Chapter 58, Article 7 NMSA 1978 may be cited as the "New Mexico Bank Installment Loan Act of 1959".
History: 1953 Comp., § 48-21-1, enacted by Laws 1959, ch. 327, § 1; 2017, ch. 110, § 2.
The 2017 amendment, effective January 1, 2018, changed "This act shall be known" to "Chapter 58, Article 7 NMSA 1978 may be cited".
Applicability. — Laws 2017, ch. 110, § 26 provided that the provisions of Laws 2017, ch. 110 shall apply to loans subject to the New Mexico Small Loan Act of 1955 and the New Mexico Bank Installment Loan Act of 1959 executed on or after January 1, 2018.
Am. Jur. 2d, A.L.R. and C.J.S. references. — Failure of moneylender or creditor engaged in business of making loans to procure license or permit as affecting validity or enforceability of contract, 29 A.L.R.4th 884.
Construction and application of Consumer Credit Protection Act provisions (18 USCS §§ 891-894) prohibiting extortionate credit transactions, 106 A.L.R. Fed. 33.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Section 58-7-2 - Persons to whom act applicable.
Section 58-7-3 - Loans covered by act.
Section 58-7-3.1 - Precomputed loan.
Section 58-7-3.2 - Extension agreement.
Section 58-7-3.4 - Right of rescission.
Section 58-7-5 - Prepayment; precomputed loan transactions.
Section 58-7-6 - Permitted charges; limitation on presentment.
Section 58-7-7 - Restrictions.
Section 58-7-8 - Penalties and forfeitures.
Section 58-7-9 - Construction; definitions.