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2001 vol. II 1057 (2001)

handle is hein.ssl/ssnm0003 and id is 1 raw text is: Laws of 2001

Chapter 139
1                                AN ACT
2    RELATING TO COMMERCIAL TRANSACTIONS; REVISING THE SECURED
3    TRANSACTIONS ARTICLE OF THE UNIFORM COMMERCIAL CODE; AMENDING
4    OTHER LAWS TO CONFORM TO THE REVISED PROVISIONS; AMENDING,
5    REPEALING AND ENACTING SECTIONS OF THE NMSA 1978.
6
7    BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
8         Section 1. Section 55-9-101 NMSA 1978 (being Laws 1961,
9    Chapter 96, Section 9-101) is repealed and a new Section
10    55-9-101 NMSA 1978 is enacted to read:
11         55-9-101. SHORT TITLE.--Chapter 55, Article 9 NMSA
12    1978 may be cited as the Uniform Commercial Code-Secured
13    Transactions.
14         Section 2. Section 55-9-102 NMSA 1978 (being Laws 1961,
15   Chapter 96, Section 9-102, as amended) is repealed and a new
16    Section 55-9-102 NMSA 1978 is enacted to read:
17         55-9-102. DEFINITIONS AND INDEX OF DEFINITIONS.--
18              (a) In Chapter 55, Article 9 NMSA 1978:
19                    (1) accession means goods that are
20    physically united with other goods in such a manner that the
21    identity of the original goods is not lost;
22                    (2) account, except as used in account
23    for:
24                         (A) means a right to payment of a
25    monetary obligation, whether or not earned by performance:
House  ,ill,108
Approved April 2, 2001

Char,. 139

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