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§ 55-9-804 NMSA 1978

Security interest unperfected before effective date

Known as the Uniform Commercial Code

The act spans §§ 55–55 (591 sections).

1978 Comp., § 55-9-804, enacted by Laws 2013, ch. 137, § 23.

A security interest that is an unperfected security interest immediately before this 2013 act takes effect becomes a perfected security interest:

(a) without further action, when this 2013 act takes effect, if the applicable requirements for perfection under Chapter 55, Article 9 NMSA 1978, as amended by this 2013 act, are satisfied before or at that time; or

(b) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.