New Mexico Statutes
§ 55-9-104 — Control of deposit account
New Mexico § 55-9-104
This text of New Mexico § 55-9-104 (Control of deposit account) 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. § 55-9-104 (2026).
Text
(a)A secured party has control of a deposit account if:
(1)the secured party is the bank with which the deposit account is maintained;
(2)the debtor, secured party and bank have agreed in a signed record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor;
(3)the secured party becomes the bank's customer with respect to the deposit account; or (4) another person, other than the debtor:
(A)has control of the deposit account and acknowledges that it has control on behalf of the secured party; or (B) obtains control of the deposit account after having acknowledged that it will obtain control of the deposit account on behalf of the secured party.
(b)A secured party that
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Legislative History
1978 Comp., § 55-9-104, enacted by Laws 2001, ch. 139, § 4; 2023, ch. 142, §
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Repealed§ 55-1-110
Repealed§ 55-1-201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 § 55-9-104, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/55/55-9-104.