New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 22 - Escrow Companies

Section 58-22-1 - Short title. - Chapter 58, Article 22 NMSA 1978 may be cited as...

Section 58-22-2 - Purpose. - It is the intent of the legislature that the large...

Section 58-22-3 - Definitions. - As used in the Escrow Company Act: A. "director" means...

Section 58-22-4 - Exempt persons and transactions. - The Escrow Company Act shall not apply to: A. banks,...

Section 58-22-5 - Exemption or exception; burden of proof. - In any proceeding under the Escrow Company Act, the burden...

Section 58-22-6 - Director; duties and powers. - The director shall exercise general supervision and control over escrow...

Section 58-22-7 - License required. - No person shall engage in business as an escrow company...

Section 58-22-8 - Application for license. - Applications for a license as an escrow company shall be...

Section 58-22-9 - Annual renewal of license. - A. A licensee shall renew its license for each of...

Section 58-22-10 - Surety bond required. - An escrow company shall obtain a surety bond in the...

Section 58-22-11 - Repealed. - Repeals. — Laws 1986, ch. 21, § 2 repeals former...

Section 58-22-12 - Issuance of license. - Upon receiving and filing the application and bond coverage specified...

Section 58-22-13 - Action on bond; limitation. - No action shall be brought upon any bond required pursuant...

Section 58-22-14 - New bond required; effect of failure to file new bond. - Upon any recovery in an action on a bond required...

Section 58-22-15 - Grounds for denying a license. - The director may deny an escrow company's application for initial...

Section 58-22-16 - Transferability. - An escrow agent license is not transferable or assignable. The...

Section 58-22-17 - Keeping of records; examination. - A. Every licensee shall make and keep such accounts, correspondence,...

Section 58-22-18 - Statement of account. - A. Within fourteen days of a written request made by...

Section 58-22-19 - Division documents exception to Inspection of Public Records Act. - Division examination reports, financial information contained in licensee applications and...

Section 58-22-20 - Bank deposit required; maintenance of trust accounts. - All money received in escrow prior to disbursement shall be...

Section 58-22-21 - Attachment. - Funds received pursuant to escrow or trust funds are not...

Section 58-22-21.1 - Suit to recover trust funds; attorney's fees authorized. - An escrow agent, in any action brought against a party...

Section 58-22-22 - Removal. - A licensee's business shall not be removed from the premises...

Section 58-22-23 - Additional business office locations. - Licensees under the Escrow Company Act shall be entitled to...

Section 58-22-24 - Fees. - The director shall charge and collect the following fees: A....

Section 58-22-25 - Limit on fees for servicing loans or contracts of sale. - For servicing loans or contracts of sale, a licensee may...

Section 58-22-26 - Unauthorized business practices. - A. Unauthorized business practices of escrow agents include but are...

Section 58-22-26.1 - Right to rely upon written instructions; conflicting demands upon escrow agent; right to interplead; custody of documents; attorney's fees authorized. - If two or more parties to an escrow make conflicting...

Section 58-22-27 - Investigations by director; desist order; injunctions; fees. - A. The director may investigate, upon complaint or otherwise, when...

Section 58-22-28 - Subpoenas, oaths and examinations of witness; penalty. - A. In the conduct of any examination, investigation or hearing,...

Section 58-22-28.1 - Violation of the Escrow Company Act; penalty. - Any person who violates Section 58-22-7, 58-22-20 or 58-22-26 NMSA...

Section 58-22-29 - Review of order of director. - A. Any person aggrieved by a final order of the...

Section 58-22-30 - Exemption from authority of superintendent of regulation and licensing. - The responsibilities and authority of the director under the Escrow...

Section 58-22-31 - Effect on persons currently engaged in escrow company business. - Any person engaged in the escrow company business in the...

Section 58-22-32 - Status of preexisting escrows. - Nothing contained in the Escrow Company Act shall be so...

Section 58-22-33 - No impairment of other remedies. - The Escrow Company Act is not intended to impair any...