Collections
New Mexico Statutes Annotated 1978

9

Secured Transactions

State of New Mexico

55-9-101Short title 55-9-102Definitions and index of definitions 55-9-103Purchase-money security interest; application of payments; burden of establishing 55-9-104Control of deposit account 55-9-105Control of electronic copy of record evidencing chattel paper 55-9-105AControl of electronic money 55-9-106Control of investment property 55-9-107Control of letter-of-credit right 55-9-107AControl of controllable electronic record, account or controllable payment intangible 55-9-107BNo requirement to acknowledge or confirm; no duties 55-9-108Sufficiency of description 55-9-109Scope 55-9-110Security interests arising under Chapter 55, Article 2 or 2A NMSA 1978 55-9-111RepealedRepealed 55-9-112Superseded 55-9-113Superseded 55-9-114Superseded 55-9-115Superseded 55-9-116Superseded 55-9-201General effectiveness of security agreement 55-9-202Title to collateral immaterial 55-9-203Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites 55-9-204After-acquired property; future advances 55-9-205Use or disposition of collateral permissible 55-9-206Security interest arising in purchase or delivery of financial asset 55-9-207Rights and duties of secured party having possession or control of collateral 55-9-208Additional duties of secured party having control of collateral 55-9-209Duties of secured party if account debtor has been notified of assignment 55-9-210Request for accounting; request regarding list of collateral or statement of account 55-9-301Law governing perfection and priority of security interests 55-9-302Law governing perfection and priority of agricultural liens 55-9-303Law governing perfection and priority of security interests in goods covered by a certificate of title 55-9-304Law governing perfection and priority of security interests in deposit accounts 55-9-305Law governing perfection and priority of security interests in investment property 55-9-306Law governing perfection and priority of security interests in letter-of-credit rights 55-9-306ALaw governing perfection and priority of security interests in chattel paper 55-9-306BLaw governing perfection and priority of security interests in controllable accounts, controllable electronic records and controllable payment intangibles 55-9-307Location of debtor 55-9-308When security interest or agricultural lien is perfected; continuity of perfection 55-9-309Security interest perfected upon attachment 55-9-310When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply 55-9-311Perfection of security interests in property subject to certain statutes, regulations and treaties 55-9-312Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights and money; perfection by permissive filing; temporary perfection without filing or transfer of possession 55-9-313When possession by or delivery to secured party perfects security interest without filing 55-9-314Perfection by control 55-9-314APerfection by possession and control of chattel paper 55-9-315Secured party's rights on disposition of collateral and in proceeds 55-9-316Effect of change in governing law 55-9-317Interests that take priority over or take free of security interest or agricultural lien 55-9-318No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers 55-9-319Rights and title of consignee with respect to creditors and purchasers 55-9-320Buyer of goods 55-9-321Licensee of general intangible and lessee of goods in ordinary course of business 55-9-322Priorities among conflicting security interests in and agricultural liens on same collateral 55-9-323Future advances 55-9-324Priority of purchase-money security interests 55-9-325Priority of security interests in transferred collateral 55-9-326Priority of security interests created by new debtor 55-9-326APriority of security interest in controllable account, controllable electronic record and controllable payment intangible 55-9-327Priority of security interests in deposit account 55-9-328Priority of security interests in investment property 55-9-329Priority of security interests in letter-of-credit right 55-9-330Priority of purchaser of chattel paper or instrument 55-9-331Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments and securities under other articles; priority of interests in financial assets and security entitlements and protection against assertion of claim under Chapter 55, Articles 8 and 9 NMSA 1978 55-9-332Transfer of money; transfer of funds from deposit account 55-9-333Priority of certain liens arising by operation of law 55-9-334Priority of security interests in fixtures 55-9-335Accessions 55-9-336Commingled goods 55-9-337Priority of security interests in goods covered by certificate of title 55-9-338Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information 55-9-339Priority subject to subordination 55-9-340Effectiveness of right of recoupment or set-off against deposit account 55-9-341Bank's rights and duties with respect to deposit account 55-9-342Bank's right to refuse to enter into or disclose existence of control agreement 55-9-401Alienability of debtor's rights 55-9-402Secured party not obligated on contract of debtor or in tort 55-9-403Agreement not to assert defenses against assignee 55-9-404Rights acquired by assignee; claims and defenses against assignee 55-9-405Modification of assigned contract 55-9-406Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective 55-9-407Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest 55-9-408Restrictions on assignment of promissory notes, health-care-insurance receivables and certain general intangibles ineffective 55-9-409Restrictions on assignment of letter-of-credit rights ineffective 55-9-501Filing office 55-9-502Contents of financing statement; record of mortgage as financing statement; time of filing financing statement 55-9-503Name of debtor and secured party 55-9-504Indication of collateral 55-9-505Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions 55-9-506Effect of errors or omissions 55-9-507Effect of certain events on effectiveness of financing statement 55-9-508Effectiveness of financing statement if new debtor becomes bound by security agreement 55-9-509Persons entitled to file a record 55-9-510Effectiveness of filed record 55-9-511Secured party of record 55-9-512Amendment of financing statement 55-9-513Termination statement 55-9-514Assignment of powers of secured party of record 55-9-515Duration and effectiveness of financing statement; effect of lapsed financing statement 55-9-516What constitutes filing; effectiveness of filing 55-9-517Effect of indexing errors 55-9-518Claim concerning inaccurate or wrongfully filed record 55-9-519Numbering, maintaining and indexing records; communicating information provided in records 55-9-520Acceptance and refusal to accept record 55-9-521Form of financing statement and amendment; records 55-9-522Maintenance and destruction of records 55-9-523Information from secretary of state 55-9-524Delay by secretary of state 55-9-525Fees 55-9-526Filing-office rules 55-9-601Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes 55-9-602Waiver and variance of rights and duties 55-9-603Agreement on standards concerning rights and duties 55-9-604Procedure if security agreement covers real property or fixtures 55-9-605Unknown debtor or secondary obligor 55-9-606Time of default for agricultural lien 55-9-607Collection and enforcement by secured party 55-9-608Application of proceeds of collection or enforcement; liability for deficiency and right to surplus 55-9-609Secured party's right to take possession after default 55-9-610Disposition of collateral after default 55-9-611Notification before disposition of collateral 55-9-612Timeliness of notification before disposition of collateral 55-9-613Contents and form of notification before disposition of collateral; general 55-9-614Contents and form of notification before disposition of collateral; consumer-goods transaction 55-9-615Application of proceeds of disposition; liability for deficiency and right to surplus 55-9-616Explanation of calculation of surplus or deficiency 55-9-617Rights of transferee of collateral 55-9-618Rights and duties of certain secondary obligors 55-9-619Transfer of record or legal title 55-9-620Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral 55-9-621Notification of proposal to accept collateral 55-9-622Effect of acceptance of collateral 55-9-623Right to redeem collateral 55-9-624Waiver 55-9-625Remedies for secured party's failure to comply with article 55-9-626Action in which deficiency or surplus is in issue 55-9-627Determination of whether conduct was commercially reasonable 55-9-628Nonliability and limitation on liability of secured party; liability of secondary obligor 55-9-701Effective date 55-9-702Saving clause 55-9-703Temporary transition provision; security interest perfected before effective date 55-9-704Temporary transition provision; security interest unperfected before effective date 55-9-705Temporary transition provision; effectiveness of action taken before effective date 55-9-706Temporary transition provision; when initial financing statement suffices to continue effectiveness of financing statement 55-9-707Temporary transition provision; amendment of pre-effective-date financing statement 55-9-708Temporary transition provision; persons entitled to file initial financing statement or continuation statement 55-9-709Temporary transition provision; priority 55-9-710RepealedRepealed 55-9-801Effective date 55-9-802Applicability 55-9-803Security interest perfected before effective date 55-9-804Security interest unperfected before effective date 55-9-805Effectiveness of action taken before effective date 55-9-806When initial financing statement suffices to continue effectiveness of financing statement 55-9-807Amendment of pre-effective-date financing statement 55-9-808Person entitled to file initial financing statement or continuation statement 55-9-809Priority