New Mexico Statutes
§ 55-3-406 — Negligence contributing to forged signature or alteration
New Mexico § 55-3-406
This text of New Mexico § 55-3-406 (Negligence contributing to forged signature or alteration) 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. § 55-3-406 (2026).
Text
of instrument.
(a)A person whose failure to exercise ordinary care substantially contributes to an alteration of an instrument or to the making of a forged signature on an instrument is precluded from asserting the alteration or the forgery against a person who, in good faith, pays the instrument or takes it for value or for collection.
(b)Under Subsection (a), if the person asserting the preclusion fails to exercise ordinary care in paying or taking the instrument and that failure substantially contributes to loss, the loss is allocated between the person precluded and the person asserting the preclusion according to the extent to which the failure of each to exercise ordinary care contributed to the loss.
(c)Under Subsection (a), the burden of proving failure to exercise ordinary care
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
1978 Comp., § 55-3-406, enacted by Laws 1992, ch. 114, § 131.
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Repealed§ 55-1-110
Repealed§ 55-1-201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 § 55-3-406, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/55/55-3-406.