New Mexico § 55-12A-305 Priority

New Mexico Statutes

§ 55-12A-305 — Priority

New Mexico § 55-12A-305

Ch. 55Uniform Commercial Code

Art. 12ATransitional Provisions for Uniform Commercial Code

This text of New Mexico § 55-12A-305 (Priority) 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-305 (2026).

Text

(a)Subject to Subsections (b) and (c) of this section, this 2023 act determines the priority of conflicting claims to collateral.

(b)Subject to Subsection (c) of this section, if the priorities of claims to collateral were established before January 1, 2024, Article 9 of the Uniform Commercial Code as in effect before January 1, 2024 determines priority.

(c)On the adjustment date, to the extent the priorities determined by Article 9 of the Uniform Commercial Code as amended by this 2023 act modify the priorities established before January 1, 2024, the priorities of claims to Article 12 property and electronic money established before January 1, 2024 cease to apply.

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(a) Subject to Subsections (b) and (c) of this section, this 2023 act determines the priority of conflicting claims to collateral. (b) Subject to Subsection (c) of this section, if the priorities of claims to collateral were established before January 1, 2024, Article 9 of the Uniform Commercial Code as in effect before January 1, 2024 determines priority. (c) On the adjustment date, to the extent the priorities determined by Article 9 of the Uniform Commercial Code as amended by this 2023 act modify the priorities established before January 1, 2024, the priorities of claims to Article 12 property and electronic money established before January 1, 2024 cease to apply.