Section 58-15-37 – Repealed.
History: Laws 2007, ch. 86, § 19; repealed by Laws 2017, ch. 110, § 25. ANNOTATIONS Repeals. — Laws 2017, ch. 110, § 25 repealed 58-15-37 NMSA 1978, as enacted by Laws 2007, ch. 86, § 19, relating to payday loans, verification, effective January 1, 2018. For provisions of former section, see the 2017 NMSA […]
Section 58-15-38 – Repealed.
History: Laws 2007, ch. 86, § 20; repealed by Laws 2017, ch. 110, § 25. ANNOTATIONS Repeals. — Laws 2017, ch. 110, § 25 repealed 58-15-38 NMSA 1978, as enacted by Laws 2007, ch. 86, § 20, relating to required disclosures when making payday loans, required signage, effective January 1, 2018. For provisions of former […]
Section 58-15-39 – Duties of division.
A. The division shall: (1) maintain a list of licensees, which list shall be available to interested persons and the public; and (2) establish a complaint process whereby an aggrieved consumer or other person may file a complaint against a licensee. B. The division shall compile from reports filed by licensees pursuant to Section 58-15-10.1 […]
Section 58-15-40 – Financial literacy fund.
The “financial literacy fund” is created in the state treasury. The fund shall consist of appropriations, gifts, grants, donations and bequests made to the fund and fees received pursuant to Subsection L of Section 58-15-5 NMSA 1978. Income from the fund shall be credited to the fund, and money in the fund shall not revert […]
Section 58-15-41 – Preemption.
The state has exclusive jurisdiction and authority regarding the terms and conditions of permitted installment loans and refund anticipation loans, and counties, municipalities and other political subdivisions of the state are preempted from any regulation of terms and conditions of permitted installment loans and refund anticipation loans by ordinance, resolution or otherwise. History: Laws 2017, […]
Section 58-15-42 – Right of rescission.
All loan agreements shall include a provision granting the borrower the right to rescind the transaction by returning in cash, or through certified funds, one hundred percent of the amount advanced by the lender under the New Mexico Small Loan Act of 1955 no later than the close of business New Mexico time or, if […]
Section 58-15-33 – Repealed.
History: Laws 2007, ch. 86, § 15; repealed by Laws 2017, ch. 110, § 25. ANNOTATIONS Repeals. — Laws 2017, ch. 110, § 25 repealed 58-15-33 NMSA 1978, as enacted by Laws 2007, ch. 86, § 15, relating to payday loan products, permitted charges, effective January 1, 2018. For provisions of former section, see the […]
Section 58-15-34 – Repealed.
History: Laws 2007, ch. 86, § 16; repealed by Laws 2017, ch. 110, § 25. ANNOTATIONS Repeals. — Laws 2017, ch. 110, § 25 repealed 58-15-34 NMSA 1978, as enacted by Laws 2007, ch. 86, § 16, relating to payday loan products, prohibited acts, effective January 1, 2018. For provisions of former section, see the […]
Section 58-15-35 – Repealed.
History: Laws 2007, ch. 86, § 17; repealed by Laws 2017, ch. 110, § 25. ANNOTATIONS Repeals. — Laws 2017, ch. 110, § 25 repealed 58-15-35 NMSA 1978, as enacted by Laws 2007, ch. 86, § 17, relating to payday loans, payment plans, effective January 1, 2018. For provisions of former section, see the 2017 […]
Section 58-15-36 – Repealed.
History: Laws 2007, ch. 86, § 18; repealed by Laws 2017, ch. 110, § 25. ANNOTATIONS Repeals. — Laws 2017, ch. 110, § 25 repealed 58-15-36 NMSA 1978, as enacted by Laws 2007, ch. 86, § 18, relating to payday loans, waiting period, effective January 1, 2018. For provisions of former section, see the 2017 […]