Any licensee under the Mortgage Loan Company Act who also performs any acts that are within the scope of activities regulated by any statutes of the state relating to escrow agents shall also comply with all provisions of those statutes, and the issuance of a license under the Mortgage Loan Company Act shall not serve to relieve the licensee from compliance with the provisions of such other statutes.
History: Laws 1983, ch. 86, § 17; 2009, ch. 122, § 39.
The 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act", changed "registrant" to "licensee"; and after "those statutes, and", deleted "registration", and added "the issuance of a license".
Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.
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Section 58-21-23.1 - Repealed.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.