Upon receipt of the license, the licensee has the right to conduct the business of a collection agency, repossessor, manager or solicitor with all the powers and privileges applicable thereto, contained in but subject always to all the provisions of the Collection Agency Regulatory Act and any rules and regulations established thereunder.
History: Laws 1987, ch. 252, ยง 17.
Structure New Mexico Statutes
Chapter 61 - Professional and Occupational Licenses
Article 18A - Collection Agencies
Section 61-18A-1 - Short title.
Section 61-18A-2 - Definitions.
Section 61-18A-3 - Administration and enforcement.
Section 61-18A-4 - Rules and regulations; violations.
Section 61-18A-6 - Penalty for violations.
Section 61-18A-7 - Application for license.
Section 61-18A-8 - Applications; required information.
Section 61-18A-9 - Financial statement.
Section 61-18A-10 - Manager's license and examination.
Section 61-18A-11 - Qualification of manager applicants.
Section 61-18A-12 - Approval of applications.
Section 61-18A-13 - Denial of applications.
Section 61-18A-14 - License to foreign corporation or partnership.
Section 61-18A-15 - Surety bond.
Section 61-18A-16 - Information to be included in collection agency license.
Section 61-18A-17 - Right granted by license.
Section 61-18A-19 - Change of location; ownership or name; duplicate license.
Section 61-18A-20 - Temporary license.
Section 61-18A-21 - Branch office.
Section 61-18A-22 - Office management; license.
Section 61-18A-23 - Loss of qualified person.
Section 61-18A-25 - Unauthorized practice as collection agency.
Section 61-18A-26 - Assignments; right to sue.
Section 61-18A-27 - Renewal of license; fee.
Section 61-18A-28 - Remittance of collections to clients.
Section 61-18A-28.1 - Additional collection from debtors.
Section 61-18A-31 - Deposit of moneys in general fund.