N.M. Admin. Code § 12.6.2.7
Current through Register Vol. 35, No. 23, December 10, 2024
Section 12.6.2.7 - DEFINITIONSThe 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 in a financing statement. Amendments include assignments, continuations and terminations.B. "Assignment" is an amendment that assigns all or a part of a secured party's power to authorize an amendment to a financing statement.C. "Continuation" means an amendment that continues the effectiveness of a financing statement.D. "Information statement" means a UCC document that indicates that a financing statement is inaccurate or wrongfully filed.E. "File number" means the unique identifying information assigned to a financing statement by the filing officer for the purpose of identifying the financing statement and UCC documents relating to the financing statement in the filing officer's information management system. For a financing statement with an initial financing statement filed prior to July 1, 2001, the file number consists of a 2 digit year, 2 digit month, 2 digit day, and a 3 digit sequential number (yymmddXXX). For a financing statement with an initial financing statement filed after June 30, 2001 but before March 26, 2003, the file number consists of a 4 digit year, 2 digit month, 2 digit day, 3 digit sequential number, and 2 digit check number (yyyymmddXXXcc). For a financing statement with an initial financing statement filed on or after March 26, 2003, the number includes three segments; the year of filing expressed as a four digit number, followed by a unique seven digit number assigned to financing statement by the filing office and ending with a one digit verification alphabetic character assigned by the filing office but mathematically derived from the numbers in the first two segments. The same file format will be used for amendments as initial filing statements, including the verification alphabetic character. Though the verification alphabetic character is not as important here, it guarantees the integrity of the file number. The filing number bears no relation to the time of filing and is not an indicator of priority.F. "Filing office" and "filing officer" mean the secretary of state's office, operations division.G. "Filing officer statement" means a statement entered into the filing office's information system to correct an error by the filing office.H. "Financing statement" means a record or records composed of an initial financing statement and any filed record(s) relating to the initial financing statement.I. "Individual debtor name" means any name provided as a debtor name in a UCC record in a format that identifies the name as that of a debtor who is an individual, without regard to the nature or character of the name or to the nature or character of the actual debtor.J. "Initial financing statement" means a UCC document that does not identify itself as an amendment or identify an initial financing statement to which it relates, as required by Sections-55-9-512, 55-9-513, 55-9-514 or 55-9-518 NMSA 1978.K. "Organization" means a legal person who is not an individual as defined in item H of this section.L. "Remitter" means a person who tenders a UCC document to the filing office for filing, whether the person is a filer or an agent of a filer responsible for tendering the document for filing. "Remitter" does not include a person responsible merely for the delivery of the document to the filing office, such as the postal service or a courier service but does include a service provider who acts as a filer's representative in the filing process.M. "Secured party of record" means, with respect to a financing statement, a person whose name is provided as the name of a secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under Chapter 55, Article 9 Section 514(a) NMSA 1978, the assignee named in the initial financing statement is the secured party of record with respect to the financing statement. If an amendment of a financing statement which provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under Section 55-9-514(b) NMSA 1978, the assignee named in the amendment is a secured party of record. A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.N. "Termination" means an amendment intended to indicate that the related financing statement has ceased to be effective with respect to the secured party authorizing the termination.O. "UCC" means the Uniform Commercial Code as adopted in this state and in effect from time to time.P. "UCC document" means an initial financing statement, an amendment, an assignment, a continuation, a termination or a information statement. The word "document" in the term "UCC document" shall not be deemed to refer exclusively to paper or paper-based writings; it being understood that UCC documents may be expressed or transmitted electronically or through media other than such writings. (Note: this definition is used for the purpose of these rules only. The use of the term "UCC document" in these rules has no relation to the definition of the term "document" in Section 55-9-102(a)(30) NMSA 1978.)N.M. Admin. Code § 12.6.2.7
12.6.2.7 NMAC - N, 7/1/2001; A, 7/1/2003; A, 6/30/2011; A, 7/31/2013