New Mexico Statutes 55-12-103 v2. Relation to Article 9 of the Uniform Commercial Code and consumer laws. (Effective January 1, 2024.)
Current as of: 2023 | Check for updates
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(a) If there is conflict between Sections 55-12-101 through 55-12-106 N.M. Stat. Ann. and Article 9 of the Uniform Commercial Code, Article 9 governs.
Terms Used In New Mexico Statutes 55-12-103 v2
- Statute: A law passed by a legislature.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
(b) A transaction subject to Sections 55-12-101 through 55-12-106 N.M. Stat. Ann. is subject to any applicable rule of law that establishes a different rule for consumers and any other statute or regulation that regulates the rates, charges, agreements and practices for loans, credit sales or other extensions of credit, the Unfair Practices Act [N.M. Stat. Ann. Chapter 57, Article 12] and any consumer-protection statute or regulation.