A. In every instance where an original contractor proposes to contract with a subcontractor or materialman or both for any site improvement, the original contractor shall inform the subcontractor and materialman of:
(1) the name and address of the owner of the residential site;
(2) the name and address of the construction lender lending the funds, if any, and the loan officer who actually made the construction loan, if any, for the site improvement; and
(3) the accurate legal description of the residential site, if available, however in all cases a description of the residential site sufficient for identification.
B. Where a subcontractor contracts with another subcontractor for labor or a materialman to provide materials for any site improvement, he shall, upon request, inform the contractor or materialman of:
(1) the name and address of the owner of the residential site;
(2) the name and address of the construction lender lending the funds, if any, and the loan officer who actually made the construction loan, if any, for the site improvement; and
(3) the accurate legal description of the residential site.
History: Laws 1989, ch. 301, ยง 4.
Structure 2021 New Mexico Statutes
Chapter 48 - Liens and Mortgages
Section 48-2A-1 - Short title.
Section 48-2A-3 - Definitions.
Section 48-2A-4 - Requirements for disclosure; owners and construction lenders.
Section 48-2A-5 - Stop notices; contents.
Section 48-2A-7 - Stop notices; bonds.
Section 48-2A-8 - Distribution of construction funds; liability.
Section 48-2A-9 - Limitations for filing suit by claimant.
Section 48-2A-10 - Claim satisfied notice; procedure; contents; penalty.