N.M. Admin. Code § 12.7.2.8

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

Section 12.7.2.8 - FILING AN EFFECTIVE FINANCING STATEMENT

A. An effective financing statement (form EFS-1) must be filed with the office of the secretary of state. Upon receipt, the EFS-1 will be stamped with the date and time received which will be used as the date of filing. The fee for filing an effective financing statement is eleven dollars and fifty cents ($11.50) if filed on the form prescribed by the secretary of state. The fee for the use of non-standard forms is an additional three dollars ($3.00). In addition, the fee for attachments to an effective financing statement submitted for filing is fifty cents ($.50) per page. An EFS-1 must be signed by the debtor(s) and the secured party or parties.

B. Effective financing statements may only be used to file a security interest only on a farm product(s) produced in New Mexico. The county in which the farm product(s) is produced must be identified on the EFS-1. A code identifying the county must be provided as well as the name of the county.

C. The crop year for each product must be identified on the EFS-1. If no crop year is identified, then all years covered by the filing will be presumed.

N.M. Admin. Code § 12.7.2.8

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