Security interest unperfected before effective date.

  1. Law
  2. New Mexico Statutes
  3. Uniform Commercial Code
  4. Secured Transactions
  5. SECURITY INTEREST
  6. Security interest unperfected before effective date.

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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.

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

ANNOTATIONS

Effective dates. — Laws 2013, ch. 137, § 20 made the provisions of Laws 2013, ch. 137 effective July 1, 2013.


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