New Mexico § 55-9-331 Priority of rights of purchasers of controllable accounts,

New Mexico Statutes

§ 55-9-331 — Priority of rights of purchasers of controllable accounts,

New Mexico § 55-9-331

Ch. 55Uniform Commercial Code

Art. 9Secured Transactions

This text of New Mexico § 55-9-331 (Priority of rights of purchasers of controllable accounts,) 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. § 55-9-331 (2026).

Text

controllable electronic records, controllable payment intangibles, documents, instruments and securities under other articles; priority of interests in financial assets and security entitlements and protection against assertion of claim under Chapter 55, Articles 8 and 9 NMSA 1978.

(a)Chapter 55, Article 9 NMSA 1978 does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated or a protected purchaser of a security or a qualifying purchaser of a controllable account, controllable electronic record or controllable payment intangible. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in Chapter 55, Articles 3, 7, 8 and 12 NMSA 1978.

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controllable electronic records, controllable payment intangibles, documents, instruments and securities under other articles; priority of interests in financial assets and security entitlements and protection against assertion of claim under Chapter 55, Articles 8 and 9 NMSA 1978. (a) Chapter 55, Article 9 NMSA 1978 does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated or a protected purchaser of a security or a qualifying purchaser of a controllable account, controllable electronic record or controllable payment intangible. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in Chapter 55, Articles 3, 7, 8 and 12 NMSA 1978. (b) Chapter 55, Article 9 NMSA 1978 does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under Chapter 55, Articles 8 and 12 NMSA 1978. (c) Filing under Chapter 55, Article 9 NMSA 1978 does not constitute notice of a claim or defense to the holders, or purchasers, or persons described in Subsections (a) and (b) of this section.