NMSA 1978, § 55-9-801 Effective date
55-9-801. Effective date
The effective date of the provisions of this 2013 act is July 1, 2013.
1978 Comp., § 55-9-801, enacted by Laws 2013, ch. 137, § 20.
SECURITY INTEREST
NMSA 1978 ch. 55, art. 9, pt. 8
in effectNMSA 1978, § 55-9-802 Applicability
55-9-802. Applicability
(a) Except as otherwise provided in this part, this 2013 act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this 2013 act takes effect.
(b) This 2013 act does not affect an action, case or proceeding commenced before this 2013 act takes effect.
1978 Comp., § 55-9-802, enacted by Laws 2013, ch. 137, § 21.
NMSA 1978, § 55-9-803 Security interest perfected before effective date
55-9-803. Security interest perfected before effective date
(a) A security interest that is a perfected security interest immediately before this 2013 act takes effect is a perfected security interest under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, if, when this 2013 act takes effect, the applicable requirements for attachment and perfection under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, are satisfied without further action.
(b) Except as otherwise provided in Section 55-9-805 NMSA 1978, if, immediately before this 2013 act takes effect, a security interest is a perfected security interest but the applicable requirements for perfection under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, are not satisfied when this act takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, are satisfied within one year after this 2013 act takes effect.
1978 Comp., § 55-9-803, enacted by Laws 2013, ch. 137, § 22.
NMSA 1978, § 55-9-804 Security interest unperfected before effective date
55-9-804. Security interest unperfected before effective date
A security interest that is an unperfected security interest immediately before this 2013 act takes effect becomes a perfected security interest:
(a) without further action, when this 2013 act takes effect, if the applicable requirements for perfection under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, are satisfied before or at that time; or
(b) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.
1978 Comp., § 55-9-804, enacted by Laws 2013, ch. 137, § 23.
NMSA 1978, § 55-9-805 Effectiveness of action taken before effective date
55-9-805. Effectiveness of action taken before effective date
(a) The filing of a financing statement before this 2013 act takes effect is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act.
(b) This 2013 act does not render ineffective an effective financing statement that, before this 2013 act takes effect, is filed and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in Chapter 55, Article 9 NMSA 1978 as it existed before amendment. However, except as otherwise provided in Subsections (c) and (d) of this section and Section 55-9-806 NMSA 1978, the financing statement ceases to be effective:
(1) if the financing statement is filed in this state at the time the financing statement would have ceased to be effective had this 2013 act not taken effect; or
(2) if the financing statement is filed in another jurisdiction, at the earlier of:
(A) the time the financing statement would have ceased to be effective under the law of that jurisdiction; or
(B) June 30, 2018.
(c) The filing of a continuation statement after this 2013 act takes effect does not continue the effectiveness of a financing statement filed before this 2013 act takes effect. However, upon the timely filing of a continuation statement after this 2013 act takes effect, and in accordance with the law of the jurisdiction governing perfection as provided in Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, the effectiveness of a financing statement filed in the same office in that jurisdiction before this 2013 act takes effect continues for the period provided by the law of that jurisdiction.
(d) Subparagraph (B) of Paragraph (2) of Subsection (b) of this section applies to a financing statement that, before this 2013 act takes effect, is filed against a transmitting utility and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in Chapter 55, Article 9 NMSA 1978, as it existed before amendment, only to the extent that Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, provides that the law of a jurisdiction other than the jurisdiction in which the financing statement is filed governs perfection of a security interest in collateral covered by the financing statement.
(e) A financing statement that includes a financing statement filed before this 2013 act takes effect and a continuation statement filed after this 2013 act takes effect is effective only to the extent that it satisfies the requirements of Part 5, as amended by this 2013 act, for an initial financing statement. A financing statement that indicates that the debtor is a decedent's estate indicates that the collateral is being administered by a personal representative within the meaning of Paragraph (2) of Subsection (a) of Section 55-9-503 NMSA 1978, as amended by this 2013 act. A financing statement that indicates that the debtor is a trust, or is a trustee acting with respect to property held in trust, indicates that the collateral is held in a trust within the meaning of Paragraph (3) of Subsection (a) of Section 55-9-503 NMSA 1978, as amended by this 2013 act.
1978 Comp., § 55-9-805, enacted by Laws 2013, ch. 137, § 24.
NMSA 1978, § 55-9-806 When initial financing statement suffices to continue effectiveness of financing statement
55-9-806. When initial financing statement suffices to continue effectiveness of financing statement
(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) 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) the pre-effective-date financing statement was filed in an office in another state; and
(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:
(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
(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:
(1) satisfy the requirements of Part 5, as amended by this 2013 act, for an initial financing statement;
(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
(3) indicate that the pre-effective-date financing statement remains effective.
1978 Comp., § 55-9-806, enacted by Laws 2013, ch. 137, § 25.
NMSA 1978, § 55-9-807 Amendment of pre-effective-date financing statement
55-9-807. Amendment of pre-effective-date financing statement
(a) As used in this section, "pre-effective-date financing statement" means a financing statement filed before this 2013 act takes effect.
(b) After this 2013 act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(c) Except as otherwise provided in Subsection (d) of this section, if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this 2013 act takes effect only if:
(1) the pre-effective-date financing statement and an amendment are filed in the office specified in Section 55-9-501 NMSA 1978;
(2) an amendment is filed in the office specified in Section 55-9-501 NMSA 1978 concurrently with, or after the filing in that office of, an initial financing statement that satisfies Subsection (c) of Section 55-9-806 NMSA 1978; or
(3) an initial financing statement that provides the information as amended and that satisfies Subsection (c) of Section 55-9-806 NMSA 1978, is filed in the office specified in Section 55-9-501 NMSA 1978.
(d) If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only pursuant to Subsections (c) and (e) of Section 55-9-805 or Section 55-9-806 NMSA 1978.
(e) Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after this 2013 act takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies Subsection (c) of Section 55-9-806 NMSA 1978 has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act as the office in which to file a financing statement.
1978 Comp., § 55-9-807, enacted by Laws 2013, ch. 137, § 26.
NMSA 1978, § 55-9-808 Person entitled to file initial financing statement or continuation statement
55-9-808. Person entitled to file initial financing statement or continuation statement
A person may file an initial financing statement or a continuation statement under this part if:
(a) the secured party of record authorizes the filing; and
(b) the filing is necessary under this part:
(1) to continue the effectiveness of a financing statement filed before this 2013 act takes effect; or
(2) to perfect or continue the perfection of a security interest.
1978 Comp., § 55-9-808, enacted by Laws 2013, ch. 137, § 27.
NMSA 1978, § 55-9-809 Priority
55-9-809. Priority
This 2013 act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims are established before this 2013 act takes effect, Chapter 55, Article 9 NMSA 1978, as it existed before amendment, determines priority.
1978 Comp., § 55-9-809, enacted by Laws 2013, ch. 137, § 28.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18558/index.doFetched: 10/20/2026