The following security interests are perfected when they attach:

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In New Mexico Statutes 55-9-309

  • Contract: A legal written agreement that becomes binding when signed.
  • Decedent: A deceased person.
  • Statute: A law passed by a legislature.

(1) a purchase-money security interest in consumer goods, except as otherwise provided in Subsection (b) of Section 55-9-311 N.M. Stat. Ann. with respect to consumer goods that are subject to a statute or treaty described in Subsection (a) of Section 55-9- 311 NMSA 1978;

(2) an assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor’s outstanding accounts or payment intangibles;

(3) a sale of a payment intangible; (4) a sale of a promissory note;

(5) a security interest created by the assignment of a health-care-insurance receivable to the provider of the health care goods or services;

(6) a security interest arising under Section 55-2-401, 55-2-505, Subsection (3) of Section 55-2-711 or Subsection (5) of Section 55-2A-508 N.M. Stat. Ann., until the debtor obtains possession of the collateral;

(7) a security interest of a collecting bank arising under Section 55-4-210 N.M. Stat. Ann.;

(8) a security interest of an issuer or nominated person arising under Section 55-5- 118 NMSA 1978;

(9) a security interest arising in the delivery of a financial asset under Subsection (c) of Section 55-9-206 N.M. Stat. Ann.;

(10)         a security interest in investment property created by a broker or securities intermediary;

(11)         a security interest in a commodity contract or a commodity account created by a commodity intermediary;

(12)         an assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder;

(13)         a security interest created by an assignment of a beneficial interest in a decedent‘s estate; and

(14)         a sale by an individual of an account that is a right to payment of winnings in a lottery or other game of chance.