New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 15 - Small Loan Business

Section 58-15-1 - Objects and purposes of act. - The following are hereby declared to be the objects and...

Section 58-15-2 - Definitions. - The following words and terms when used in the New...

Section 58-15-3 - Applicability of act; exemptions; evasions; penalty. - A. A person shall not engage in the business of...

Section 58-15-4 - Application, investigation and fee; agent for service of process. - A. Application for a license and any annual license renewal...

Section 58-15-5 - Licenses; investigation of application; issuance; denial; issuance of renewal license; denial of renewal license; fitness and character of applicant; license fees; licensee bound by act. - A. Upon the filing of an application, whether it is...

Section 58-15-6 - Contents and posting of license; limitation of authority granted by license; effective date of license; minimum assets. - A. Each license shall state the address at which the...

Section 58-15-7 - Place of business; change; residence of borrower. - A. Not more than one place of business shall be...

Section 58-15-8 - Revocation, suspension and reinstatement of licenses. - A. The director shall revoke no license issued hereunder unless...

Section 58-15-9 - Examination of licensee's books and records; witnesses. - A. At least once each year, the director or the...

Section 58-15-10 - Books and records; annual reports; additional information. - A. Each licensee shall keep and use in the business...

Section 58-15-10.1 - Licensee reporting requirements; penalties. - A. Licensees shall file with the director each year reports...

Section 58-15-10.2 - Reporting of credit required. - For each installment loan and refund anticipation loan made pursuant...

Section 58-15-11 - Regulations and orders; certified copies. - A. The director has authority to make reasonable regulations and...

Section 58-15-12 - Advertising. - A licensee or other person subject to the New Mexico...

Section 58-15-13 - Licensed offices; other business. - A. No licensee shall conduct the business of making loans...

Section 58-15-14 - Repealed. - Repeals. — Laws 1981, ch. 263, § 4, repealed 58-15-14...

Section 58-15-14.1 - Charges; method of computation. - The simple interest method shall be used for loans made...

Section 58-15-15 - Repealed. - History: 1953 Comp., § 48-17-43.1, enacted by Laws 1959, ch....

Section 58-15-15.1 - No prepayment penalty on small loans. - No provision in a loan or the evidence of indebtedness...

Section 58-15-16 - Loan insurance allowable; financing certain premiums prohibited. - A. It is unlawful for any person licensed under the...

Section 58-15-17 - Requirements for making and paying of loans; incomplete instruments; limitations on charges after judgment and interest. - A. Every licensee shall: (1) at the time a consumer...

Section 58-15-18 - Repealed. - History: 1953 Comp., § 48-17-45, enacted by Laws 1955, ch....

Section 58-15-19 - Loans under other laws. - Any licensee hereunder may make loans in accordance with and...

Section 58-15-20 - Fees and costs. - A. Notwithstanding any provision of the New Mexico Small Loan...

Section 58-15-20.1 - Installment loans; refund anticipation loans; insufficient funds; permitted charges. - A. If there are insufficient funds to pay a check...

Section 58-15-21 - What constitutes loan of money; wage purchases. - The payment of five thousand dollars ($5,000) or less in...

Section 58-15-22 - [Assignments; validity; amount collectible.] - A. Validity and payment of assignment. No assignment of or...

Section 58-15-23 - Violation of general usury laws. - The violation by a licensee or by an officer, manager,...

Section 58-15-24 - Loans made elsewhere. - No loan made outside this state to a resident of...

Section 58-15-25 - Review. - Any licensee or any person aggrieved by any act or...

Section 58-15-26 - Status of preexisting licensees. - Notwithstanding the repeal thereof by the New Mexico Small Loan...

Section 58-15-27 - Amendment. - This act, or any part thereof, may be modified, amended...

Section 58-15-28 - Status of preexisting obligations. - Nothing herein contained shall be so construed as to impair...

Section 58-15-29 - Director to keep record of fees, expenses and disposition of money. - The director shall keep a detailed record of all fees,...

Section 58-15-30 - Penalties; general. - Any person, copartnership, trust, association or corporation and the several...

Section 58-15-31 - Short title. - Chapter 58, Article 15 NMSA 1978 may be cited as...

Section 58-15-32 - Repealed. - History: Laws 2007, ch. 86, § 14; repealed by Laws...

Section 58-15-33 - Repealed. - History: Laws 2007, ch. 86, § 15; repealed by Laws...

Section 58-15-34 - Repealed. - History: Laws 2007, ch. 86, § 16; repealed by Laws...

Section 58-15-35 - Repealed. - History: Laws 2007, ch. 86, § 17; repealed by Laws...

Section 58-15-36 - Repealed. - History: Laws 2007, ch. 86, § 18; repealed by Laws...

Section 58-15-37 - Repealed. - History: Laws 2007, ch. 86, § 19; repealed by Laws...

Section 58-15-38 - Repealed. - History: Laws 2007, ch. 86, § 20; repealed by Laws...

Section 58-15-39 - Duties of division. - A. The division shall: (1) maintain a list of licensees,...

Section 58-15-40 - Financial literacy fund. - The "financial literacy fund" is created in the state treasury....

Section 58-15-41 - Preemption. - The state has exclusive jurisdiction and authority regarding the terms...

Section 58-15-42 - Right of rescission. - All loan agreements shall include a provision granting the borrower...