last day on which a continuation may be filed is the date
				upon which the financing statement lapses.