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Assignee subject to defenses

NMSA 1978, § 59A-45-9
in effect
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59A-45-9. Assignee subject to defenses An assignee of the rights of a creditor under an insurance premium finance agreement, for the purchase of insurance primarily for personal, family or household purposes, is a holder within the meaning of the Uniform Commercial Code (55-1-101 to 55-9-507 NMSA 1978) and is subject to all defenses of the insured notwithstanding that there is an agreement to the contrary. Laws 1984, ch. 127, § 840.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18562/index.do#!b/59A-45-9Fetched: 10/20/2026

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