N.M. Code R. § 12.6.2.208

Current through Register Vol. 35, No. 11, June 11, 2024

Section 12.6.2.208 - INITIAL FINANCING STATEMENT

A new record is opened in the UCC information management system for each initial financing statement that bears the file number of the financing statement and the date and time of filing.

A. The name and address of each debtor that are legibly set forth in the financing statement are entered into the record of the financing statement. Each such debtor name is included in the searchable index and is not removed until at least one year after the financing statement lapses. The filing office may choose to make debtor names which have lapsed by more than a year available in the search index.

B. The name and address of each secured party that are legibly set forth in the financing statement are entered into the record of the financing statement.

C. The record is indexed according to the name of the debtor(s) and is maintained for public inspection.

D. A lapse date is established for the financing statement, unless the initial financing statement indicates it is filed against a transmitting utility, and the lapse date is maintained as part of the record.

E. In accordance with this rule, a record that is presented for filing and is identified as an "in lieu of" filing is processed the same as an initial financing statement.

N.M. Code R. § 12.6.2.208

12.6.2.208 NMAC - N, 7/1/2001