New Mexico Statutes
§ 55-9-405 — Modification of assigned contract
New Mexico § 55-9-405
This text of New Mexico § 55-9-405 (Modification of assigned contract) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.M. Stat. Ann. § 55-9-405 (2026).
Text
(a)A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of contract by the assignor. This subsection is subject to Subsections (b) through (d) of this section.
(b)Subsection (a) of this section applies to the extent that:
(1)the right to payment or a part thereof under an assigned contract has not been fully earned by performance; or (2) the right to payment or a part thereof has been fully earned by performance and the account debtor has not received notification of the assignment under Subsection (a) of Section 55-9-406 NMSA 1978.
(c)This section is subject to l
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Legislative History
1978 Comp., § 55-9-405, enacted by Laws 2001, ch. 139, § 67.
Nearby Sections
15
§ 55-1-101
Short titles§ 55-1-102
Scope of article§ 55-1-104
Construction against implicit repeal§ 55-1-105
Severability§ 55-1-106
Use of singular and plural; gender§ 55-1-107
Section captions§ 55-1-109
Repealed§ 55-1-110
Repealed§ 55-1-201
General definitions§ 55-1-202
Notice; knowledge§ 55-1-204
Value§ 55-1-205
Reasonable time; seasonablenessCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 55-9-405, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/55-9-405.