(a) A financing statement substantially satisfying the requirements of Sections 55-9- 501 through 55-9-526 N.M. Stat. Ann. is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.

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(b) Except as otherwise provided in Subsection (c) of this section, a financing statement that fails sufficiently to provide the name of the debtor in accordance with Subsection (a) of Section 55-9-503 N.M. Stat. Ann. is seriously misleading.

(c) If a search of the records of the filing office under the debtor’s correct name, using the filing office’s standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with Subsection (a) of Section 55-9-503 N.M. Stat. Ann., the name provided does not make the financing statement seriously misleading.

(d) For purposes of Subsection (b) of Section 55-9-508 N.M. Stat. Ann., the “debtor’s correct name” in Subsection (c) of this section means the correct name of the new debtor.