The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or previous indorsers. History: 1953 Comp., § 50A-7-505, enacted by Laws 1961, ch. 96, § 7-505; 2005, ch. 144, § 84.
Indorser not guarantor for other parties
NMSA 1978, § 55-7-505, under Article 7.
NMSA 1978, § 55-7-505