2006 New Mexico Statutes - 55-9-516 — What constitutes filing; effectiveness of filing.

55-9-516. What constitutes filing; effectiveness of filing.

(a)     Except as otherwise provided in Subsection (b) of this section, communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing.   

(b)     Filing does not occur with respect to a record that the secretary of state refuses to accept because:   

(1)     the record is not communicated by a method or medium of communication authorized by the filing office;   

(2)     an amount equal to or greater than the applicable filing fee is not tendered;   

(3)     the filing office is unable to index the record because:   

(A)     in the case of an initial financing statement, the record does not provide a name for the debtor; or   

(B)     in the case of an amendment or correction statement, the record:   

(i)     does not identify the initial financing statement as required by Section 55-9-512 or 55-9-518 NMSA 1978, as applicable; or   

(ii)     identifies an initial financing statement whose effectiveness has lapsed under Section 55-9-515 NMSA 1978;   

(4)     in the case of an initial financing statement or an amendment that adds a secured party of record, the record does not provide a name and mailing address for the secured party of record;   

(5)     in the case of an initial financing statement or an amendment that provides a name of a debtor which was not previously provided in the financing statement to which the amendment relates, the record does not:   

(A)     provide a mailing address for the debtor;   

(B)     indicate whether the debtor is an individual or an organization; or   

(C)     if the financing statement indicates that the debtor is an organization, provide:   

(i)     a type of organization for the debtor;   

(ii)     a jurisdiction of organization for the debtor; and   

(iii)     an organizational identification number for the debtor or indicate that the debtor has none;   

(6)     in the case of an assignment reflected in an initial financing statement under Subsection (a) of Section 55-9-514 NMSA 1978 or an amendment filed under Subsection (b) of Section 55-9-514 NMSA 1978, the record does not provide a name and mailing address for the assignee; or   

(7)     in the case of a continuation statement, the record is not filed within the six-month period prescribed by Subsection (d) of Section 55-9-515 NMSA 1978.   

(c)     For purposes of Subsection (b) of this section:   

(1)     a record does not provide information if the secretary of state is unable to read or decipher the information; and   

(2)     a record that does not indicate that it is an amendment or identify an initial financing statement to which it relates, as required by Section 55-9-512, 55-9-514 or 55-9-518 NMSA 1978, is an initial financing statement.   

(d)     A record that is communicated to the filing office with tender of the filing fee, but which the secretary of state refuses to accept for a reason other than one set forth in Subsection (b) of this section, is effective as a filed record except as against a purchaser of the collateral which gives value in reasonable reliance upon the absence of the record from the files.