The secretary of state shall adopt and promulgate rules and regulations necessary to implement the Farm Products Secured Interest Act. If necessary to obtain federal certification of the central filing system, additional or alternative requirements made in conformity with Section 1324 of the Food Security Act of 1985 may be imposed by the secretary of state by rule and regulation. The secretary of state shall prescribe all forms to be used for filing effective financing statements and subsequent actions.
History: Laws 1987, ch. 177, § 11.
Compiler's notes. — Laws 1995, ch. 190, § 19 amended Laws 1987, ch. 177, § 16, as amended by Laws 1992, ch. 8, § 1, to delete the provision providing that Laws 1987, ch. 177 is effective until July 1, 1997.
Cross references. — For Section 1324 of the federal Food Security Act of 1985, see 7 U.S.C. § 1631.
Structure New Mexico Statutes
Chapter 56 - Commercial Instruments and Transactions
Article 13 - Farm Products Secured Interests
Section 56-13-1 - Short title.
Section 56-13-2 - Legislative purpose.
Section 56-13-3 - Definitions.
Section 56-13-4 - Implementation of central filing system.
Section 56-13-5 - Certification of system.
Section 56-13-7 - Continuation statement.
Section 56-13-8 - Lapse or waiver.
Section 56-13-9 - Oral and written inquiries.
Section 56-13-10 - Seller disclosure.
Section 56-13-11 - Adoption of rules and regulations.
Section 56-13-12 - Receipt of notice.
Section 56-13-13 - Rights of buyer in the ordinary course of business.