New Mexico Statutes 55-9-807. Amendment of pre-effective-date financing statement
(a) As used in this section, “pre-effective-date financing statement” means a financing statement filed before this 2013 act takes effect.
Terms Used In New Mexico Statutes 55-9-807
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(b) After this 2013 act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in N.M. Stat. Ann. Chapter 55, Article 9, as amended by this 2013 act. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(c) Except as otherwise provided in Subsection (d) of this section, if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this 2013 act takes effect only if:
(1) the pre-effective-date financing statement and an amendment are filed in the office specified in Section 55-9-501 N.M. Stat. Ann.;
(2) an amendment is filed in the office specified in Section 55-9-501 N.M. Stat. Ann. concurrently with, or after the filing in that office of, an initial financing statement that satisfies Subsection (c) of Section 55-9-806 N.M. Stat. Ann.; or
(3) an initial financing statement that provides the information as amended and that satisfies Subsection (c) of Section 55-9-806 N.M. Stat. Ann., is filed in the office specified in Section 55-9-501 N.M. Stat. Ann..
(d) If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only pursuant to Subsections (c) and (e) of Section 55-9-805 or Section 55-9-806 N.M. Stat. Ann..
(e) Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after this 2013 act takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies Subsection (c) of Section 55-9-806 N.M. Stat. Ann. has been filed in the office specified by the law of the jurisdiction governing perfection as provided in N.M. Stat. Ann. Chapter 55, Article 9, as amended by this 2013 act as the office in which to file a financing statement.