New Mexico Statutes > Chapter 55 > Article 12 – Effective Date and Transition Provisions


§ 55-12-101	Effective date; [“old U.C.C.” and “new U.C.C.” defined]
§ 55-12-102	Preservation of old transition provision
§ 55-12-103	Transition to new U.C.C.; general rule
§ 55-12-104	Transition provision on change of requirement of filing
§ 55-12-105	Transition provision on change of place of filing
§ 55-12-106	Required refilings
§ 55-12-107	Transition provisions as to priorities
§ 55-12-108	Presumption that rule of law continues unchanged
§ 55-12-109	Saving clause
§ 55-12-110	Temporary provision; effectiveness
§ 55-12-111	Temporary provision; effectiveness

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.
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
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}


§ 2024.)
§ 55-12-101 v2	Short title. (Effective January 1, 2024.)
§ 55-12-102 v2	Definitions. (Effective January 1, 2024.)
§ 55-12-103 v2	Relation to Article 9 of the Uniform Commercial Code and consumer laws. (Effective January 1, 2024.)
§ 55-12-104 v2	Rights in controllable account, controllable electronic record and controllable payment intangible. (Effective January 1,
§ 55-12-105 v2	Control of controllable electronic record. (Effective
§ 55-12-106 v2	Discharge of account debtor on controllable account or controllable payment intangible. (Effective January 1, 2024.)
§ 55-12-107 v2	Governing law. (Effective January 1, 2024.)

Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
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.
Lien: A claim against real or personal property in satisfaction of a debt.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
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}

LawServer