New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 6 - BUSINESS PRACTICES - UNIFORM COMMERCIAL CODE
Part 2 - FILING PROVISIONS
Section 12.6.2.139 - PROCEDURE UPON LAPSE
Universal Citation: 12 NM Admin Code 12.6.2.139
Current through Register Vol. 35, No. 18, September 24, 2024
If there is no timely filing of a continuation with respect to a financing statement, the financing statement lapses on its lapse date but no action is then taken by the filing office. On the first anniversary of such lapse date, the information management system renders or is caused to render the financing statement inactive and the financing statement will no longer be made available to a searcher unless inactive statements are requested by the searcher and the financing statement is still retrievable by the information management system.
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