Every mortgage loan company and loan broker shall make and keep those accounts, correspondence, memoranda, papers, books, data and other records as the director by rule prescribes. All records so required shall be preserved for six years.
History: Laws 1983, ch. 86, § 11; 2001, ch. 251, § 8; 2001, ch. 264, § 8.
2001 amendments. — Identical amendments to this section were enacted by Laws 2001, ch 251, § 8 and Laws 2001, ch. 264, § 8, both effective July 1, 2001, deleting "and filing of reports" from the section heading; and deleting the last two sentences, which provided for the filing of financial reports and the correction of those reports if necessary. The section is set out as amended by Laws 2001, ch. 264, § 8. See 12-1-8 NMSA 1978.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 21 - Mortgage Loan Companies
Section 58-21-1 - Short title.
Section 58-21-2 - Definitions.
Section 58-21-3 - License required; qualified manager.
Section 58-21-4 - Application for license or renewal.
Section 58-21-5 - License fees; duration of license.
Section 58-21-6 - Persons exempt from licensing.
Section 58-21-7 - Surety bond.
Section 58-21-9 - Powers and duties of director.
Section 58-21-10 - Subpoenas, oaths and examination of witnesses; penalties.
Section 58-21-11 - Keeping of records.
Section 58-21-12 - Examination of records.
Section 58-21-13 - Public inspection of applications.
Section 58-21-14 - Notice of contemplated action; hearings.
Section 58-21-15 - Investigations by director.
Section 58-21-16 - Review of order of director.
Section 58-21-17 - Escrow services.
Section 58-21-18 - Permissible charges.
Section 58-21-19 - Compliance with federal and state law.
Section 58-21-20 - False statement unlawful.
Section 58-21-21 - Fraud unlawful.
Section 58-21-23 - Filing and destruction of documents.
Section 58-21-23.1 - Repealed.
Section 58-21-23.2 - Funding of real estate transactions; enforcement.
Section 58-21-25 - No impairment of other remedies.
Section 58-21-26 - Exemption from authority of superintendent of regulation and licensing.
Section 58-21-28 - Enforcement.
Section 58-21-29 - Power of court to grant relief.
Section 58-21-30 - Unlicensed activity.