Every pawnbroker shall keep a permanent record, fully itemized, of all pledged property disposed of following default by the pledgor. The record shall include the following:
A. the number of the pawn transaction;
B. the name and address of the pledgor;
C. the date of the pawn transaction and the date of the last payment received as service charge or on principal;
D. the date of disposition of the pledged property pursuant to Section 11 [56-12-11 NMSA 1978] of the Pawnbrokers Act;
E. the method of disposition of the pledged property; and
F. the amount and disposition of any surplus following disposition of the pledged property.
History: Laws 1985, ch. 228, ยง 12.
Structure New Mexico Statutes
Chapter 56 - Commercial Instruments and Transactions
Section 56-12-1 - Short title.
Section 56-12-2 - Definitions.
Section 56-12-4 - Permits required; inspection fee; penalty.
Section 56-12-5 - Administration; applicability of other laws.
Section 56-12-6 - Pawnbroker; bond required.
Section 56-12-7 - Application for permit; requirements.
Section 56-12-8 - Suspension or revocation of permit; notice; hearing.
Section 56-12-9 - Pawnbroker reports; records; delivery; violations.
Section 56-12-10 - Pawn ticket.
Section 56-12-11 - Default; disposition of pledged property.
Section 56-12-12 - Record of disposition of pledged property.
Section 56-12-13 - Pawn service charge.
Section 56-12-14 - Prohibited practices.