55-12A-102: Definitions.

(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.

OFFICIAL COMMENTS

UCC Official Comments © by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.

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