Counties and municipalities, including home rule counties and municipalities, are prohibited from enacting and enforcing ordinances, resolutions or rules regulating financial or lending activities or imposing reporting requirements or any other obligations upon creditors regarding home loans that are subject to the Home Loan Protection Act.
History: Laws 2003, ch. 436, § 10.
Effective dates. — Laws 2003, ch. 436, § 19 made this section effective July 1, 2003 and provided that on or after that date no county or municipality shall enact or enforce any ordinance, resolution, or rule regarding home loans that are subject to the Home Loan Protection Act or that, except for the delayed applicability date of the Act (January 1, 2004) would otherwise be subject to the act.
Applicability. — Laws 2003, ch. 436, § 19A made the Home Loan Protection Act applicable to all home loans made or entered into after January 1, 2004.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 21A - Home Loan Protection
Section 58-21A-1 - Short title.
Section 58-21A-3 - Definitions.
Section 58-21A-4 - Prohibited practices and provisions regarding home loans.
Section 58-21A-5 - Limitations and prohibited practices for high-cost home loans.
Section 58-21A-6 - Default; notice; right to cure.
Section 58-21A-8 - Subterfuge prohibited.
Section 58-21A-9 - Civil action.
Section 58-21A-10 - Preemption.
Section 58-21A-11 - Actions based on home loans.
Section 58-21A-12 - Application of Unfair Practices Act.