A. A person shall not engage in the business of money transmission or advertise, solicit or hold itself out as providing money transmission unless the person: (1) is licensed pursuant to Article 2 [58-32-201 to 58-32-206 NMSA 1978] of the Uniform Money Services Act; or (2) is an authorized delegate of a person licensed pursuant […]
A. When an application is filed pursuant to Article 2 [58-32-201 to 58-32-206 NMSA 1978] of the Uniform Money Services Act, the director shall investigate the applicant’s financial condition and responsibility, financial and business experience, character and general fitness. The director may conduct an onsite investigation of the applicant, in New Mexico or in any […]
A. A license issued pursuant to Article 2 [58-32-201 to 58-32-206 NMSA 1978] of the Uniform Money Services Act shall expire on December 31 each year. A licensee pursuant to Article 2 of the Uniform Money Services Act shall pay an annual renewal fee of one thousand dollars ($1,000) and twenty-five dollars ($25.00) for each […]
A licensee pursuant to Article 2 [58-32-201 to 58-32-206 NMSA 1978] of the Uniform Money Services Act shall maintain a net worth of at least the following amounts determined in accordance with generally accepted accounting principles: A. for one to four locations of the licensee and authorized delegates in New Mexico, one hundred thousand dollars […]
