Section 48-3-23 - Possession; when lien shall not exist.

NM Stat § 48-3-23 (2019) (N/A)
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The possession required under this act [48-3-22 to 48-3-27 NMSA 1978] shall be physical custody. No lien shall exist where:

A. the article has not been delivered to the physical custody of the person or firm claiming the lien;

B. without fraud or false representation, the physical custody of the article has been surrendered by the person or firm performing the work or service;

C. the person or firm performing the work or service has accepted collateral security for payment of the amount due.

History: 1941 Comp., § 63-318, enacted by Laws 1953, ch. 125, § 2; 1953 Comp., § 61-3-21.

Am. Jur. 2d, A.L.R. and C.J.S. references. — Right to require security as condition of canceling lien of record or of recording payment, 2 A.L.R.2d 1064.