(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. (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. (2) the pre-effective-date financing statement was filed in an office in another state; and

3. (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:

4. (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

5. (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:

6. (1) satisfy the requirements of Part 5, as amended by this 2013 act, for an initial financing statement;
7. (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
8. (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.