There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 48: Liens and Mortgages
Article 3: Liens on Personal Property, 48-3-1 through 48-3-29
Section 48-3-11: Acceptance of collateral security waives lien.
NM Stat § 48-3-11 (1996 through 1st Sess 50th Legis) What's This?
48-3-11. [Acceptance of collateral security waives lien.]
No person shall be entitled to a lien under this article who has taken collateral security for the payment of the sum due him.
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