reglab/housing_qa huggingface dataset:
NM Stat § 56-6-7 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 6 - Warehousing of Agricultural Products|Section 56-6-7 - [Revocation of license; procedure.]

The license gives the applicant authority to conduct the business of a warehouseman and is revocable only by the district court of the county in which the warehouse is located, upon the written petition of any person setting forth the particular violation of Sections 56-6-1 through 56-6-11 New Mexico Statutes Annotated, 1978 Compilation or of Sections 50-8-50 through 50-8-55 New Mexico Statutes Annotated, 1953 Compilation, or both, and upon proper procedure and proof, as in other civil cases. History: Laws 1941, ch. 145, § 7; 1941 Comp., § 53-907; 1953 Comp., § 50-9-7; Laws 1961, ch. 96, § 11-113. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Compiler's notes. — Sections 50-8-50 through 50-8-55 New Mexico Statutes Annotated, 1953 Compilation, referenced in this section, were repealed by Laws 1961, ch. 96, § 10-102. Cross references. — For special penalty provisions pertaining to warehouse receipts, see 55-7-301 NMSA 1978 et seq. Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Warehouses § 11. 93 C.J.S. Warehousemen and Safe Depositaries § 5.
NM Stat § 56-6-8 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 6 - Warehousing of Agricultural Products|Section 56-6-8 - [Negotiable receipts to bear endorsement regarding insurance.]

The negotiable receipts issued by any warehouseman under Sections 56-6-1 through 56-6-11 New Mexico Statutes Annotated, 1978 Compilation, among other requirements provided for in the Uniform Commercial Code, Article 7 [55-7-101 to 55-7-807 NMSA 1978] shall plainly state on the face that the agricultural products for which the receipt is issued are kept fully insured by the warehouseman against loss by fire at the current market value. History: Laws 1941, ch. 145, § 8; 1941 Comp., § 53-908; 1953 Comp., § 50-9-8; Laws 1961, ch. 96, § 11-114. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Warehouses §§ 40 to 50. Rights of purchaser of warehouse receipt against warehouseman, 38 A.L.R. 1205. "Warehouse purchase receipt" as bailment or contract of sale, 91 A.L.R. 907. 93 C.J.S. Warehousemen and Safe Depositaries § 3.
NM Stat § 56-6-9 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 6 - Warehousing of Agricultural Products|Section 56-6-9 - [Issuance of receipts without complying with act; penalty.]

Any warehouseman, or any officer, agent or servant of a warehouseman, who issues or aids in issuing a receipt for such agricultural products without complying with the provisions of this act [56-6-1 to 56-6-11 NMSA 1978] shall be guilty of a felony, and upon conviction shall be punished for each offense by imprisonment not exceeding three years or by a fine not exceeding five thousand dollars [($5,000)], or both. History: Laws 1941, ch. 145, § 9; 1941 Comp., § 53-909; 1953 Comp., § 50-9-9. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Warehouses §§ 42, 60, 288, 305. 93 C.J.S. Warehousemen and Safe Depositaries §§ 18, 86.
NM Stat § 56-6-10 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 6 - Warehousing of Agricultural Products|Section 56-6-10 - [Exemption of farmer's marketing associations.]

The provisions of this act [56-6-1 to 56-6-11 NMSA 1978] shall not apply to any farmer's marketing association whose principal business is that of storing and marketing perishable agricultural products. History: Laws 1941, ch. 145, § 10; 1941 Comp., § 53-910; 1953 Comp., § 50-9-10. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Warehouses § 9. 93 C.J.S. Warehousemen and Safe Depositaries § 5.
NM Stat § 56-6-11 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 6 - Warehousing of Agricultural Products|Section 56-6-11 - [Exemption of warehouseman operating under federal act, or under $5,000 bond; exception.]

No provision of this act [56-6-1 to 56-6-11 NMSA 1978] shall apply to any warehouseman operating under the provisions of the United States Warehouse Act nor to any warehouseman within the state of New Mexico who is under like bond in the amount of $5,000.00 or more to any agency of the United States or the state of New Mexico providing that if the warehouseman shall cease to operate under the bond referred to in this section, he shall be governed by the provisions of this act. History: Laws 1941, ch. 145, § 11; 1941 Comp., § 53-911; 1953 Comp., § 50-9-11. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Cross references. — For the United States Warehouse Act, see 7 U.S.C. § 241 et seq. Am. Jur. 2d, A.L.R. and C.J.S. references. — 78 Am. Jur. 2d Warehouses §§ 11, 12. 93 C.J.S. Warehousemen and Safe Depositaries §§ 3, 15.
NM Stat § 56-7-3 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 7 - Indemnity Agreements|Section 56-7-3 - Commercial instruments and transaction.

A. A provision of a lease or rental contract for equipment that requires a party to the agreement to indemnify, hold harmless, insure or defend the other party to the agreement, including the other party's officers, employees or agents against liability, claims, damages, losses or expenses, including attorney fees, arising out of bodily injury to a person or damage to property caused by or resulting from, in whole or in part, the negligence, act or omission of the indemnitee, its officers, employees or agents, is void, unenforceable and against the public policy of this state. B. A lease or rental contract for equipment may contain a provision that requires one party to the contract to indemnify, hold harmless or insure the other party to the contract, including its officers, employees or agents, against liability, claims, damages, losses or expenses, including attorney fees, only to the extent that the liability, damages, losses or expenses are caused by, or arise out of, the acts or omissions of the indemnitor or its officers, employees or agents. C. A lease or rental contract for equipment that does not contain a provision covered by this section shall be presumed to conform to Subsections A and B of this section. D. As used in this section, "lease or rental contract for equipment" means any public, private, foreign or domestic contract or agreement relating to the temporary use of equipment without transfer of ownership of the equipment from one party to the other. E. As used in this section, "indemnify" or "hold harmless" includes any requirement to name the indemnified party as an additional insured in the indemnitor's insurance coverage for the purpose of providing indemnification for any liability not otherwise allowed in this section. The provisions of this subsection shall not restrict the right of any remedy available to a claimant or plaintiff. F. Nothing in this section shall apply to a lease or rental contract for a motor vehicle, as "motor vehicle" is defined in Section 66-1-4.11 NMSA 1978 and that is designed and used primarily to transport persons or property on a public highway. G. Nothing in this section shall apply to a security agreement as defined in Section 55-9-102 NMSA 1978 or to a finance lease as defined in Section 55-2A-103 NMSA 1978 or to a lease by a repossessing lessor for equipment repossessed upon default under such a finance lease. H. Nothing in this section shall apply to a lease or rental contract for equipment for use in the production of motion pictures or television. History: Laws 2007, ch. 252, § 2. ANNOTATIONSEffective dates. — Laws 2007, ch. 252 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
NM Stat § 56-8-1 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-1 - [Lawful money; definition; application.]

The money of account of this state shall be the dollar, cent and mill; and all public accounts, and the proceedings of all courts in relation to money shall be kept and expressed in money of the above denomination. History: Laws 1851-1852, p. 254; C.L. 1865, ch. 79, § 1; C.L. 1884, § 1732; C.L. 1897, § 2548; Code 1915, § 3523; C.S. 1929, § 89-101; 1941 Comp., § 53-601; 1953 Comp., § 50-6-1. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 45 Am. Jur. 2d Interest and Usury §§ 4 to 17. Retrospective application and effect of statutory provision for change of rate of interest, 4 A.L.R.2d 932, 40 A.L.R.4th 147, 41 A.L.R.4th 694. 91 C.J.S. Usury § 8.
NM Stat § 56-8-2 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-2 - [Denominations to be reduced to lawful basis in actions.]

The above section [56-8-1 NMSA 1978] shall not in any manner affect any demand in money of another denomination, but such demand in any suit or proceeding affecting the same shall be reduced to the above denomination. History: Laws 1851-1852, p. 254; C.L. 1865, ch. 79, § 2; C.L. 1884, § 1733; C.L. 1897, § 2549; Code 1915, § 3524; C.S. 1929, § 89-102; 1941 Comp., § 53-602; 1953 Comp., § 50-6-2. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Cross reference. — For the meaning of the words "above denomination" as referring to the dollar, cent and mill, see 56-8-1 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 58 C.J.S. Mines § 141.
NM Stat § 56-8-6 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-6 - Grain purchase contracts; disclosure regarding act of God clause.

If a written contract for the purchase of grain does not include an act of God clause that relieves the seller of the grain from any obligation to fulfill the contract due to acts of God or other unavoidable accidents which prevent the performance of the contract, the purchaser of the grain shall clearly and conspicuously disclose the absence of that act of God clause on the front page of the written contract. The notice required by this section shall be separately and clearly stated in at least ten-point bold-face type. History: Laws 1991, ch. 246, § 1. ANNOTATIONSRepeals and reenactments. — Laws 1991, ch. 246, § 2 repealed 56-8-6 NMSA 1978, as enacted by Laws 1865-1866, ch. 14, § 1, effective April 4, 1991. Laws 1991, ch. 246, § 1 enacted a new 56-8-6 NMSA 1978.
NM Stat § 56-8-7 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-7 - Procuring loans; rate of commission; exceptions.

For negotiating or securing any loan, no person, association of persons or corporation shall charge, collect or receive in excess of the following amounts: A. upon any loan not exceeding five hundred dollars ($500), four percent; B. upon any loan exceeding five hundred dollars ($500) and not exceeding two thousand dollars ($2,000), four percent upon the first five hundred dollars ($500) and three percent upon the remainder; and C. upon any loan exceeding two thousand dollars ($2,000), four percent upon the first one thousand dollars ($1,000) and two percent upon the remainder; provided that this section shall not apply to any loan in excess of fifty thousand dollars ($50,000) when such loan is made for business, commercial or agricultural purposes, nor to any loan negotiated or secured by a registrant under the Mortgage Loan Company and Loan Broker Act [Mortgage Loan Company Act] [Chapter 58, Article 21 NMSA 1978]. In such instances, broker's fees shall be negotiable, but shall not exceed six percent of the principal amount of the loan. History: Laws 1912, ch. 31, § 1; Code 1915, § 1806; C.S. 1929, § 35-4616; 1941 Comp., § 53-613; 1953 Comp., § 50-6-13; Laws 1977, ch. 293, § 3; 1984, ch. 15, § 4. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. A note given for interest and not commissions is not unlawful. Tompkins v. Rain, 1921-NMSC-015, 26 N.M. 631, 195 P. 800. Commission rates limited. — This section places a maximum limit on the rate of commission for negotiating or securing a loan for more than two thousand dollars ($2,000) at 4% on the first $1,000 and 2% on the remainder. Forrest Currell Lumber Co. v. Thomas, 1970-NMSC-018, 81 N.M. 161, 464 P.2d 891. Inapplicable absent broker-principal relation. — This section limits the charge which may be made by a broker against his principal for services rendered by the broker in procuring a loan of money for the principal. The section has no application where there is no broker-principal relation. Home Sav. & Loan Ass'n v. Bates, 1966-NMSC-167, 76 N.M. 660, 417 P.2d 798. Violation of section as cause of action by corporation. — A corporation can rely on a violation of this section as a basis for a cause of action for damages pursuant to 56-8-8 NMSA 1978. Diane, Inc. v. Kapnison, 1983-NMSC-056, 100 N.M. 143, 667 P.2d 450. Am. Jur. 2d, A.L.R. and C.J.S. references. — 45 Am. Jur. 2d Interest and Usury § 235. Expenses or charges in form of commissions to agents, brokers, or like intermediaries incident to loan of money, 52 A.L.R.2d 703. 91 C.J.S. Usury §§ 6, 114.
NM Stat § 56-8-8 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-8 - [Excessive commission for procuring loan; penalty.]

That any person, association of persons or corporation violating the preceding section [56-8-7 NMSA 1978] shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be punished by a fine of not less than one hundred dollars [($100)] nor more than five hundred dollars [($500)], or by imprisonment for not less than thirty nor more than ninety days, or by both such fine and imprisonment; and shall also be liable in damages to the party injured in double the whole amount so charged for negotiating or securing any such loan. History: Laws 1912, ch. 31, § 2; Code 1915, § 1807; C.S. 1929, § 35-4617; 1941 Comp., § 53-614; 1953 Comp., § 50-6-14. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Corporation may bring action. — A corporation can rely on a violation of 56-8-7 NMSA 1978, which limits commission rates on procuring loans, as a basis for a cause of action for damages pursuant to this section. Diane, Inc. v. Kapnison, 1983-NMSC-056, 100 N.M. 143, 667 P.2d 450. Penalties for charging excess commission. — This section makes a violation of 56-8-7 NMSA 1978 a misdemeanor and, in addition to a fine and imprisonment, makes the person or corporation liable in damages in double the whole amount charged for negotiating or securing the loan. Forrest Currell Lumber Co. v. Thomas, 1970-NMSC-018, 81 N.M. 161, 464 P.2d 891. Attorney's duty to advise client of potential penalty. — An attorney who advised his client that a loan brokerage fee which the client charged a corporation was not excessive, had a duty to advise his client on the potential exposure to penalty, should his interpretation be deemed incorrect. First Nat'l Bank v. Diane, Inc., 1985-NMCA-025, 102 N.M. 548, 698 P.2d 5. Law reviews. — For note, "Legal Malpractice - Liability for Failure to Warn: First National Bank of Clovis v. Diane, Inc.," see 16 N.M.L. Rev. 395 (1986). Am. Jur. 2d, A.L.R. and C.J.S. references. — 45 Am. Jur. 2d Interest and Usury §§ 218 to 222. Usury as affected by mistake in amount or calculation of interest or service charges for loan, 11 A.L.R.3d 1498. Enforceability of provision in loan commitment agreement authorizing lender to charge standby fee, commitment fee or similar deposit, 93 A.L.R.3d 1156. 91 C.J.S. Usury §§ 6, 114, 116.
NM Stat § 56-8-10 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-10 - Farm, ranch and agriculture loans.

The provisions of Subsections C, D and E of Section 56-8-9 NMSA 1978 are not applicable to loans secured by a first mortgage on farm, ranch or agricultural real estate where the purpose of the loan is primarily for farming, ranching or agricultural purposes. History: 1953 Comp., § 50-6-15.1, enacted by Laws 1977, ch. 293, § 5. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — Validity and construction of provision (escalator clause) in land contract or mortgage that rate of interest payable shall increase if legal rate is raised, 60 A.L.R.3d 473.
NM Stat § 56-8-11 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-11 - Repealed.

ANNOTATIONSRepeals. — Laws 1981, ch. 263, § 4, repealed 56-8-11 NMSA 1978, as enacted by Laws 1967, ch. 41, § 2, relating to the rates of interest allowed, effective July 1, 1981. Compiler's notes. — Laws 1981, ch. 263, § 6, revived 56-8-11 NMSA 1978, effective July 1, 1983. However, Laws 1983, ch. 44, § 1, repealed Laws 1981, ch. 263, § 6, effective June 30, 1983.
NM Stat § 56-8-11.1 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-11.1 - Repealed.

History: Laws 1981, ch. 263, § 1; repealed by Laws 1991, ch. 120, § 10. ANNOTATIONSRepeals. — Laws 1991, ch. 120, § 10 repealed 56-8-11.1 NMSA 1978, as enacted by Laws 1981, ch. 263, § 1, relating to maximum rate of interest, effective June 14, 1991. For provisions of former section, see the 1990 NMSA 1978 on NMOneSource.com.
NM Stat § 56-8-11.2 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-11.2 - Repealed.

History: Laws 1981, ch. 263, § 2; 1990, ch. 69, § 1; repealed by Laws 1991, ch. 120, § 10. ANNOTATIONSRepeals. — Laws 1991, ch. 120, § 10 repealed 56-8-11.2 NMSA 1978, as enacted by Laws 1981, ch. 263, § 2, relating to disclosure, effective June 14, 1991. For provisions of former section, see the 1990 NMSA 1978 on NMOneSource.com.
NM Stat § 56-8-11.3 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-11.3 - Repealed.

History: Laws 1981, ch. 263, § 3; repealed by Laws 1991, ch. 120, § 10. ANNOTATIONSRepeals. — Laws 1991, ch. 120, § 10 repealed 56-8-11.3 NMSA 1978, as enacted by Laws 1981, ch. 263, § 3, relating to penalties, effective June 14, 1991. For provisions of former section, see the 1990 NMSA 1978 on NMOneSource.com.
NM Stat § 56-8-11.4 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-11.4 - Repealed.

ANNOTATIONSRepeals. — Laws 1983, ch. 44, § 1, repealed 56-8-11.4 NMSA 1978, which, on July 1, 1983, repealed 56-8-11.1 to 56-8-11.3 NMSA 1978, effective June 30, 1983. Former 56-8-11.4 NMSA 1978 also, on July 1, 1983, revived 56-1-2.1, 56-1-3.1, 56-8-11, 56-8-25 to 56-8-28, 58-7-4, 58-11-17, 58-13-47, 58-15-14, 58-19-8 and 59-8-7.1 NMSA 1978, which were previously repealed by Laws 1981, ch. 263, § 4.
NM Stat § 56-8-12 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-12 - Loans by agent; liability of principal.

The acts and dealings of an agent in loaning money shall bind the principal, and in all cases where there is illegal interest contracted for by the transaction of any agent, the principal shall be held thereby to the same effect as though he had acted in person, and when the same person acts as agent for the borrower and lender, he shall be deemed the agent of the lender for the purpose of this act [56-8-9, 56-8-12 to 56-8-14 NMSA 1978]. History: 1953 Comp., § 50-6-17, enacted by Laws 1957, ch. 209, § 3. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 45 Am. Jur. 2d Interest and Usury §§ 223 to 234, 326, 357. Guardian's liability for interest on ward's funds, 72 A.L.R.2d 757. 91 C.J.S. Usury §§ 43 to 45, 64, 166.
NM Stat § 56-8-14 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-14 - Criminal penalty.

Any person, corporation or association who shall violate the provisions of this act [56-8-9, 56-8-12 to 56-8-14 NMSA 1978] shall be guilty of a misdemeanor, and upon conviction thereof before the district court or a justice of the peace shall be fined the sum of not less than twenty-five ($25.00) dollars, nor more than one hundred ($100.00) dollars. History: 1953 Comp., § 50-6-19, enacted by Laws 1957, ch. 209, § 5. ANNOTATIONSSaving clauses. — Laws 1957, ch. 209, § 6 provided that none of the provisions of the New Mexico Small Loan Act of 1955, Laws 1955, ch. 128, is amended or repealed by this act. Am. Jur. 2d, A.L.R. and C.J.S. references. — 45 Am. Jur. 2d Interest and Usury §§ 307, 357 to 360. Construction and application of Consumer Credit Protection Act provisions (18 USCS §§ 891-894) prohibiting extortionate credit transactions, 106 A.L.R. Fed. 33. 91 C.J.S. Usury § 160.
NM Stat § 56-8-15 to 56-8-20 (2021)
2021 New Mexico Statutes|Chapter 56 - Commercial Instruments and Transactions|Article 8 - Money, Interest and Usury|Section 56-8-15 to 56-8-20 - Repealed.

ANNOTATIONSRepeals. — Laws 1985, ch. 228, § 17 repealed 56-8-15 to 56-8-20 NMSA 1978, as enacted by Laws 1965, ch. 253, §§ 1 to 6 and as amended by Laws 1971, ch. 82, §§ 1 and 2, relating to pledging personalty as security for loans and penalties for violation of provisions, effective June 14, 1985. For present comparable provisions, see Chapter 56, Article 12 NMSA 1978.