No person may require the purchase of a service contract as a condition for the approval of a loan or the purchasing of property.
History: Laws 2001, ch. 206, § 14.
Effective dates. — Laws 2001, ch. 206, § 20 made Laws 2001, ch. 206, § 14 effective July 1, 2002.
Structure New Mexico Statutes
Article 58 - Service Contract Regulation
Section 59A-58-1 - Short title.
Section 59A-58-2 - Definitions.
Section 59A-58-3 - Exclusions from act.
Section 59A-58-4 - Prohibition of sale of service contract unless registered.
Section 59A-58-5 - Registration requirements.
Section 59A-58-6 - Security required for registration of provider.
Section 59A-58-7 - Transactions exempt from premium tax.
Section 59A-58-8 - Transactions not subject to New Mexico Insurance Code; exceptions.
Section 59A-58-9 - Right of holder to return service contract for refund.
Section 59A-58-10 - Information required in service contract.
Section 59A-58-10.1 - Automatic renewal; notice.
Section 59A-58-11 - Receipt for and copy of service contract required.
Section 59A-58-12 - Cancellation of service contract.
Section 59A-58-13 - Business name restrictions.
Section 59A-58-15 - Records requirements.
Section 59A-58-16 - Examinations and inspection of books by superintendent.