Section 55-9-611 - Notification before disposition of collateral(a) In this section, "notification date" means the earlier of the date on which: (1) a secured party sends to the debtor and any secondary obligor a signed notification of disposition; or(2) the debtor and any secondary obligor waive the right to notification.(b) Except as otherwise provided in Subsection (d) of this section, a secured party that disposes of collateral under Section 55-9-610 NMSA 1978 shall send to the persons specified in Subsection (c) of this section a reasonable signed notification of disposition.(c) To comply with Subsection (b) of this section, the secured party shall send a signed notification of disposition to: (2) any secondary obligor; and(3) if the collateral is other than consumer goods: (A) any other person from which the secured party has received, before the notification date, a signed notification of a claim of an interest in the collateral;(B) any other secured party or lienholder that, ten days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:(i) identified the collateral;(ii) was indexed under the debtor's name as of that date; and(iii) was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and(C) any other secured party that, ten days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation or treaty described in Subsection (a) of Section 55-9-311 NMSA 1978.(d) Subsection (b) of this section does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market.(e) A secured party complies with the requirement for notification prescribed by Subparagraph (B) of Paragraph (3) of Subsection (c) of this section if: (1) not later than twenty days or earlier than thirty days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in Subparagraph (B) of Paragraph (3) of Subsection (c) of this section; and(2) before the notification date, the secured party: (A) did not receive a response to the request for information; or(B) received a response to the request for information and sent a signed notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral.1978 Comp., § 55-9-611, enacted by Laws 2001, ch. 139, § 108.Amended by 2023, c. 142,s. 85, eff. 1/1/2024.