Chapter 55 - Uniform Commercial Code.
- Article 1 - General Provisions, 55-1-101 through 55-1-310.
- Section 55-1-101 - Short titles.
- Section 55-1-102 - Scope of article.
- Section 55-1-103 - Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law.
- Section 55-1-104 - Construction against implicit repeal.
- Section 55-1-105 - Severability.
- Section 55-1-106 - Use of singular and plural; gender.
- Section 55-1-107 - Section captions.
- Section 55-1-108 - Relation to Electronic Signatures in Global and National Commerce Act.
- Section 55-1-109 - Repealed.
- Section 55-1-201 - General definitions.
- Section 55-1-202 - Notice; knowledge.
- Section 55-1-203 - Lease distinguished from security interest.
- Section 55-1-204 - Value.
- Section 55-1-205 - Reasonable time; seasonableness.
- Section 55-1-206 - Presumptions.
- Section 55-1-207 - Repealed.
- Section 55-1-208 - Repealed.
- Section 55-1-209 - Repealed.
- Section 55-1-301 - Territorial applicability; parties' power to choose applicable law.
- Section 55-1-302 - Variation by agreement.
- Section 55-1-303 - Course of performance, course of dealing and usage of trade.
- Section 55-1-304 - Obligation of good faith.
- Section 55-1-305 - Remedies to be liberally administered.
- Section 55-1-306 - Waiver or renunciation of claim or right after breach.
- Section 55-1-307 - Prima facie evidence by third-party documents.
- Section 55-1-308 - Performance or acceptance under reservation of rights.
- Section 55-1-309 - Option to accelerate at will.
- Section 55-1-310 - Subordinated obligations.
- Article 2 - Sales, 55-2-101 through 55-2-725.
- Section 55-2-101 - Short title.
- Section 55-2-102 - Scope; certain security and other transactions excluded from this article.
- Section 55-2-103 - Definitions and index of definitions.
- Section 55-2-104 - Definitions; "merchant"; "between merchants"; "financing agency".
- Section 55-2-105 - Definitions: transferability; "goods"; "future" goods; "lot"; "commercial unit."
- Section 55-2-106 - Definitions: "contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termin
- Section 55-2-107 - Goods to be severed from realty; recording.
- Section 55-2-201 - Formal requirements; statute of frauds.
- Section 55-2-202 - Final written expression; parol or extrinsic evidence.
- Section 55-2-203 - Seals inoperative.
- Section 55-2-204 - Formation in general.
- Section 55-2-205 - Firm offers.
- Section 55-2-206 - Offer and acceptance in formation of contract.
- Section 55-2-207 - Additional terms in acceptance or confirmation.
- Section 55-2-208 - Repealed.
- Section 55-2-209 - Modification, rescission and waiver.
- Section 55-2-210 - Delegation of performance; assignment of rights.
- Section 55-2-301 - General obligations of parties.
- Section 55-2-302 - Unconscionable contract or clause.
- Section 55-2-303 - Allocation or division of risks.
- Section 55-2-304 - Price payable in money, goods, realty or otherwise.
- Section 55-2-305 - Open price term.
- Section 55-2-306 - Output, requirements and exclusive dealings.
- Section 55-2-307 - Delivery in single lot or several lots.
- Section 55-2-308 - Absence of specified place for delivery.
- Section 55-2-309 - Absence of specific time provisions; notice of termination.
- Section 55-2-310 - Open time for payment or running of credit; authority to ship under reservation.
- Section 55-2-311 - Options and cooperation respecting performance.
- Section 55-2-312 - Warranty of title and against infringement; buyer's obligation against infringement.
- Section 55-2-313 - Express warranties by affirmation, promise, description, sample.
- Section 55-2-314 - Implied warranty: merchantability; usage of trade.
- Section 55-2-315 - Implied warranty: fitness for particular purpose.
- Section 55-2-316 - Exclusion or modification of warranties.
- Section 55-2-317 - Cumulation and conflict of warranties express or implied.
- Section 55-2-318 - Third-party beneficiaries of warranties express or implied.
- Section 55-2-319 - F.O.B. and F.A.S. terms.
- Section 55-2-320 - C.I.F. and C.&F. terms.
- Section 55-2-321 - C.I.F. or C.&F.: "net landed weights"; "payment on arrival"; warranty of condition on arrival.
- Section 55-2-322 - Delivery "ex-ship.".
- Section 55-2-323 - Form of bill of lading required on overseas shipment; "overseas".
- Section 55-2-324 - "No arrival, no sale" term.
- Section 55-2-325 - "Letter of credit" term; "confirmed credit.".
- Section 55-2-326 - Sale on approval and sale or return; rights of creditors.
- Section 55-2-327 - Special incidents of sale on approval and sale or return.
- Section 55-2-328 - Sale by auction.
- Section 55-2-401 - Passing of title; reservation for security; limited application of this section.
- Section 55-2-402 - Rights of seller's creditors against sold goods.
- Section 55-2-403 - Power to transfer; good faith purchase of goods; "entrusting".
- Section 55-2-501 - Insurable interest in goods; manner of identification of goods.
- Section 55-2-502 - Buyer's right to goods on seller's repudiation, failure to deliver or insolvency.
- Section 55-2-503 - Manner of seller's tender of delivery.
- Section 55-2-504 - Shipment by seller.
- Section 55-2-505 - Seller's shipment under reservation.
- Section 55-2-506 - Rights of financing agency.
- Section 55-2-507 - Effect of seller's tender; delivery on condition.
- Section 55-2-508 - Cure by seller of improper tender or delivery; replacement.
- Section 55-2-509 - Risk of loss in the absence of breach.
- Section 55-2-510 - Effect of breach on risk of loss.
- Section 55-2-511 - Tender of payment by buyer; payment by check.
- Section 55-2-512 - Payment by buyer before inspection.
- Section 55-2-513 - Buyer's right to inspection of goods.
- Section 55-2-514 - When documents deliverable on acceptance; when on payment.
- Section 55-2-515 - Preserving evidence of goods in dispute.
- Section 55-2-601 - Buyer's rights on improper delivery.
- Section 55-2-602 - Manner and effect of rightful rejection.
- Section 55-2-603 - Merchant buyer's duties as to rightfully rejected goods.
- Section 55-2-604 - Buyer's options as to salvage of rightfully rejected goods.
- Section 55-2-605 - Waiver of buyer's objections by failure to particularize.
- Section 55-2-606 - What constitutes acceptance of goods.
- Section 55-2-607 - Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over.
- Section 55-2-608 - Revocation of acceptance in whole or in part.
- Section 55-2-609 - Right to adequate assurance of performance.
- Section 55-2-610 - Anticipatory repudiation.
- Section 55-2-611 - Retraction of anticipatory repudiation.
- Section 55-2-612 - "Installment contract"; breach.
- Section 55-2-613 - Casualty to identified goods.
- Section 55-2-614 - Substituted performance.
- Section 55-2-615 - Excuse by failure of presupposed conditions.
- Section 55-2-616 - Procedure on notice claiming excuse.
- Section 55-2-701 - Remedies for breach of collateral contracts not impaired.
- Section 55-2-702 - Seller's remedies on discovery of buyer's insolvency.
- Section 55-2-703 - Seller's remedies in general.
- Section 55-2-704 - Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods.
- Section 55-2-705 - Seller's stoppage of delivery in transit or otherwise.
- Section 55-2-706 - Seller's resale including contract for resale.
- Section 55-2-707 - "Person in the position of a seller.".
- Section 55-2-708 - Seller's damages for nonacceptance or repudiation.
- Section 55-2-709 - Action for the price.
- Section 55-2-710 - Seller's incidental damages.
- Section 55-2-711 - Buyer's remedies in general; buyer's security interest in rejected goods.
- Section 55-2-712 - "Cover"; buyer's procurement of substitute goods.
- Section 55-2-713 - Buyer's damages for nondelivery or repudiation.
- Section 55-2-714 - Buyer's damages for breach in regard to accepted goods.
- Section 55-2-715 - Buyer's incidental and consequential damages.
- Section 55-2-716 - Buyer's right to specific performance or replevin.
- Section 55-2-717 - Deduction of damages from the price.
- Section 55-2-718 - Liquidation or limitation of damages; deposits.
- Section 55-2-719 - Contractual modification or limitation of remedy.
- Section 55-2-720 - Effect of "cancellation" or "rescission" on claims for antecedent breach.
- Section 55-2-721 - Remedies for fraud.
- Section 55-2-722 - Who can sue third parties for injury to goods.
- Section 55-2-723 - Proof of market price; time and place.
- Section 55-2-724 - Admissibility of market quotations.
- Section 55-2-725 - Statute of limitations in contracts for sale.
- Article 2A - Leases, 55-2A-101 through 55-2A-532.
- Section 55-2A-101 - Short title.
- Section 55-2A-102 - Scope.
- Section 55-2A-103 - Definitions and index of definitions.
- Section 55-2A-104 - Leases subject to other law.
- Section 55-2A-105 - Territorial application of article to goods covered by certificate of title.
- Section 55-2A-106 - Limitation on power of parties to consumer lease to choose applicable law and forum.
- Section 55-2A-107 - Waiver or renunciation of claim or right after default.
- Section 55-2A-108 - Unconscionability.
- Section 55-2A-109 - Option to accelerate at will.
- Section 55-2A-201 - Statute of frauds.
- Section 55-2A-202 - Final written expression; parol or extrinsic evidence.
- Section 55-2A-203 - Seals inoperative.
- Section 55-2A-204 - Formation in general.
- Section 55-2A-205 - Firm offers.
- Section 55-2A-206 - Offer and acceptance in formation of lease contract.
- Section 55-2A-207 - Repealed.
- Section 55-2A-208 - Modification, rescission and waiver.
- Section 55-2A-209 - Lessee under finance lease as beneficiary of supply contract.
- Section 55-2A-210 - Express warranties.
- Section 55-2A-211 - Warranties against interference and against infringement; lessee's obligation against infringement.
- Section 55-2A-212 - Implied warranty of merchantability.
- Section 55-2A-213 - Implied warranty of fitness for particular purpose.
- Section 55-2A-214 - Exclusion or modification of warranties.
- Section 55-2A-215 - Cumulation and conflict of warranties express or implied.
- Section 55-2A-216 - Third-party beneficiaries of express and implied warranties.
- Section 55-2A-217 - Identification.
- Section 55-2A-218 - Insurance and proceeds.
- Section 55-2A-219 - Risk of loss.
- Section 55-2A-220 - Effect of default on risk of loss.
- Section 55-2A-221 - Casualty to identified goods.
- Section 55-2A-301 - Enforceability of lease contract.
- Section 55-2A-302 - Title to and possession of goods.
- Section 55-2A-303 - Alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; transfer of rights.
- Section 55-2A-304 - Subsequent lease of goods by lessor.
- Section 55-2A-305 - Sale or sublease of goods by lessee.
- Section 55-2A-306 - Priority of certain liens arising by operation of law.
- Section 55-2A-307 - Priority of liens arising by attachment or levy on, security interests in and other claims to goods.
- Section 55-2A-308 - Special rights of creditors.
- Section 55-2A-309 - Lessor's and lessee's rights when goods become fixtures.
- Section 55-2A-310 - Lessor's and lessee's rights when goods become accessions.
- Section 55-2A-311 - Priority subject to subordination.
- Section 55-2A-401 - Insecurity; adequate assurance of performance.
- Section 55-2A-402 - Anticipatory repudiation.
- Section 55-2A-403 - Retraction of anticipatory repudiation.
- Section 55-2A-404 - Substituted performance.
- Section 55-2A-405 - Excused performance.
- Section 55-2A-406 - Procedure on excused performance.
- Section 55-2A-407 - Irrevocable promises; finance leases.
- Section 55-2A-501 - Default; procedure.
- Section 55-2A-502 - Notice after default.
- Section 55-2A-503 - Modification or impairment of rights and remedies.
- Section 55-2A-504 - Liquidation of damages.
- Section 55-2A-505 - Cancellation and termination and effect of cancellation, termination, rescission or fraud on rights and remedies.
- Section 55-2A-506 - Statute of limitations.
- Section 55-2A-507 - Proof of market rent; time and place.
- Section 55-2A-508 - Lessee's remedies.
- Section 55-2A-509 - Lessee's rights on improper delivery; rightful rejection.
- Section 55-2A-510 - Installment lease contracts; rejection and default.
- Section 55-2A-511 - Merchant lessee's duties as to rightfully rejected goods.
- Section 55-2A-512 - Lessee's duties as to rightfully rejected goods.
- Section 55-2A-513 - Cure by lessor of improper tender or delivery; replacement.
- Section 55-2A-514 - Waiver of lessee's objections.
- Section 55-2A-515 - Acceptance of goods.
- Section 55-2A-516 - Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over.
- Section 55-2A-517 - Revocation of acceptance of goods.
- Section 55-2A-518 - Cover; substitute goods.
- Section 55-2A-519 - Lessee's damages for non-delivery, repudiation, default and breach of warranty in regard to accepted goods.
- Section 55-2A-520 - Lessee's incidental and consequential damages.
- Section 55-2A-521 - Lessee's right to specific performance or replevin.
- Section 55-2A-522 - Lessee's right to goods on lessor's insolvency.
- Section 55-2A-523 - Lessor's remedies.
- Section 55-2A-524 - Lessor's right to identify goods to lease contract.
- Section 55-2A-525 - Lessor's right to possession of goods.
- Section 55-2A-526 - Lessor's stoppage of delivery in transit or otherwise.
- Section 55-2A-527 - Lessor's rights to dispose of goods.
- Section 55-2A-528 - Lessor's damages for nonacceptance, failure to pay, repudiation or other default.
- Section 55-2A-529 - Lessor's action for the rent.
- Section 55-2A-530 - Lessor's incidental damages.
- Section 55-2A-531 - Standing to sue third parties for injury to goods.
- Section 55-2A-532 - Lessor's rights to residual interest.
- Article 3 - Negotiable Instruments, 55-3-101 through 55-3-805.
- Section 55-3-101 - Short title.
- Section 55-3-102 - Subject matter.
- Section 55-3-103 - Definitions.
- Section 55-3-104 - Negotiable instrument.
- Section 55-3-105 - Issue of instrument.
- Section 55-3-106 - Unconditional promise or order.
- Section 55-3-107 - Instrument payable in foreign money.
- Section 55-3-108 - Payable on demand or at definite time.
- Section 55-3-109 - Payable to bearer or to order.
- Section 55-3-110 - Identification of person to whom instrument is payable.
- Section 55-3-111 - Place of payment.
- Section 55-3-112 - Interest.
- Section 55-3-113 - Date of instrument.
- Section 55-3-114 - Contradictory terms of instrument.
- Section 55-3-115 - Incomplete instrument.
- Section 55-3-116 - Joint and several liability; contribution.
- Section 55-3-117 - Other agreements affecting instrument.
- Section 55-3-118 - Statute of limitations.
- Section 55-3-119 - Notice of right to defend action.
- Section 55-3-120 to 55-3-122 - Repealed.
- Section 55-3-201 - Negotiation.
- Section 55-3-202 - Negotiation subject to rescission.
- Section 55-3-203 - Transfer of instrument; rights acquired by transfer.
- Section 55-3-204 - Indorsement.
- Section 55-3-205 - Special indorsement; blank indorsement; anomalous indorsement.
- Section 55-3-206 - Restrictive indorsement.
- Section 55-3-207 - Reacquisition.
- Section 55-3-208 - Repealed.
- Section 55-3-301 - Person entitled to enforce instrument.
- Section 55-3-302 - Holder in due course.
- Section 55-3-303 - Value and consideration.
- Section 55-3-304 - Overdue instrument.
- Section 55-3-305 - Defenses and claims in recoupment.
- Section 55-3-306 - Claims to an instrument.
- Section 55-3-307 - Notice of breach of fiduciary duty.
- Section 55-3-308 - Proof of signatures and status as holder in due course.
- Section 55-3-309 - Enforcement of lost, destroyed, or stolen instrument.
- Section 55-3-310 - Effect of instrument on obligation for which taken.
- Section 55-3-311 - Accord and satisfaction by use of instrument.
- Section 55-3-312 - Lost, destroyed or stolen cashier's check, teller's check or certified check.
- Section 55-3-401 - Signature.
- Section 55-3-402 - Signature by representative.
- Section 55-3-403 - Unauthorized signature.
- Section 55-3-404 - Impostors; fictitious payees.
- Section 55-3-405 - Employer's responsibility for fraudulent indorsement by employee.
- Section 55-3-406 - Negligence contributing to forged signature or alteration of instrument.
- Section 55-3-407 - Alteration.
- Section 55-3-408 - Drawee not liable on unaccepted draft.
- Section 55-3-409 - Acceptance of draft; certified check.
- Section 55-3-410 - Acceptance varying draft.
- Section 55-3-411 - Refusal to pay cashier's checks, teller's checks, and certified checks.
- Section 55-3-412 - Obligation of issuer of note or cashier's check.
- Section 55-3-413 - Obligation of acceptor.
- Section 55-3-414 - Obligation of drawer.
- Section 55-3-415 - Obligation of indorser.
- Section 55-3-416 - Transfer warranties.
- Section 55-3-417 - Presentment warranties.
- Section 55-3-418 - Payment or acceptance by mistake.
- Section 55-3-419 - Instruments signed for accommodation.
- Section 55-3-420 - Conversion of instrument.
- Section 55-3-501 - Presentment.
- Section 55-3-502 - Dishonor.
- Section 55-3-503 - Notice of dishonor.
- Section 55-3-504 - Excused presentment and notice of dishonor.
- Section 55-3-505 - Evidence of dishonor.
- Section 55-3-506 to 55-3-511 - Repealed.
- Section 55-3-601 - Discharge and effect of discharge.
- Section 55-3-602 - Payment.
- Section 55-3-603 - Tender of payment.
- Section 55-3-604 - Discharge by cancellation or renunciation.
- Section 55-3-605 - Discharge of secondary obligors.
- Section 55-3-606 - Repealed.
- Section 55-3-701 - Repealed.
- Section 55-3-801 to 55-3-805 - Repealed.
- Article 4 - Bank Deposits and Collections, 55-4-101 through 55-4-504.
- Section 55-4-101 - Short title.
- Section 55-4-102 - Applicability.
- Section 55-4-103 - Variation by agreement; measure of damages; action constituting ordinary care.
- Section 55-4-104 - Definitions and index of definitions.
- Section 55-4-105 - Definitions of types of banks.
- Section 55-4-106 - Payable through or payable at bank; collecting bank.
- Section 55-4-107 - Separate office of a bank.
- Section 55-4-108 - Time of receipt of items.
- Section 55-4-109 - Delays.
- Section 55-4-110 - Electronic presentment.
- Section 55-4-111 - Statute of limitations.
- Section 55-4-201 - Status of collecting banks as agent and provisional status of credits; applicability of article; item indorsed "pay any bank".
- Section 55-4-202 - Responsibility for collection or return; when action timely.
- Section 55-4-203 - Effect of instructions.
- Section 55-4-204 - Methods of sending and presenting; sending directly to payor bank.
- Section 55-4-205 - Depositary bank holder of unindorsed item.
- Section 55-4-206 - Transfer between banks.
- Section 55-4-207 - Transfer warranties.
- Section 55-4-208 - Presentment warranties.
- Section 55-4-209 - Encoding and retention warranties.
- Section 55-4-210 - Security interest of collecting bank in items, accompanying documents and proceeds.
- Section 55-4-211 - When bank gives value for purposes of holder in due course.
- Section 55-4-212 - Presentment by notice of item not payable by, through or at a bank; liability of drawer or indorser.
- Section 55-4-213 - Medium and time of settlement by bank.
- Section 55-4-214 - Right of charge-back or refund; liability of collecting bank; return of item.
- Section 55-4-215 - Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal.
- Section 55-4-216 - Insolvency and preference.
- Section 55-4-301 - Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.
- Section 55-4-302 - Payor bank's responsibility for late return of item.
- Section 55-4-303 - When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified.
- Section 55-4-401 - When bank may charge customer's account.
- Section 55-4-402 - Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account.
- Section 55-4-403 - Customer's right to stop payment; burden of proof of loss.
- Section 55-4-404 - Bank not obliged to pay check more than six months old.
- Section 55-4-405 - Death or incompetence of customer.
- Section 55-4-406 - Customer's duty to discover and report unauthorized signature or alteration.
- Section 55-4-407 - Payor bank's right to subrogation on improper payment.
- Section 55-4-501 - Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
- Section 55-4-502 - Presentment of "on arrival" drafts.
- Section 55-4-503 - Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need.
- Section 55-4-504 - Privilege of presenting bank to deal with goods; security interest for expenses.
- Article 4A - Funds Transfers, 55-4A-101 through 55-4A-507.
- Section 55-4A-101 - Short title.
- Section 55-4A-102 - Subject matter.
- Section 55-4A-103 - Payment order; definitions.
- Section 55-4A-104 - Funds transfer; definitions.
- Section 55-4A-105 - Other definitions.
- Section 55-4A-106 - Time payment order is received.
- Section 55-4A-107 - Federal reserve regulations and operating circulars.
- Section 55-4A-108 - Exclusion of consumer transactions governed by federal law.
- Section 55-4A-201 - Security procedure.
- Section 55-4A-202 - Authorized and verified payment orders.
- Section 55-4A-203 - Unenforceability of certain verified payment orders.
- Section 55-4A-204 - Refund of payment and duty of customer to report with respect to unauthorized payment order.
- Section 55-4A-205 - Erroneous payment orders.
- Section 55-4A-206 - Transmission of payment order through funds-transfer or other communication system.
- Section 55-4A-207 - Misdescription of beneficiary.
- Section 55-4A-208 - Misdescription of intermediary bank or beneficiary's bank.
- Section 55-4A-209 - Acceptance of payment order.
- Section 55-4A-210 - Rejection of payment order.
- Section 55-4A-211 - Cancellation and amendment of payment order.
- Section 55-4A-212 - Liability and duty of receiving bank regarding unaccepted payment order.
- Section 55-4A-301 - Execution and execution date.
- Section 55-4A-302 - Obligations of receiving bank in execution of payment order.
- Section 55-4A-303 - Erroneous execution of payment order.
- Section 55-4A-304 - Duty of sender to report erroneously executed payment order.
- Section 55-4A-305 - Liability for late or improper execution or failure to execute payment order.
- Section 55-4A-401 - Payment date.
- Section 55-4A-402 - Obligation of sender to pay receiving bank.
- Section 55-4A-403 - Payment by sender to receiving bank.
- Section 55-4A-404 - Obligation of beneficiary's bank to pay and give notice to beneficiary.
- Section 55-4A-405 - Payment by beneficiary's bank to beneficiary.
- Section 55-4A-406 - Payment by originator to beneficiary; discharge of underlying obligation.
- Section 55-4A-501 - Variation by agreement and effect of funds-transfer system rule.
- Section 55-4A-502 - Creditor process served on receiving bank; set-off by beneficiary's bank.
- Section 55-4A-503 - Injunction or restraining order with respect to funds transfer.
- Section 55-4A-504 - Order in which items and payment orders may be charged to account; order of withdrawals from account.
- Section 55-4A-505 - Preclusion of objection to debit of customer's account.
- Section 55-4A-506 - Rate of interest.
- Section 55-4A-507 - Choice of law.
- Article 5 - Letters of Credit, 55-5-101 through 55-5-118.
- Section 55-5-101 - Short title.
- Section 55-5-102 - Definitions.
- Section 55-5-103 - Scope.
- Section 55-5-104 - Formal requirements.
- Section 55-5-105 - Consideration.
- Section 55-5-106 - Issuance, amendment, cancellation and duration.
- Section 55-5-107 - Confirmer, nominated person and adviser.
- Section 55-5-108 - Issuer's rights and obligations.
- Section 55-5-109 - Fraud and forgery.
- Section 55-5-110 - Warranties.
- Section 55-5-111 - Remedies.
- Section 55-5-112 - Transfer of letter of credit.
- Section 55-5-113 - Transfer by operation of law.
- Section 55-5-114 - Assignment of proceeds.
- Section 55-5-115 - Statute of limitations.
- Section 55-5-116 - Choice of law and forum.
- Section 55-5-117 - Subrogation of issuer, applicant and nominated person.
- Section 55-5-118 - Security interest of issuer or nominated person.
- Article 6 - Bulk Transfers, 55-6-101 through 55-6-110.
- Article 7 - Documents of Title, 55-7-101 through 55-7-807.
- Section 55-7-101 - Short title.
- Section 55-7-102 - Definitions and index of definitions.
- Section 55-7-103 - Relation of article to treaty or statute.
- Section 55-7-104 - Negotiable and nonnegotiable document of title.
- Section 55-7-105 - Reissuance in alternative medium.
- Section 55-7-106 - Control of electronic document of title.
- Section 55-7-201 - Person that may issue a warehouse receipt; storage under bond.
- Section 55-7-202 - Form of warehouse receipt; effect of omission.
- Section 55-7-203 - Liability for nonreceipt or misdescription.
- Section 55-7-204 - Duty of care; contractual limitation of warehouse's liability.
- Section 55-7-205 - Title under warehouse receipt defeated in certain cases.
- Section 55-7-206 - Termination of storage at warehouse's option.
- Section 55-7-207 - Goods must be kept separate; fungible goods.
- Section 55-7-208 - Altered warehouse receipts.
- Section 55-7-209 - Lien of warehouse.
- Section 55-7-210 - Enforcement of warehouse's lien.
- Section 55-7-301 - Liability for nonreceipt or misdescription; "said to contain"; "shipper's weight, load and count"; improper handling.
- Section 55-7-302 - Through bills of lading and similar documents of title.
- Section 55-7-303 - Diversion; reconsignment; change of instructions.
- Section 55-7-304 - Tangible bills of lading in a set.
- Section 55-7-305 - Destination bills.
- Section 55-7-306 - Altered bills of lading.
- Section 55-7-307 - Lien of carrier.
- Section 55-7-308 - Enforcement of carrier's lien.
- Section 55-7-309 - Duty of care; contractual limitation of carrier's liability.
- Section 55-7-401 - Irregularities in issue of receipt or bill or conduct of issuer.
- Section 55-7-402 - Duplicate document of title; overissue.
- Section 55-7-403 - Obligation of bailee to deliver; excuse.
- Section 55-7-404 - No liability for good-faith delivery pursuant to document of title.
- Section 55-7-501 - Form of negotiation and requirements of due negotiation.
- Section 55-7-502 - Rights acquired by due negotiation.
- Section 55-7-503 - Document of title to goods defeated in certain cases.
- Section 55-7-504 - Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery.
- Section 55-7-505 - Indorser not guarantor for other parties.
- Section 55-7-506 - Delivery without indorsement; right to compel indorsement.
- Section 55-7-507 - Warranties on negotiation or delivery of document of title.
- Section 55-7-508 - Warranties of collecting bank as to documents of title.
- Section 55-7-509 - Adequate compliance with commercial contract.
- Section 55-7-601 - Lost, stolen or destroyed documents of title.
- Section 55-7-602 - Judicial process against goods covered by negotiable document of title.
- Section 55-7-603 - Conflicting claims; interpleader.
- Section 55-7-701 - Repealed.
- Section 55-7-702 - Repealed.
- Section 55-7-703 - Repealed.
- Section 55-7-704 - Repealed.
- Section 55-7-705 - Repealed.
- Section 55-7-706 - Repealed.
- Section 55-7-801 - Repealed.
- Section 55-7-802 - Repealed.
- Section 55-7-803 - Repealed.
- Section 55-7-804 - Repealed.
- Section 55-7-805 - Repealed.
- Section 55-7-806 - Repealed.
- Section 55-7-807 - Repealed.
- Article 8 - Investment Securities, 55-8-101 through 55-8-511.
- Section 55-8-101 - Short title.
- Section 55-8-102 - Definitions.
- Section 55-8-103 - Rules for determining whether certain obligations and interests are securities or financial assets.
- Section 55-8-104 - Acquisition of security or financial asset or interest therein.
- Section 55-8-105 - Notice of adverse claim.
- Section 55-8-106 - Control.
- Section 55-8-107 - Whether indorsement, instruction or entitlement order is effective.
- Section 55-8-108 - Warranties in direct holding.
- Section 55-8-109 - Warranties in indirect holding.
- Section 55-8-110 - Applicability; choice of law.
- Section 55-8-111 - Clearing corporation rules.
- Section 55-8-112 - Creditor's legal process.
- Section 55-8-113 - Statute of frauds inapplicable.
- Section 55-8-114 - Evidentiary rules concerning certificated securities.
- Section 55-8-115 - Securities intermediary and others not liable to adverse claimant.
- Section 55-8-116 - Securities intermediary as purchaser for value.
- Section 55-8-201 - Issuer.
- Section 55-8-202 - Issuer's responsibility and defenses; notice of defect or defense.
- Section 55-8-203 - Staleness as notice of defect or defense.
- Section 55-8-204 - Effect of issuer's restriction on transfer.
- Section 55-8-205 - Effect of unauthorized signature on security certificate.
- Section 55-8-206 - Completion or alteration of security certificate.
- Section 55-8-207 - Rights and duties of issuer with respect to registered owners.
- Section 55-8-208 - Effect of signature of authenticating trustee, registrar or transfer agent.
- Section 55-8-209 - Issuer's lien.
- Section 55-8-210 - Overissue.
- Section 55-8-301 - Delivery.
- Section 55-8-302 - Rights of purchaser.
- Section 55-8-303 - Protected purchaser.
- Section 55-8-304 - Indorsement.
- Section 55-8-305 - Instruction.
- Section 55-8-306 - Effect of guaranteeing signature, indorsement or instruction.
- Section 55-8-307 - Purchaser's right to requisites for registration of transfer.
- Section 55-8-308 to 55-8-321 - Repealed.
- Section 55-8-401 - Duty of issuer to register transfer.
- Section 55-8-402 - Assurance that indorsement or instruction is effective.
- Section 55-8-403 - Demand that issuer not register transfer.
- Section 55-8-404 - Wrongful registration.
- Section 55-8-405 - Replacement of lost, destroyed or wrongfully taken security certificate.
- Section 55-8-406 - Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate.
- Section 55-8-407 - Authenticating trustee, transfer agent and registrar.
- Section 55-8-408 - Repealed.
- Section 55-8-501 - Securities account; acquisition of security entitlement from securities intermediary.
- Section 55-8-502 - Assertion of adverse claim against entitlement holder.
- Section 55-8-503 - Property interest of entitlement holder in financial asset held by securities intermediary.
- Section 55-8-504 - Duty of securities intermediary to maintain financial asset.
- Section 55-8-505 - Duty of securities intermediary with respect to payments and distributions.
- Section 55-8-506 - Duty of securities intermediary to exercise rights as directed by entitlement holder.
- Section 55-8-507 - Duty of securities intermediary to comply with entitlement order.
- Section 55-8-508 - Duty of securities intermediary to change entitlement holder's position to other form of security holding.
- Section 55-8-509 - Specification of duties of securities intermediary by other statute or regulation; manner of performance of duties of securities intermediary and exercise of rights of entitlement h
- Section 55-8-510 - Rights of purchaser of security entitlement from entitlement holder.
- Section 55-8-511 - Priority among security interests and entitlement holders.
- Article 9 - Secured Transactions, 55-9-101 through 55-9-710.
- Section 55-9-101 - Short title.
- Section 55-9-102 - Definitions and index of definitions.
- Section 55-9-103 - Purchase-money security interest; application of payments; burden of establishing.
- Section 55-9-104 - Control of deposit account.
- Section 55-9-105 - Control of electronic chattel paper.
- Section 55-9-106 - Control of investment property.
- Section 55-9-107 - Control of letter-of-credit right.
- Section 55-9-108 - Sufficiency of description.
- Section 55-9-109 - Scope.
- Section 55-9-110 - Security interests arising under Chapter 55, Article 2 or 2A NMSA 1978.
- Section 55-9-111 - Repealed.
- Section 55-9-112 - Superseded.
- Section 55-9-113 - Superseded.
- Section 55-9-114 - Superseded.
- Section 55-9-115 - Superseded.
- Section 55-9-116 - Superseded.
- Section 55-9-201 - General effectiveness of security agreement.
- Section 55-9-202 - Title to collateral immaterial.
- Section 55-9-203 - Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.
- Section 55-9-204 - After-acquired property; future advances.
- Section 55-9-205 - Use or disposition of collateral permissible.
- Section 55-9-206 - Security interest arising in purchase or delivery of financial asset.
- Section 55-9-207 - Rights and duties of secured party having possession or control of collateral.
- Section 55-9-208 - Additional duties of secured party having control of collateral.
- Section 55-9-209 - Duties of secured party if account debtor has been notified of assignment.
- Section 55-9-210 - Request for accounting; request regarding list of collateral or statement of account.
- Section 55-9-301 - Law governing perfection and priority of security interests.
- Section 55-9-302 - Law governing perfection and priority of agricultural liens.
- Section 55-9-303 - Law governing perfection and priority of security interests in goods covered by a certificate of title.
- Section 55-9-304 - Law governing perfection and priority of security interests in deposit accounts.
- Section 55-9-305 - Law governing perfection and priority of security interests in investment property.
- Section 55-9-306 - Law governing perfection and priority of security interests in letter-of-credit rights.
- Section 55-9-307 - Location of debtor.
- Section 55-9-308 - When security interest or agricultural lien is perfected; continuity of perfection.
- Section 55-9-309 - Security interest perfected upon attachment.
- Section 55-9-310 - When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.
- Section 55-9-311 - Perfection of security interests in property subject to certain statutes, regulations and treaties.
- Section 55-9-312 - Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights and money; perf
- Section 55-9-313 - When possession by or delivery to secured party perfects security interest without filing.
- Section 55-9-314 - Perfection by control.
- Section 55-9-315 - Secured party's rights on disposition of collateral and in proceeds.
- Section 55-9-316 - Continued perfection of security interest following change in governing law.
- Section 55-9-317 - Interests that take priority over or take free of security interest or agricultural lien.
- 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.
- Section 55-9-319 - Rights and title of consignee with respect to creditors and purchasers.
- Section 55-9-320 - Buyer of goods.
- Section 55-9-321 - Licensee of general intangible and lessee of goods in ordinary course of business.
- Section 55-9-322 - Priorities among conflicting security interests in and agricultural liens on same collateral.
- Section 55-9-323 - Future advances.
- Section 55-9-324 - Priority of purchase-money security interests.
- Section 55-9-325 - Priority of security interests in transferred collateral.
- Section 55-9-326 - Priority of security interests created by new debtor.
- Section 55-9-327 - Priority of security interests in deposit account.
- Section 55-9-328 - Priority of security interests in investment property.
- Section 55-9-329 - Priority of security interests in letter-of-credit right.
- Section 55-9-330 - Priority of purchaser of chattel paper or instrument.
- Section 55-9-331 - Priority of rights of purchasers of instruments, documents and securities under other articles; priority of interests in financial assets and security entitlements under Chapter 55,
- Section 55-9-332 - Transfer of money; transfer of funds from deposit account.
- Section 55-9-333 - Priority of certain liens arising by operation of law.
- Section 55-9-334 - Priority of security interests in fixtures.
- Section 55-9-335 - Accessions.
- Section 55-9-336 - Commingled goods.
- Section 55-9-337 - Priority of security interests in goods covered by certificate of title.
- Section 55-9-338 - Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.
- Section 55-9-339 - Priority subject to subordination.
- Section 55-9-340 - Effectiveness of right of recoupment or set-off against deposit account.
- Section 55-9-341 - Bank's rights and duties with respect to deposit account.
- Section 55-9-342 - Bank's right to refuse to enter into or disclose existence of control agreement.
- Section 55-9-401 - Alienability of debtor's rights.
- Section 55-9-402 - Secured party not obligated on contract of debtor or in tort.
- Section 55-9-403 - Agreement not to assert defenses against assignee.
- Section 55-9-404 - Rights acquired by assignee; claims and defenses against assignee.
- Section 55-9-405 - Modification of assigned contract.
- Section 55-9-406 - Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promi
- Section 55-9-407 - Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest.
- Section 55-9-408 - Restrictions on assignment of promissory notes, health-care-insurance receivables and certain general intangibles ineffective.
- Section 55-9-409 - Restrictions on assignment of letter-of-credit rights ineffective.
- Section 55-9-501 - Filing office.
- Section 55-9-502 - Contents of financing statement; record of mortgage as financing statement; time of filing financing statement.
- Section 55-9-503 - Name of debtor and secured party.
- Section 55-9-504 - Indication of collateral.
- Section 55-9-505 - Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions.
- Section 55-9-506 - Effect of errors or omissions.
- Section 55-9-507 - Effect of certain events on effectiveness of financing statement.
- Section 55-9-508 - Effectiveness of financing statement if new debtor becomes bound by security agreement.
- Section 55-9-509 - Persons entitled to file a record.
- Section 55-9-510 - Effectiveness of filed record.
- Section 55-9-511 - Secured party of record.
- Section 55-9-512 - Amendment of financing statement.
- Section 55-9-513 - Termination statement.
- Section 55-9-514 - Assignment of powers of secured party of record.
- Section 55-9-515 - Duration and effectiveness of financing statement; effect of lapsed financing statement.
- Section 55-9-516 - What constitutes filing; effectiveness of filing.
- Section 55-9-517 - Effect of indexing errors.
- Section 55-9-518 - Claim concerning inaccurate or wrongfully filed record.
- Section 55-9-519 - Numbering, maintaining and indexing records; communicating information provided in records.
- Section 55-9-520 - Acceptance and refusal to accept record.
- Section 55-9-521 - Form of financing statement and amendment; records.
- Section 55-9-522 - Maintenance and destruction of records.
- Section 55-9-523 - Information from secretary of state.
- Section 55-9-524 - Delay by secretary of state.
- Section 55-9-525 - Fees.
- Section 55-9-526 - Filing-office rules.
- Section 55-9-601 - Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes.
- Section 55-9-602 - Waiver and variance of rights and duties.
- Section 55-9-603 - Agreement on standards concerning rights and duties.
- Section 55-9-604 - Procedure if security agreement covers real property or fixtures.
- Section 55-9-605 - Unknown debtor or secondary obligor.
- Section 55-9-606 - Time of default for agricultural lien.
- Section 55-9-607 - Collection and enforcement by secured party.
- Section 55-9-608 - Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.
- Section 55-9-609 - Secured party's right to take possession after default.
- Section 55-9-610 - Disposition of collateral after default.
- Section 55-9-611 - Notification before disposition of collateral.
- Section 55-9-612 - Timeliness of notification before disposition of collateral.
- Section 55-9-613 - Contents and form of notification before disposition of collateral; general.
- Section 55-9-614 - Contents and form of notification before disposition of collateral; consumer-goods transaction.
- Section 55-9-615 - Application of proceeds of disposition; liability for deficiency and right to surplus.
- Section 55-9-616 - Explanation of calculation of surplus or deficiency.
- Section 55-9-617 - Rights of transferee of collateral.
- Section 55-9-618 - Rights and duties of certain secondary obligors.
- Section 55-9-619 - Transfer of record or legal title.
- Section 55-9-620 - Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral.
- Section 55-9-621 - Notification of proposal to accept collateral.
- Section 55-9-622 - Effect of acceptance of collateral.
- Section 55-9-623 - Right to redeem collateral.
- Section 55-9-624 - Waiver.
- Section 55-9-625 - Remedies for secured party's failure to comply with article.
- Section 55-9-626 - Action in which deficiency or surplus is in issue.
- Section 55-9-627 - Determination of whether conduct was commercially reasonable.
- Section 55-9-628 - Nonliability and limitation on liability of secured party; liability of secondary obligor.
- Section 55-9-701 - Effective date.
- Section 55-9-702 - Saving clause.
- Section 55-9-703 - Temporary transition provision; security interest perfected before effective date.
- Section 55-9-704 - Temporary transition provision; security interest unperfected before effective date.
- Section 55-9-705 - Temporary transition provision; effectiveness of action taken before effective date.
- Section 55-9-706 - Temporary transition provision; when initial financing statement suffices to continue effectiveness of financing statement.
- Section 55-9-707 - Temporary transition provision; amendment of pre-effective-date financing statement.
- Section 55-9-708 - Temporary transition provision; persons entitled to file initial financing statement or continuation statement.
- Section 55-9-709 - Temporary transition provision; priority.
- Section 55-9-710 - Temporary transition provision; certain records of county clerks.
- Article 12 - Effective Date and Transition Provisions, 55-12-101 through 55-12-111.
- Section 55-12-101 - Effective date; ["old U.C.C." and "new U.C.C." defined]
- Section 55-12-102 - Preservation of old transition provision.
- Section 55-12-103 - Transition to new U.C.C.; general rule.
- Section 55-12-104 - Transition provision on change of requirement of filing.
- Section 55-12-105 - Transition provision on change of place of filing.
- Section 55-12-106 - Required refilings.
- Section 55-12-107 - Transition provisions as to priorities.
- Section 55-12-108 - Presumption that rule of law continues unchanged.
- Section 55-12-109 - Saving clause.
- Section 55-12-110 - Temporary provision; effectiveness.
- Section 55-12-111 - Temporary provision; effectiveness.