N.M. Admin. Code § 12.7.2.10

Current through Register Vol. 35, No. 23, December 10, 2024

Section 12.7.2.10 - CONTINUING OR TERMINATING AN EFFECTIVE FINANCING STATEMENT

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) if filed to continue an existing financing statement. The effectiveness of the original effective financing statement will be continued for five (5) years from the last date to which the filing was effective.

C. The signatures of all secured parties are required if an EFS-3 is filed to terminate an existing financing statement.

D. Continuation or termination fees are:

(1) the fee for filing a continuation or a termination is eleven dollars and fifty cents ($11.50) if filed on the EFS-3 form prescribed by the secretary of state;

(2) the use of a non-standard form is an additional three dollars ($3.00) or fourteen dollars and fifty cents ($14.50) if an EFS-3 is not used;

(3) an additional fifty cents ($.50) per page for each additional page filed as an attachment.

N.M. Admin. Code § 12.7.2.10

1/1/88, 8/1/98, 7/1/99; Recompiled 10/15/01