New Mexico § 55-12A-303 Security interest unperfected before January 1, 2024

New Mexico Statutes

§ 55-12A-303 — Security interest unperfected before January 1, 2024

New Mexico § 55-12A-303

Ch. 55Uniform Commercial Code

Art. 12ATransitional Provisions for Uniform Commercial Code

This text of New Mexico § 55-12A-303 (Security interest unperfected before January 1, 2024) 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. § 55-12A-303 (2026).

Text

A security interest that is enforceable immediately before January 1, 2024 but is unperfected at that time:

(1)remains an enforceable security interest until the adjustment date;

(2)remains enforceable thereafter if the security interest becomes enforceable pursuant to Section 55-9-203 NMSA 1978, as amended by this 2023 act, on January 1, 2024 or before the adjustment date; and (3) becomes perfected:

(A)without further action on January 1, 2024 if the requirements for perfection pursuant to this 2023 act are satisfied before or at that time; or (B) when the requirements for perfection are satisfied if the requirements are satisfied after that time.

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A security interest that is enforceable immediately before January 1, 2024 but is unperfected at that time: (1) remains an enforceable security interest until the adjustment date; (2) remains enforceable thereafter if the security interest becomes enforceable pursuant to Section 55-9-203 NMSA 1978, as amended by this 2023 act, on January 1, 2024 or before the adjustment date; and (3) becomes perfected: (A) without further action on January 1, 2024 if the requirements for perfection pursuant to this 2023 act are satisfied before or at that time; or (B) when the requirements for perfection are satisfied if the requirements are satisfied after that time.