Any person, corporation or association who shall violate the provisions of this act [56-8-9, 56-8-12 to 56-8-14 NMSA 1978] shall be guilty of a misdemeanor, and upon conviction thereof before the district court or a justice of the peace shall be fined the sum of not less than twenty-five ($25.00) dollars, nor more than one hundred ($100.00) dollars.
History: 1953 Comp., § 50-6-19, enacted by Laws 1957, ch. 209, § 5.
Saving clauses. — Laws 1957, ch. 209, § 6 provided that none of the provisions of the New Mexico Small Loan Act of 1955, Laws 1955, ch. 128, is amended or repealed by this act.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 45 Am. Jur. 2d Interest and Usury §§ 307, 357 to 360.
Construction and application of Consumer Credit Protection Act provisions (18 USCS §§ 891-894) prohibiting extortionate credit transactions, 106 A.L.R. Fed. 33.
91 C.J.S. Usury § 160.
Structure 2021 New Mexico Statutes
Chapter 56 - Commercial Instruments and Transactions
Article 8 - Money, Interest and Usury
Section 56-8-1 - [Lawful money; definition; application.]
Section 56-8-2 - [Denominations to be reduced to lawful basis in actions.]
Section 56-8-3 - Interest rate; no written contract.
Section 56-8-4 - Judgments and decrees; basis of computing interest.
Section 56-8-5 - Interest; open accounts.
Section 56-8-6 - Grain purchase contracts; disclosure regarding act of God clause.
Section 56-8-7 - Procuring loans; rate of commission; exceptions.
Section 56-8-8 - [Excessive commission for procuring loan; penalty.]
Section 56-8-9 - Excessive charges prohibited; applicability of maximum rates; definition.
Section 56-8-10 - Farm, ranch and agriculture loans.
Section 56-8-12 - Loans by agent; liability of principal.
Section 56-8-13 - Penalties and forfeitures.
Section 56-8-14 - Criminal penalty.
Section 56-8-15 to 56-8-20 - Repealed.
Section 56-8-21 - Usury; corporations and limited partnerships.
Section 56-8-22 - Short title.
Section 56-8-23 - Purpose of act.
Section 56-8-24 - Definitions.
Section 56-8-25 to 56-8-28 - Repealed.