New Mexico § 55-9-706 Temporary transition provision; when initial financing

New Mexico Statutes

§ 55-9-706 — Temporary transition provision; when initial financing

New Mexico § 55-9-706

Ch. 55Uniform Commercial Code

Art. 9Secured Transactions

This text of New Mexico § 55-9-706 (Temporary transition provision; when initial financing) 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. § 55-9-706 (2026).

Text

statement suffices to continue effectiveness of financing statement.

(a)The filing of an initial financing statement in the office specified in Section 55-9- 501 NMSA 1978 continues the effectiveness of a financing statement filed before July 1, 2001 if:

(1)the filing of an initial financing statement in that office would be effective to perfect a security interest under this act;

(2)the pre-effective-date financing statement was filed in an office in another state or another office in this state; and (3) the initial financing statement satisfies Subsection (c) of this section.

(b)The filing of an initial financing statement under Subsection (a) of this section continues the effectiveness of the pre-effective-date financing statement:

(1)if the initial financing statement is filed bef

Free access — add to your briefcase to read the full text and ask questions with AI

statement suffices to continue effectiveness of financing statement. (a) The filing of an initial financing statement in the office specified in Section 55-9- 501 NMSA 1978 continues the effectiveness of a financing statement filed before July 1, 2001 if: (1) the filing of an initial financing statement in that office would be effective to perfect a security interest under this act; (2) the pre-effective-date financing statement was filed in an office in another state or another office in this state; and (3) the initial financing statement satisfies Subsection (c) of this section. (b) The filing of an initial financing statement under Subsection (a) of this section continues the effectiveness of the pre-effective-date financing statement: (1) if the initial financing statement is filed before July 1, 2001, for the period provided in Section 55-9-403 NMSA 1978 as it existed prior to July 1, 2001, with respect to a financing statement; and (2) if the initial financing statement is filed after July 1, 2001, for the period provided in Section 55-9-515 NMSA 1978 with respect to an initial financing statement. (c) To be effective for purposes of Subsection (a) of this section, an initial financing statement must: (1) satisfy the requirements of Sections 55-9-501 through 55-9-526 NMSA 1978 for an initial financing statement; (2) identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and (3) indicate that the pre-effective-date financing statement remains effective.