Find Laws Find Lawyers Free Legal Forms USA State Laws

NEW MEXICO STATUTES AND CODES

Section 55-9-318 - No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.

55-9-318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.

(a)     A debtor that has sold an account, chattel paper, payment intangible or promissory note does not retain a legal or equitable interest in the collateral sold.   

(b)     For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.   

New Mexico Law

New Mexico State Laws
    > New Mexico Child Support
    > New Mexico Gun Laws
    > New Mexico Statutes
New Mexico Tax
    > New Mexico State Tax
New Mexico Labor Laws
    > New Mexico Unemployment
New Mexico Agencies
    > New Mexico DMV
    > New Mexico Taxation and Revenue

New Mexico Court Map

Tips