There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 55: Uniform Commercial Code
Article 3: Negotiable Instruments, 55-3-101 through 55-3-805
Section 55-3-201: Negotiation.
Universal Citation:
NM Stat § 55-3-201 (1996 through 1st Sess 50th Legis)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
55-3-201. Negotiation.
(a) "Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.
(b) Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.
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