(a) As used in Chapter 55, Article 12A NMSA 1978: (1) "adjustment date" means July 1, 2025; (2) "Article 12" means Article 12 of the Uniform Commercial Code; and (3) "Article 12 property" means a controllable account, controllable electronic record or controllable payment intangible. (b) The following definitions in other articles of the Uniform Commercial Code apply to this article: (1) "controllable account", as provided in Section 55-9-102 NMSA 1978; (2) "controllable electronic record", as provided in Section 55-12-102 NMSA 1978; (3) "controllable payment intangible", as provided in Section 55-9-102 NMSA 1978; (4) "electronic money", as provided in Section 55-9-102 NMSA 1978; and (5) "financing statement", as provided in Section 55-9-102 NMSA 1978. (c) Article 1 of the Uniform Commercial Code contains general definitions and principles of construction and interpretation applicable throughout this article. History: 1978 Comp., § 55-12A-102, enacted by Laws 2023, ch. 142, § 104. OFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Subsection headings. — Subsection headings are not a part of the official text itself and have not been approved by the sponsors. Effective dates. — Laws 2023, ch. 142, § 112 made Laws 2023, ch. 142, § 104 effective January 1, 2024.
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