New Mexico Administrative Code

A. Date and time stamp. The date and time of receipt are noted on the document or otherwise permanently associated with the record maintained for a UCC document in the UCC information management system at the earliest possible time. B. Cash management. Transactions necessary to p…

The filing date and filing time of a UCC document is determined by 12.6.2.12 NMAC.

A lapse date is calculated for each initial financing statement (unless the debtor is indicated to be a transmitting utility). The lapse date is the same date of the same month as the filing date in the fifth year after the filing date or relevant subsequent fifth anniversary the…

The filing office may correct the errors of filing office personnel in the UCC information management system at any time. If the correction is made after the filing office has issued a through date for verification of the key entry that includes the filing date of a corrected doc…

An error by a filer is the responsibility of such filer. It can be corrected by filing an amendment or it can be disclosed by an information statement.

A filing should designate whether a name is a name of an individual or an organization and, if an individual, also designates the individual's surname, first personal name, additional name(s) or initial(s) and suffix. When this is done, the following rules shall apply. A. Organiz…

A UCC document that is an initial financing statement or an amendment that adds a debtor to a financing statement and that fails to specify whether the debtor is an individual or an organization will be refused by the filing office. However, if it is accepted for filing in error,…

The filing officer uses the following procedures to verify the accuracy of data entry tasks. Visual inspection and dual data entry of data entry is employed for data in the following fields except that dual data entry is only utilized for debtor name fields. A. Document identific…

A new record is opened in the UCC information management system for each initial financing statement that bears the file number of the financing statement and the date and time of filing. A. The name and address of each debtor that are legibly set forth in the financing statement…

A record is created for the amendment that bears the file number for the amendment and the date and time of filing. A. The record of the amendment is associated with the record of the related initial financing statement in a manner that causes the amendment to be retrievable each…

Public records services are provided on a non-discriminatory basis to any member of the public on the terms described in these rules. The following methods are available for obtaining copies of UCC documents and copies of data from the UCC information management system. A. Indivi…

A record is created for the information statement that bears the file number for the information statement and the date and time of filing. The record of the information statement is associated with the record of the related initial financing statement in a manner that causes the…

[RESERVED]

A. Paper UCC documents.(1) Storage. Paper UCC records are stored off site at the state records center and archives. (2) Retention. Six years after record is filed. B. Reductions. (1) Storage. Paper UCC records received prior to January 1, 2001 are microfilmed. Paper UCC records r…

All active data in the UCC information management system relating to financing statements is retained off site at the state records center and archives and are retrievable.

All UCC data in the information management system is available for search on a computer work station located in the filing office or on the agency's web site (www.sos.state.nm.us).

The filing officer takes no action upon receipt of a notification, formal or informal, of a bankruptcy proceeding involving a debtor named in the UCC information management system. Accordingly, financing statements will lapse as scheduled unless properly continued.

Fees for public records services are established as follows. A. Paper copies of individual documents.(1) Regular delivery method - $1.00 per page. (2) Fax delivery - $1.00 per page. B. Data from information management system.(1) Full extract - $.10 per record on floppy disc or $1…

The filing officer is authorized to adopt practices and procedures to accomplish receipt, processing, maintenance, retrieval and transmission of, and remote access to, Article 9 filing data by means of electronic, voice, optical and/or other technologies, and, without limiting th…

The duties and responsibilities of the filing officer with respect to the administration of the UCC are ministerial. In accepting for filing or refusing to file a UCC document pursuant to these rules, the filing officer does none of the following: A. Determine the legal sufficien…

Provided that there is no ground to refuse acceptance of the document as described in 12.6.2.28 NMAC, a UCC document is filed upon its receipt by the filing officer with the correct filing fee and the filing officer will promptly assign a file number to the UCC document and index…

The following grounds are the sole grounds for the filing officer's refusal to accept a UCC document for filing. As used herein, the term "legible" is not limited to refer only to written expressions on paper: it requires a machine-readable transmission for electronic transmissio…

The sole grounds for the filing officer's refusal to accept a UCC document for filing are enumerated in 12.6.2.28 NMAC. The following are examples of defects that do not constitute grounds for refusal to accept a document. These are not a comprehensive enumeration of defects outs…

The filing officer maintains for public inspection a searchable index for all records of UCC documents that provides for the retrieval of a record by the name of the debtor and by the file number of the initial financing statement to which the record relates and which associates …

A. Search requests received by the filing office will be returned without processing. B. The filing office will provide a search engine on its web site (www.sos.state.nm.us) for use by anyone wanting a search of a record. There is no fee for unlimited use of the search engine. Th…

Section 55-9-526 NMSA 1978 (Chapter 139, Laws of 2001).

The filing officer shall determine whether criteria exist to refuse acceptance of a UCC document for filing not later than the third business day after the date the document would have been filed had it been accepted for filing and shall index a UCC document not so refused within…

Search results are created by applying standardized search logic to the name entered into the search program. Human judgment does not play a role in determining the results of the search. The following, and only the following rules are applied to searches conducted by the filing …

If the filing officer finds grounds under 12.6.2.28 NMAC to refuse acceptance of a UCC document, the filing officer shall return the document, if written, to the remitter along with the filing fee. The filing office shall send a notice that contains the date and time the document…

The filing officer shall submit to the filer or remitter a filing acknowledgment which contains the file number of the filing, the date and time of filing, the lapse date, and the names and addresses for debtors and secured parties as data entered by the filing officer.

Nothing in these rules prevents a filing officer from communicating to a filer or a remitter that the filing officer noticed apparent potential defects in a UCC document, whether or not it was filed or refused for filing. However, the filing office is under no obligation to do so…

If a secured party or a remitter demonstrates to the satisfaction of the filing officer that a UCC document that was refused for filing should not have been refused under 12.6.2.28 NMAC, the filing officer will file the UCC document as provided in these rules with a filing date a…

The filing officer shall adopt rules of practice describing their objective, the nature and requirements of formal and informal procedures to file UCC records, including an identification of the forms required to file UCC documents, and methods available to access UCC records.

Pursuant to the adoption, amendment, or repeal of these rules, the filing officer shall comply with all rules and procedures promulgated by the New Mexico State Records Center and Archives.

Rules on the administration of the UCC are adopted pursuant to Section 55-9-526 NMSA 1978 and are intended to implement Section 55-9-501 through Section 55-9-526 NMSA 1978.

Permanent.

July 1, 2001.

The objective of this rule is to establish standards for uniform requirements to file UCC records. The office of the secretary of state recognizes that the administration of the UCC has an important impact on the economy and upon the rights of the public, in this state and in the…

The following terms shall have the respective meanings provided in this rule. Terms not defined in this rule which are defined in the UCC shall have the respective meanings accorded such terms in the UCC. A. "Amendment" means a UCC document that amends the information contained i…

Singular nouns shall include the plural form, and plural nouns shall include the singular form, unless the context otherwise requires.

The filing office is the office for filing UCC documents relating to all types of collateral except for timber to be cut, as-extracted collateral (Section 55-9-102(a)(6) NMSA 1978) and, when the relevant financing statement is filed as a fixture filing, goods which are or are to …

Office of the Secretary of State.

A. Form EFS-3 (continuation or termination of an effective financing statement) must be used to continue or terminate an existing effective financing statement. B. An EFS-3 is filed with the office of the secretary of state and must include the signatures of all secured party(ies…

A. Each quarter, the secretary of state prepares listings of farm products as requested by registered buyers. The listings are provided according to farm product; and (1) in alphabetical order according to the last name of the individual debtors (for those debtors doing business …

A. Buyers of farm products, commission merchants, selling agents and other persons must register with the secretary of state to receive the quarterly reports identified in Section 11 [now 12.7.2.11 NMAC]. Registration is thirty dollars ($30.00) annually and must be made on the fo…

A. Any person may request from the office of the secretary of state information regarding particular debtors. The request may be made either in person, by telephone or in writing. At the time the inquiry is made, the operations division staff will search the computerized database…

Agricultural lenders and agricultural buyers.

Food Security Act (USDA), New Mexico Farm Products Secured Interests Act, Sections 56-13-1 to 56-13-14 NMSA 1978.

Permanent.

August 1, 1998, unless a different date is cited at the end of a section or paragraph.