2018 New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 2A - Leases
Section 55-2A-306 - Priority of certain liens arising by operation of law.
If a person in the ordinary course of his business furnishes services or materials with respect to goods subject to a lease contract, a lien upon those goods in the possession of that person given by statute or rule of law for those materials or services takes priority over any interest of the lessor or lessee under the lease contract or this article unless the lien is created by statute and the statute provides otherwise or unless the lien is created by rule of law and the rule of law provides otherwise.
History: 1978 Comp., § 55-2A-306, enacted by Laws 1992, ch. 114, § 43.
OFFICIAL COMMENTS
UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.
Uniform Statutory Source: — Section 9-310 [55-9-310 NMSA 1978].
Changes: — The approach reflected in the provisions of Section 9-310 [55-9-310 NMSA 1978] was included, but revised to conform to leasing terminology and to expand the exception to the special priority granted to protected liens to cover liens created by rule of law as well as those created by statute.
Purposes: — This section should be interpreted to allow a qualified lessor or a qualified lessee to be the competing lienholder if the statute or rule of law so provides. The reference to statute includes applicable regulations and cases; these sources must be reviewed in resolving a priority dispute under this section.
Cross Reference: — Section 9-310 [55-9-310 NMSA 1978].
"Goods". Section 2A-103(1)(h) [55-2A-103 NMSA 1978].
"Lease contract". Section 2A-103(1)(l) [55-2A-103 NMSA 1978].
"Lessee". Section 2A-103(1)(n) [55-2A-103 NMSA 1978].
"Lessor". Section 2A-103(1)(p) [55-2A-103 NMSA 1978].
"Lien". Section 2A-103(1)(r) [55-2A-103 NMSA 1978].
"Person". Section 1-201(30) [55-1-201 NMSA 1978].
Effective dates. — Laws 1992, ch. 114, § 238 made Laws 1992, ch. 114, § 43 effective July 1, 1992.
