Ask a question on the site
Questions
Lawyers
Blogs
Legislation
Contacts
Become a lawyer
Login Registration
Part 1 - SHORT TITLE AND GENERAL MATTERS
Section 55-8-101 - Short title. - Chapter 55, Article 8 NMSA 1978 may be cited as...
Section 55-8-102 - Definitions. - (a) In this article: (1) "adverse claim" means a claim...
Section 55-8-103 - Rules for determining whether certain obligations and interests are securities or financial assets. - (a) A share or similar equity interest issued by a...
Section 55-8-104 - Acquisition of security or financial asset or interest therein. - (a) A person acquires a security or an interest therein,...
Section 55-8-105 - Notice of adverse claim. - (a) A person has notice of an adverse claim if:...
Section 55-8-106 - Control. - (a) A purchaser has "control" of a certificated security in...
Section 55-8-107 - Whether indorsement, instruction or entitlement order is effective. - (a) "Appropriate person" means: (1) with respect to an indorsement,...
Section 55-8-108 - Warranties in direct holding. - (a) A person who transfers a certificated security to a...
Section 55-8-109 - Warranties in indirect holding. - (a) A person who originates an entitlement order to a...
Section 55-8-110 - Applicability; choice of law. - (a) The local law of the issuer's jurisdiction, as specified...
Section 55-8-111 - Clearing corporation rules. - A rule adopted by a clearing corporation governing rights and...
Section 55-8-112 - Creditor's legal process. - (a) The interest of a debtor in a certificated security...
Section 55-8-113 - Statute of frauds inapplicable. - A contract or modification of a contract for the sale...
Section 55-8-114 - Evidentiary rules concerning certificated securities. - The following rules apply in an action on a certificated...
Section 55-8-115 - Securities intermediary and others not liable to adverse claimant. - A securities intermediary that has transferred a financial asset pursuant...
Section 55-8-116 - Securities intermediary as purchaser for value. - A securities intermediary that receives a financial asset and establishes...
Part 2 - ISSUE AND ISSUER
Section 55-8-201 - Issuer. - (a) With respect to an obligation on or a defense...
Section 55-8-202 - Issuer's responsibility and defenses; notice of defect or defense. - (a) Even against a purchaser for value and without notice,...
Section 55-8-203 - Staleness as notice of defect or defense. - After an act or event, other than a call that...
Section 55-8-204 - Effect of issuer's restriction on transfer. - A restriction on transfer of a security imposed by the...
Section 55-8-205 - Effect of unauthorized signature on security certificate. - An unauthorized signature placed on a security certificate before or...
Section 55-8-206 - Completion or alteration of security certificate. - (a) If a security certificate contains the signatures necessary to...
Section 55-8-207 - Rights and duties of issuer with respect to registered owners. - (a) Before due presentment for registration of transfer of a...
Section 55-8-208 - Effect of signature of authenticating trustee, registrar or transfer agent. - (a) A person signing a security certificate as authenticating trustee,...
Section 55-8-209 - Issuer's lien. - A lien in favor of an issuer upon a certificated...
Section 55-8-210 - Overissue. - (a) In this section, "overissue" means the issue of securities...
Part 3 - TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES
Section 55-8-301 - Delivery. - (a) Delivery of a certificated security to a purchaser occurs...
Section 55-8-302 - Rights of purchaser. - (a) Except as otherwise provided in Subsections (b) and (c)...
Section 55-8-303 - Protected purchaser. - (a) "Protected purchaser" means a purchaser of a certificated or...
Section 55-8-304 - Indorsement. - (a) An indorsement may be in blank or special. An...
Section 55-8-305 - Instruction. - (a) If an instruction has been originated by an appropriate...
Section 55-8-306 - Effect of guaranteeing signature, indorsement or instruction. - (a) A person who guarantees a signature of an indorser...
Section 55-8-307 - Purchaser's right to requisites for registration of transfer. - Unless otherwise agreed, the transferor of a security on due...
Section 55-8-308 to 55-8-321 - Repealed. - Repeals. — Laws 1996, ch. 47, § 70 repealed 55-8-308...
Part 4 - REGISTRATION
Section 55-8-401 - Duty of issuer to register transfer. - (a) If a certificated security in registered form is presented...
Section 55-8-402 - Assurance that indorsement or instruction is effective. - (a) An issuer may require the following assurance that each...
Section 55-8-403 - Demand that issuer not register transfer. - (a) A person who is an appropriate person to make...
Section 55-8-404 - Wrongful registration. - (a) Except as otherwise provided in Section 55-8-406 NMSA 1978,...
Section 55-8-405 - Replacement of lost, destroyed or wrongfully taken security certificate. - (a) If an owner of a certificated security, whether in...
Section 55-8-406 - Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate. - If a security certificate has been lost, apparently destroyed or...
Section 55-8-407 - Authenticating trustee, transfer agent and registrar. - A person acting as authenticating trustee, transfer agent, registrar or...
Section 55-8-408 - Repealed. - Repeals. — Laws 1996, ch. 47, § 70 repealed 55-8-408,...
Part 5 - SECURITY ENTITLEMENTS
Section 55-8-501 - Securities account; acquisition of security entitlement from securities intermediary. - (a) "Securities account" means an account to which a financial...
Section 55-8-502 - Assertion of adverse claim against entitlement holder. - An action based on an adverse claim to a financial...
Section 55-8-503 - Property interest of entitlement holder in financial asset held by securities intermediary. - (a) To the extent necessary for a securities intermediary to...
Section 55-8-504 - Duty of securities intermediary to maintain financial asset. - (a) A securities intermediary shall promptly obtain and thereafter maintain...
Section 55-8-505 - Duty of securities intermediary with respect to payments and distributions. - (a) A securities intermediary shall take action to obtain a...
Section 55-8-506 - Duty of securities intermediary to exercise rights as directed by entitlement holder. - A securities intermediary shall exercise rights with respect to a...
Section 55-8-507 - Duty of securities intermediary to comply with entitlement order. - (a) A securities intermediary shall comply with an entitlement order...
Section 55-8-508 - Duty of securities intermediary to change entitlement holder's position to other form of security holding. - A securities intermediary shall act at the direction of an...
Section 55-8-509 - Specification of duties of securities intermediary by other statute or regulation; manner of performance of duties of securities intermediary and exercise of rights of entitlement holder. - (a) If the substance of a duty imposed upon a...
Section 55-8-510 - Rights of purchaser of security entitlement from entitlement holder. - (a) In a case not covered by the priority rules...
Section 55-8-511 - Priority among security interests and entitlement holders. - (a) Except as otherwise provided in Subsections (b) and (c),...