New Mexico § 55-9-110 Security interests arising under Chapter 55, Article 2 or

New Mexico Statutes

§ 55-9-110 — Security interests arising under Chapter 55, Article 2 or

New Mexico § 55-9-110

Ch. 55Uniform Commercial Code

Art. 9Secured Transactions

This text of New Mexico § 55-9-110 (Security interests arising under Chapter 55, Article 2 or) 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. § 55-9-110 (2026).

Text

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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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.