1. (a) As used in Chapter 55, Article 12A NMSA 1978:

   1. (1) "adjustment date" means July 1, 2025;
   2. (2) "Article 12" means Article 12 of the Uniform Commercial Code; and
   3. (3) "Article 12 property" means a controllable account, controllable electronic record or controllable payment intangible.

2. (b) The following definitions in other articles of the Uniform Commercial Code apply to this article:

   1. (1) "controllable account", as provided in Section 55-9-102 NMSA 1978;
   2. (2) "controllable electronic record", as provided in Section 55-12-102 NMSA 1978;
   3. (3) "controllable payment intangible", as provided in Section 55-9-102 NMSA 1978;
   4. (4) "electronic money", as provided in Section 55-9-102 NMSA 1978; and
   5. (5) "financing statement", as provided in Section 55-9-102 NMSA 1978.

3. (c) Article 1 of the Uniform Commercial Code contains general definitions and principles of construction and interpretation applicable throughout this article.

   OFFICIAL COMMENTS

4. UCC Official Comments © by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
5. Subsection headings. — Subsection headings are not a part of the official text itself and have not been approved by the sponsors.

History: 1978 Comp., § 55-12A-102, enacted by Laws 2023, ch. 142, § 104.

ANNOTATIONS

Effective dates. — Laws 2023, ch. 142, § 112 made Laws 2023, ch. 142, § 104 effective January 1, 2024.