This act applies to a document of title that is issued or a bailment that arises on or after the effective date of this act. This act does not apply to a document of title that is issued or a bailment that arises before the effective date of this act even if the document of title or bailment would be subject to this act if the document of title had been issued or bailment had arisen on or after the effective date of this act. This act does not apply to a right of action regarding a document of title or bailment that has accrued before the effective date of this act.
History: Laws 2005, ch. 144, § 110.
Effective dates. — Laws 2005, ch. 144, § 115 makes the act effective January 1, 2006.
Temporary provisions. — Laws 2005, ch. 144, § 110, effective January 1, 2006, provided that Laws 2005, ch. 144 applies to a document of title that is issued or a bailment that arises on or after the effective date of this act. This act does not apply to a document of title that is issued or a bailment that arises before the effective date of this act even if the document of title or bailment would be subject to this act if the document of title had been issued or bailment had arisen on or after the effective date of this act. This act does not apply to a right of action regarding a document of title or bailment that has accrued before the effective date of this act.
Structure 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.