Except as otherwise provided in Article 12 [55-12-101 to 55-12-108 NMSA 1978], the old U.C.C. shall apply to any questions of priority if the positions of the parties were fixed prior to January 1, 1986. In other cases questions of priority shall be determined by the new U.C.C.
History: 1978 Comp., § 55-12-107, enacted by Laws 1985, ch. 193, § 45.
Cross references. — For definition of "old UCC" and "new UCC," see 55-12-101 NMSA 1978.
Compiler's notes. — This section appears as § 11-107 in the Uniform Act.
Structure 2021 New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 12 - Effective Date and Transition Provisions
Section 55-12-101 - Effective date; ["old U.C.C." and "new U.C.C." defined]
Section 55-12-102 - Preservation of old transition provision.
Section 55-12-103 - Transition to new U.C.C.; general rule.
Section 55-12-104 - Transition provision on change of requirement of filing.
Section 55-12-105 - Transition provision on change of place of filing.
Section 55-12-106 - Required refilings.
Section 55-12-107 - Transition provisions as to priorities.
Section 55-12-108 - Presumption that rule of law continues unchanged.
Section 55-12-109 - Saving clause.