New Mexico Statutes
Article 18A - Collection Agencies
Section 61-18A-3 - Administration and enforcement.

A. The administration and enforcement of the Collection Agency Regulatory Act shall be vested in the office of the director as set forth in that act.
B. The director shall investigate violations or alleged violations of the Collection Agency Regulatory Act by persons engaged in business as collection agencies or repossessors who fail to obtain licenses.
C. The director may examine the business and the books, accounts, records and files used therein by a collection agency licensee, and for such purpose, the director shall have free access to the offices, places of business, books, accounts, records, papers, files, safes and vaults of all licensees and other persons engaging or attempting to engage in business as a collection agency.
D. Any examination reports or other documents or information developed in administration of this section are confidential and not subject to subpoena.
E. Applicants for a license issued pursuant to the Collection Agency Regulatory Act shall apply on a form prescribed by the director. Information required on the form shall be set forth by rule, instruction or procedure of the director and may be changed or updated as necessary by the director in order to carry out the purposes of the Collection Agency Regulatory Act.
F. In order to fulfill the purposes of the Collection Agency Regulatory Act, the director may establish relationships or contracts with the nationwide multistate licensing system and registry or other entities designated by the nationwide multistate licensing system and registry to collect and maintain records and process transaction fees or other fees related to licenses issued pursuant to the Collection Agency Regulatory Act.
G. An applicant for a license pursuant to the Collection Agency Regulatory Act shall, at a minimum, furnish to the nationwide multistate licensing system and registry information concerning the applicants identity, including:
(1) the applicant's personal history and experience in a form prescribed by the nationwide multistate licensing system and registry; and
(2) authorization for the nationwide multistate licensing system and registry and the director to obtain information related to any administrative, civil or criminal findings by any governmental jurisdiction regarding the applicant.
H. The director may use the nationwide multistate licensing system and registry as a channeling agent for requesting and distributing information provided pursuant to Paragraphs (1) and (2) of Subsection G of this section to and from any source as deemed appropriate by the director.
History: Laws 1987, ch. 252, § 3; 2019, ch. 144, § 26.
The 2019 amendment, effective July 1, 2019, revised certain licensing procedures for licenses required by the Collection Agency Regulatory Act, and provided for the director of the financial institutions division of the regulation and licensing department to utilize the nationwide multistate licensing system and registry to receive and process applications for licenses; added new subsection designation "A." and redesignated former Subsections A through C as Subsections B through D, respectively; and added Subsections E through H.

Structure New Mexico Statutes