New Mexico Statutes
§ 55-9-110 — Security interests arising under Chapter 55, Article 2 or
2A NMSA 1978. A security interest arising under Section 55-2-401, 55-2-505, Subsection (3) of Section 55-2-711 or Subsection (5) of Section 55-2A-508 NMSA 1978 is subject to Chapter 55, Article 9 NMSA 1978. However, until the debtor obtains possession of the goods:
(1)the security interest is enforceable, even if Paragraph (3) of Subsection (b) of Section 55-9-203 NMSA 1978 has not been satisfied;
(2)filing is not required to perfect the security interest;
(3)the rights of the secured party after default by the debtor are governed by Chapter 55, Article 2 or 2A NMSA 1978; and (4) the security interest has priority over a conflicting security interest created by the debtor.
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New Mexico § 55-9-110 (Security interests arising under Chapter 55, Article 2 or) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1978 Comp., § 55-9-110, enacted by Laws 2001, ch. 139, § 10.
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Repealed§ 55-1-110
Repealed§ 55-1-201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; seasonableness