{"data":{"id":"us-nm/55-11a-109","jurisdiction":"us-nm","citation":"55-11A-109","heading":"Saving clause.","body":"(a) Chapter 55, Article 8 NMSA 1978 does not affect an action or proceeding commenced before that article takes effect.\n(b) If a security interest in a security is perfected at the date Chapter 55, Article 8 NMSA 1978 takes effect and the action by which the security interest was perfected would suffice to perfect a security interest under that article, no further action is required to continue perfection. If a security interest in a security is perfected at the date Chapter 55, Article 8 NMSA 1978 takes effect but the action by which the security interest was perfected would not suffice to perfect a security interest under that article, the security interest remains perfected for a period of four months after the effective date and continues perfected thereafter if appropriate action to perfect under Chapter 55, Article 8 NMSA 1978 is taken within that period. If a security interest is perfected at the date Chapter 55, Article 8 NMSA 1978 takes effect and the security interest can be perfected by filing under that article, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect.","path":["Chapter 55 - Uniform Commercial Code","ARTICLE 11A Effective Date and Transition Provisions"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18558/index.do","current_through":"2024-04-27","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"f137f2194fdb66666cf0fba8edde8b2c6536c5a263540bac87ede3918ba8e2ff","source_id":"us-nm","stale":false,"prev":"us-nm/55-11a-108","next":"us-nm/55-11a-110"},"notice":"GroundRules: Original legal text. Not legal advice."}