2006 New Mexico Statutes - 55-9-314 — Perfection by control.

55-9-314. Perfection by control.

(a)     A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper or electronic documents may be perfected by control of the collateral under Section 55-7-106, 55-9-104, 55-9-105, 55-9-106 or 55-9-107 NMSA 1978. 

(b)     A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights or electronic documents is perfected by control under Section 55-7-106, 55-9-104, 55-9-105 or 55-9-107 NMSA 1978 when the secured party obtains control and remains perfected by control only while the secured party retains control. 

(c)     A security interest in investment property is perfected by control under Section 55-9-106 NMSA 1978 from the time the secured party obtains control and remains perfected by control until: 

(1)     the secured party does not have control; and 

(2)     one of the following occurs: 

(A)     if the collateral is a certificated security, the debtor has or acquires possession of the security certificate; 

(B)     if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or 

(C)     if the collateral is a security entitlement, the debtor is or becomes the entitlement holder.