New Mexico Statutes 55-9-709. Temporary transition provision; priority
(a) This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, N.M. Stat. Ann. Chapter 55, Article 9 as it existed before that date determines priority.
(b) For purposes of Subsection (a) of Section 55-9-322 N.M. Stat. Ann., the priority of a security interest that becomes enforceable under Section 55-9-203 N.M. Stat. Ann. dates from July 1, 2001 if the security interest is perfected under this act by the filing of a financing statement before that date which would not have been effective to perfect the security interest under N.M. Stat. Ann. Chapter 55, Article 9 as it existed before July 1, 2001. This subsection does not apply to conflicting security interests, each of which is perfected by the filing of such a financing statement.