Chapter 55, Article 9 NMSA 1978 does not preclude subordination by agreement by a person entitled to priority. History: 1978 Comp., § 55-9-339, enacted by Laws 2001, ch. 139, § 59. OFFICIAL COMMENTS UCC Official Comments © by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. 1. Source. Former section 9-316. 2. Subordination by Agreement. The preceding sections deal elaborately with questions of priority. This section makes it entirely clear that a person entitled to priority may effectively agree to subordinate its claim. Only the person entitled to priority may make such an agreement: A person's rights cannot be adversely affected by an agreement to which the person is not a party.
Priority subject to subordination
NMSA 1978, § 55-9-339 — under Article 9.
NMSA 1978, § 55-9-339