reglab/housing_qa huggingface dataset:
NM Stat § 58-13D-5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 13D - Protecting Vulnerable Adults from Financial Exploitation|Section 58-13D-5 - Delaying disbursements or transactions.

A. A broker-dealer or investment adviser may delay a disbursement or transaction from an account of an eligible adult or an account on which an eligible adult is a beneficiary if: (1) the broker-dealer, investment adviser or qualified individual reasonably believes, after initiating an internal review of the requested disbursement or transaction and the suspected financial exploitation, that the requested disbursement or transaction may result in financial exploitation of an eligible adult; and (2) the broker-dealer or investment adviser: (a) immediately, but in no event more than two business days after the requested disbursement or transaction, provides written notification of the delay and the reason for the delay to all parties authorized to transact business on the account, unless any such party is reasonably believed to have engaged in suspected or attempted financial exploitation of the eligible adult; (b) immediately, but in no event more than two business days after the requested disbursement or transaction, notifies the agencies; and (c) provides, upon a request by the securities division of the regulation and licensing department, a status report of the internal review required pursuant to Paragraph (1) of this subsection. B. Any delay of a disbursement or transaction as authorized by this section will expire upon the sooner of: (1) a determination by the broker-dealer or investment adviser that the disbursement or transaction will not result in financial exploitation of the eligible adult; or (2) fifteen business days after the date on which the broker-dealer or investment adviser first delayed disbursement or transaction, unless either of the agencies requests that the broker-dealer or investment adviser extend the delay, in which case the delay shall expire no more than twenty-five business days after the date on which the broker-dealer or investment adviser first delayed disbursement or transaction unless otherwise terminated or extended by either of the agencies or an order of a court of competent jurisdiction. C. A court of competent jurisdiction may enter an order extending the delay of the disbursement or transaction or may order other protective relief based on the petition of the director of the securities division of the regulation and licensing department, the director of the adult protective services division of the aging and long-term services department, the broker-dealer or investment adviser that initiated the delay under this section, or other interested party. History: Laws 2017, ch. 106, § 5. ANNOTATIONSEffective dates. — Laws 2017, ch. 106, § 9 made Laws 2017, ch. 106, § 5 effective July 1, 2017.
NM Stat § 58-13D-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 13D - Protecting Vulnerable Adults from Financial Exploitation|Section 58-13D-6 - Immunity for delaying disbursements or transactions.

A broker-dealer or investment adviser that, in exercising reasonable care, complies with Section 5 [58-13D-5 NMSA 1978] of the Protecting Vulnerable Adults from Financial Exploitation Act and has completed the training required pursuant to Section 7 [58-13D-7 NMSA 1978] of that act, shall be immune from any administrative or civil liability that might otherwise arise from such delay in a disbursement or transaction in accordance with this section. History: Laws 2017, ch. 106, § 6. ANNOTATIONSEffective dates. — Laws 2017, ch. 106, § 9 made Laws 2017, ch. 106, § 6 effective July 1, 2017.
NM Stat § 58-13D-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 13D - Protecting Vulnerable Adults from Financial Exploitation|Section 58-13D-7 - Training.

A. The director of the securities division of the regulation and licensing department shall promulgate, by rule, training guidelines or a standardized training curriculum that broker-dealers and investment advisers may use. A broker-dealer or investment adviser may develop the broker-dealer's or investment adviser's own training as approved by the director. The training required by this section may include indicators of financial exploitation of an eligible adult and the process for reporting suspected financial exploitation both internally and to the agencies. B. A broker-dealer or investment adviser shall provide training concerning the financial exploitation of eligible adults to its employees who are required to be registered in New Mexico as agents or investment adviser representatives and who have contact with eligible adults and access to account information on a regular basis and as part of their job. History: Laws 2017, ch. 106, § 7. ANNOTATIONSEffective dates. — Laws 2017, ch. 106, § 9 made Laws 2017, ch. 106, § 7 effective July 1, 2017.
NM Stat § 58-13D-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 13D - Protecting Vulnerable Adults from Financial Exploitation|Section 58-13D-8 - Records.

A broker-dealer or investment adviser shall provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of an eligible adult to the agencies and to law enforcement, either as part of a referral to the agencies, as part of a referral to law enforcement or upon request of the agencies or law enforcement pursuant to an investigation. The records may include historical records as well as records relating to the most recent transaction or transactions that may comprise financial exploitation of an eligible adult. All records made available pursuant to this section shall not be considered a public record as defined in Subsection G of Section 14-2-6 NMSA 1978. Nothing in this provision shall limit or otherwise impede the authority of the director of the securities division of the regulation and licensing department to access or examine the books and records of broker-dealers and investment advisers as otherwise provided by law. History: Laws 2017, ch. 106, § 8. ANNOTATIONSEffective dates. — Laws 2017, ch. 106, § 9 made Laws 2017, ch. 106, § 8 effective July 1, 2017.
NM Stat § 58-14-1 to 58-14-21 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 14 - Installment Savings and Investment Certificates (Repealed.)|Section 58-14-1 to 58-14-21 - Repealed.

ANNOTATIONSRepeals. — Laws 1979, ch. 101, § 1, repeals 58-14-1 to 58-14-21 NMSA 1978, relating to installment savings and investment certificates and to face amount investment certificate companies.
NM Stat § 58-15-4 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-4 - Application, investigation and fee; agent for service of process.

A. Application for a license and any annual license renewal shall be in writing under oath and in the form prescribed by the director, shall give the exact location where the business is to be conducted and shall contain such other relevant information as the director may require, including identification of all parties in interest and the names and addresses of all the partners, officers, directors, trustees and beneficiaries of any trust and of such principal owners and members as will provide the basis for an investigation and findings necessary under Section 58-15-5 NMSA 1978. The application shall also include a statement accepting the license, if granted, as a privilege to be enjoyed and exercised only under all the terms and conditions of the New Mexico Small Loan Act of 1955 and under all lawful regulations of the director promulgated in that act. The applicant shall pay to the director at the time of making application for an original license the sum of one thousand dollars ($1,000). B. The application shall be accompanied by, and every licensee shall at all times maintain on file with the director, a written power of attorney appointing some person, a resident of this state, as the licensee's agent for service of all judicial or other process or legal notice and notices provided for by the New Mexico Small Loan Act of 1955, unless the licensee has appointed an agent for service of process under another statute of this state. In case of noncompliance with this subsection, such service, including service of all notices provided for in the New Mexico Small Loan Act of 1955, may be made on the manager or person in charge of the registered office or place of business of the licensee, and the director may by order suspend the license pending compliance with this section. History: Laws 1978, ch. 7, § 1; 1987, ch. 292, § 1. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 53A Am. Jur. 2d Money Lenders and Pawnbrokers § 14 et seq. 58 C.J.S. Money Lenders §§ 4, 8.
NM Stat § 58-15-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-7 - Place of business; change; residence of borrower.

A. Not more than one place of business shall be maintained under the same license, but the director may issue additional licenses to the same licensee upon compliance with all the provisions of the New Mexico Small Loan Act of 1955 governing issuance of a single license, provided that when more than one license is issued to any person, each licensed office of such person shall be operated under the same trade name. B. No change in the place of business of a licensee to a location outside of the municipality for which such license was issued shall be permitted under the same license. When a licensee wishes to change his place of business within the same municipality, he shall give written notice thereof to the director who shall investigate the facts and, if he shall find: (1) that allowing the licensee to engage in business in the proposed location is not detrimental to the convenience and advantage of the community; and (2) that the proposed location is reasonably accessible to borrowers under existing loan contracts, he shall enter an order permitting the change and shall amend the license accordingly. If the director shall not so find he shall enter an order denying the licensee such permission in the manner specified in and subject to the provisions of Section 58-15-5 NMSA 1978. C. Nothing in this act shall be construed to limit the loans of any licensee to residents of the community in which the licensed place of business is located; nor to prohibit accommodations to individual borrowers in sickness or in connection with hours of employment or other such situations; nor to prohibit making loans by mail to residents of New Mexico. History: 1953 Comp., § 48-17-36, enacted by Laws 1955, ch. 128, § 7; 1977, ch. 245, § 64. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 53A Am. Jur. 2d Money Lenders and Pawnbrokers §§ 6, 7, 14 et seq. 58 C.J.S. Money Lenders § 5.
NM Stat § 58-15-10 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-10 - Books and records; annual reports; additional information.

A. Each licensee shall keep and use in the business such books, accounts and records in accordance with sound accounting practices that will enable the director to determine whether the licensee is complying with the provisions of the New Mexico Small Loan Act of 1955 and with the orders and regulations lawfully made by the director pursuant to the provisions of that act. Each licensee shall preserve the books, accounts and records for at least two years after making the final entry on a loan recorded therein. B. Each licensee shall, annually on or before March 31, file a report with the director giving such relevant information as the director may reasonably require concerning the business and operations during the preceding calendar year for each licensed place of business conducted by the licensee within the state pursuant to the provisions of the New Mexico Small Loan Act of 1955. The report shall be made under oath and shall be in the form prescribed by the director. A summary of the reports shall be included in the published annual report of the director. C. At the time of filing each annual report, at the time of the annual examination or at any other time when a license is in effect, the director may, upon written notice, require a licensee to furnish within twenty days in writing, and under oath if so specified by any written notice issued and served by the director upon the licensee, additional information as to ownership of any office; operation of any office; books, records, files and papers; and affiliation or relationship with any other person, firm, trust, association or corporation as, in the opinion of the director, may be helpful in the discharge of the director's official duties. D. False or misleading information willfully furnished to the director by a licensee in an annual report or pursuant to a notice or requirement of the director is sufficient grounds for suspension and revocation of license in accordance with the procedures for suspension or revocation of license set forth in the New Mexico Small Loan Act of 1955. History: 1953 Comp., § 48-17-39, enacted by Laws 1955, ch. 128, § 10; 1977, ch. 245, § 67; 1993, ch. 210, § 6; 2007, ch. 86, § 6. ANNOTATIONSSeverability clause. — Laws 2007, ch. 86, § 23 provides that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected. The 2007 amendment, effective November 1, 2007, makes minor grammar revisions to the section. The 1993 amendment, effective June 18, 1993, substituted "March 31" for "the first day of February" in Subsection B and made stylistic changes throughout the section. Am. Jur. 2d, A.L.R. and C.J.S. references. — 53A Am. Jur. 2d Money Lenders and Pawnbrokers §§ 6, 7, 23. 58 C.J.S. Money Lenders §§ 3, 4.
NM Stat § 58-15-10.2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-10.2 - Reporting of credit required.

For each installment loan and refund anticipation loan made pursuant to the New Mexico Small Loan Act of 1955, a lender shall report to a consumer reporting agency the terms of the loan and the borrower's performance pursuant to those terms. History: Laws 2017, ch. 110, § 21. ANNOTATIONSEffective dates. — Laws 2017, ch. 110, § 27 made Laws 2017, ch. 110, § 21 effective January 1, 2018. Applicability. — Laws 2017, ch. 110, § 26 provided that the provisions of Laws 2017, ch. 110 shall apply to loans subject to the New Mexico Small Loan Act of 1955 and the New Mexico Bank Installment Loan Act of 1959 executed on or after January 1, 2018.
NM Stat § 58-15-12 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-12 - Advertising.

A licensee or other person subject to the New Mexico Small Loan Act of 1955 shall not advertise, display, distribute or broadcast or cause or permit to be advertised, displayed, distributed or broadcast in any manner whatsoever a false, misleading or deceptive statement or representation with regard to the charges, terms or conditions for loans in the amount or of the value of five thousand dollars ($5,000) or less. The director may require that charges or rates of charge, if stated by a licensee, be stated fully and clearly in such manner as the director deems necessary to prevent misunderstanding by prospective borrowers. The director may permit or require licensees to refer in their advertising to the fact that their business is under state supervision, subject to conditions imposed by the director to prevent erroneous impressions as to the scope or degree of protection provided by the New Mexico Small Loan Act of 1955. History: 1953 Comp., § 48-17-41, enacted by Laws 1955, ch. 128, § 12; 1973, ch. 18, § 3; 1977, ch. 245, § 69; 2007, ch. 86, § 8; 2017, ch. 110, § 16. ANNOTATIONSThe 2017 amendment, effective January 1, 2018, raised the loan amount in the provision prohibiting licensees from providing false, misleading or deceptive statements or representations with regard to charges, terms or conditions for loans; and after "or of the value of", deleted "two thousand five hundred dollars ($2,500)" and added "five thousand dollars ($5,000). Applicability. — Laws 2017, ch. 110, § 26 provided that the provisions of Laws 2017, ch. 110 shall apply to loans subject to the New Mexico Small Loan Act of 1955 and the New Mexico Bank Installment Loan Act of 1959 executed on or after January 1, 2018. The 2007 amendment, effective November 1, 2007, eliminated the former Subsection B requirement that a licensee display a schedule of rates of charges upon all classes of loans. Severability clause. — Laws 2007, ch. 86, § 23 provided that if any part or application of the act is held invalid, the remainder or its application to other situations or persons shall not be affected. Am. Jur. 2d, A.L.R. and C.J.S. references. — 58 C.J.S. Money Lenders § 5.
NM Stat § 58-15-13 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-13 - Licensed offices; other business.

A. No licensee shall conduct the business of making loans provided for by the New Mexico Small Loan Act of 1955 under any name, or at any place of business within this state, other than that stated in the license. B. No licensee shall conduct the business of making loans under the New Mexico Small Loan Act of 1955 within any building, office, suite, room or place of business in which any other business is solicited, or engaged in, by the licensee or any employee, agent or associate, or in association or conjunction with any other business, unless authority to do so is specifically given in writing by the director upon written application for such authority submitted by the licensee. Upon receipt of written application for such authority which shall be accompanied by or have included therein, if the other business is the sale of insurance in connection with loans made under the New Mexico Small Loan Act of 1955, the written consent of the licensee to abide by and be bound by all regulations then in effect or thereafter promulgated by the director relating to tie-in sales of such insurance and small loans, the director shall investigate the facts and circumstances and if he finds that the character of the licensee and the nature of the other business warrants the belief that the conduct of such business would not tend to conceal violation or evasion of the New Mexico Small Loan Act of 1955, or of regulations lawfully made hereunder, including regulations relating to tie-in sales of insurance, he shall enter an order granting such authority. If he shall not so find he shall enter an order denying such authority in the manner specified in and subject to the provisions of Section 58-15-5 NMSA 1978. History: 1953 Comp., § 48-17-42, enacted by Laws 1955, ch. 128, § 13; 1977, ch. 245, § 70. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 53A Am. Jur. 2d Money Lenders and Pawnbrokers § 11 et seq. 58 C.J.S. Money Lenders § 5.
NM Stat § 58-15-14 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-14 - Repealed.

ANNOTATIONSRepeals. — Laws 1981, ch. 263, § 4, repealed 58-15-14 NMSA 1978, relating to the rates of charges on loans, effective July 1, 1983. For present provisions, see 58-15-14.1 NMSA 1978. Compiler's notes. — Laws 1981, ch. 263, § 6, revived 58-15-14 NMSA 1978, effective July 1, 1983. Laws 1983, ch. 44, § 1, repealed Laws 1981, ch. 263, § 6, effective June 30, 1983.
NM Stat § 58-15-14.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-14.1 - Charges; method of computation.

The simple interest method shall be used for loans made under the New Mexico Small Loan Act of 1955. Interest charges shall not be paid, deducted or received in advance. Interest charges shall not be compounded. However, if part or all of the consideration for a loan contract is the unpaid principal balance of a prior loan, then the principal amount payable under the loan contract may include any unpaid charges that have accrued within sixty days on the prior loan. Such charges shall be computed on the basis of the number of days actually elapsed. History: Laws 1983, ch. 95, § 2; 2007, ch. 86, § 9. ANNOTATIONSSeverability clause. — Laws 2007, ch. 86, § 23 provides that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected. The 2007 amendment, effective November 1, 2007, requires the simple interest method for loans and eliminates the requirement that for purposes of computing charges, a month shall consist of thirty consecutive days and the rate of charge for each day shall be one-thirtieth of the monthly rate. Allowable charges for loans. — Apart from interest charges on loans, only those fees described in Section 58-15-20 NMSA 1978 may be charged for loans made under the Small Loan Act. Neither charges nor interest can be received in advance or compounded. 1985 Op. Att'y Gen. No. 85-01. Opinions rendered under former law. 1962 Op. Att'y Gen. No. 62-44; 1962 Op. Att'y Gen. No. 62-48; 1967 Op. Att'y Gen. No. 67-11; 1973 Op. Att'y Gen. No. 73-74. Am. Jur. 2d, A.L.R. and C.J.S. references. — 53A Am. Jur. 2d Money Lenders and Pawnbrokers §§ 6, 7, 14 et seq., 38, 46 et seq. Maximum amount: construction and application of provisions of small loan acts as regards maximum amount of loan, 99 A.L.R. 923. Time: construction and application of provision of small loan statute limiting time period for loan contracts, 58 A.L.R.2d 1263. Compound interest: what is "compound interest" within meaning of statutes prohibiting the charging of such interest, 10 A.L.R.3d 421. Disclosure: construction and effect of disclosure statutes requiring one extending credit or making loan to give statement showing terms as to amounts involved and charges made, 14 A.L.R.3d 330, 46 A.L.R. Fed. 657. 58 C.J.S. Money Lenders §§ 2, 3, 5, 6, 8.
NM Stat § 58-15-15 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-15 - Repealed.

History: 1953 Comp., § 48-17-43.1, enacted by Laws 1959, ch. 201, § 1; 1977, ch. 245, § 72; 1980, ch. 73, § 2; 2007, ch. 86, § 22.ANNOTATIONSRepeals. — Laws 2007, ch. 86, § 22 repeals 58-15-15 NMSA 1978, being Laws 1959, ch. 201, § 1, as amended, relating to the precomputation of charges, effective November 1, 2007. For provisions of former section, see the 2006 NMSA 1978 on NMOneSource.com.
NM Stat § 58-15-15.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-15.1 - No prepayment penalty on small loans.

No provision in a loan or the evidence of indebtedness of a loan made under the New Mexico Small Loan Act of 1955 requiring a penalty or premium for prepayment of the balance of the indebtedness is enforceable. History: 1978 Comp., § 58-15-15.1, enacted by Laws 1980, ch. 73, § 3. ANNOTATIONSCompiler's notes. — Laws 1980, ch. 73, § 5, repealed the act as of July 1, 1982, and provided that the law as it existed prior to the 1980 act would be revived on that date. However, Laws 1981, ch. 263, § 5, repealed Laws 1980, ch. 73, § 5, effective July 1, 1981.