(a) As used in Chapter 55, Article 12A NMSA 1978:(1) 'adjustment date' means July 1, 2025;(2) 'Article 12' means Article 12 of the Uniform Commercial Code; and(3) 'Article 12 property' means a controllable account, controllable electronic record or controllable payment intangible.(b) The following definitions in other articles of the Uniform Commercial Code apply to this article:(1) 'controllable account', as provided in Section 55-9-102 NMSA 1978;(2) 'controllable electronic record', as provided in Section 55-12-102 NMSA 1978;(3) 'controllable payment intangible', as provided in Section 55-9-102 NMSA 1978;(4) 'electronic money', as provided in Section 55-9-102 NMSA 1978; and(5) 'financing statement', as provided in Section 55-9-102 NMSA 1978.(c) Article 1 of the Uniform Commercial Code contains general definitions and principles of construction and interpretation applicable throughout this article.History: 1978 Comp., § 55-12A-102, enacted by Laws 2023, ch. 142, § 104.OFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Subsection headings. 12A-102, enacted by Laws 2023, ch. 142, § 104.OFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Subsection headings. — Subsection headings are not a part of the official text itself and have not been approved by the sponsors.ANNOTATIONSEffective dates. — Laws 2023, ch. 142, § 112 made Laws 2023, ch. 142, § 104 effective January 1, 2024.
New Mexico Legal Code