New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 6 - BUSINESS PRACTICES - UNIFORM COMMERCIAL CODE
Part 2 - FILING PROVISIONS
Section 12.6.2.137 - TERMINATION
Universal Citation: 12 NM Admin Code 12.6.2.137
Current through Register Vol. 35, No. 18, September 24, 2024
A. Status of parties. The filing of a termination shall have no effect upon the status of any party to the financing statement.
B. Status of financing statement. A termination shall have no effect upon the status of the financing statement and the financing statement shall remain active in the information management system until one year after it lapses, unless the termination relates to a financing statement that indicates it is filed against a transmitting utility, in which case the financing statement will become inactive one year after it is terminated with respect to all secured parties of record.
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