New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 6 - BUSINESS PRACTICES - UNIFORM COMMERCIAL CODE
Part 2 - FILING PROVISIONS
Section 12.6.2.6 - OBJECTIVE

Universal Citation: 12 NM Admin Code 12.6.2.6

Current through Register Vol. 35, No. 18, September 24, 2024

The objective of this rule is to establish standards for uniform requirements to file UCC records. The office of the secretary of state recognizes that the administration of the UCC has an important impact on the economy and upon the rights of the public, in this state and in the United States. The volume of international, interstate and multi-state transactions pursuant to the UCC requires that the administration of the UCC be conducted in a manner that promotes both local and multi-jurisdictional commerce by striving for uniformity in policies and procedures among the various states. As provided in Section 55-9-526 NMSA 1978, the interpretation and implementation of the filing office's duties and responsibilities shall be expressed in a written set of administrative rules. Such rules have the following purposes:

A. to simplify and improve the administration of the UCC by promoting uniform UCC filing procedures in this state and in the nation;

B. to simplify the public's ability to discover and understand the UCC filing procedures of the various states by establishing a uniform framework for describing the procedures;

C. to increase public access to information; and

D. to increase public accountability of the filing office.

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