reglab/housing_qa huggingface dataset:
NM Stat § 58-18A-10 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18A - Municipal Mortgage Finance|Section 58-18A-10 - Investment of funds.

The issuer, or any trustee or custodian on behalf of the issuer, may invest any funds held by it as provided in the ordinance authorizing the issuance of the bonds or a trust indenture executed pursuant thereto. History: Laws 1979, ch. 381, § 10.
NM Stat § 58-18A-11 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18A - Municipal Mortgage Finance|Section 58-18A-11 - Exemption from taxation.

The bonds authorized by the Municipal Mortgage Finance Act and the income from the bonds shall be exempt from all taxation by the state or any political subdivision thereof, subject to the provisions of the Banking and Financial Corporations Tax Act. History: Laws 1979, ch. 381, § 11. ANNOTATIONSCompiler's notes. — The Banking and Financial Corporations Tax Act, referred to in this section, was compiled as 7-6-1 NMSA 1978 et seq., and was repealed by Laws 1981, ch. 37, § 97. For present provisions, see the Corporate Income and Franchise Tax Act, 7-2A-1 NMSA 1978.
NM Stat § 58-18A-12 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18A - Municipal Mortgage Finance|Section 58-18A-12 - Liberal interpretation.

The provisions of the Municipal Mortgage Finance Act shall be liberally construed in order to effectively carry out the purposes of that act. History: Laws 1979, ch. 381, § 12. ANNOTATIONSSeverability clauses. — Laws 1979, ch. 381, § 13, provides for the severability of the act if any part or application thereof is held invalid.
NM Stat § 58-18B-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18B - Low-Income Housing Trust|Section 58-18B-1 - Short title.

This act [58-18B-1 to 58-18B-11 NMSA 1978] may be cited as the "Low-Income Housing Trust Act". History: Laws 1994, ch. 146, § 1.
NM Stat § 58-18B-2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18B - Low-Income Housing Trust|Section 58-18B-2 - Legislative findings.

The legislature finds that: A. current economic conditions, federal housing policies and declining resources at the federal, state and local levels affect adversely the ability of low-income persons to obtain safe, decent and affordable housing; B. it is in the public interest to establish a continuously renewable resource to be known as the New Mexico low-income housing trust program to assist low-income citizens in meeting their basic housing needs; and C. the program described in Subsection B of this section should, whenever feasible, be implemented through assistance in the form of loans or grants. History: Laws 1994, ch. 146, § 2.
NM Stat § 58-18B-4 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18B - Low-Income Housing Trust|Section 58-18B-4 - Repealed.

ANNOTATIONSRepeals. — Laws 1999, ch. 41, § 8 repeals 58-18B-4 NMSA 1978, as enacted by Laws 1994, ch. 146, § 9, relating to the creation of the low-income housing trust fund, effective July 1, 1999. For provisions of former section, see the 1998 NMSA 1978 on NMOneSource.com.
NM Stat § 58-18B-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18B - Low-Income Housing Trust|Section 58-18B-6 - Pooled interest-bearing escrow accounts authorized to be made available; computation of interest; reports.

A. Any depository institution regulated by the division that maintains trust or escrow accounts for customers may establish and make available pooled interest-bearing accounts. Interest on a pooled interest-bearing account shall be computed on the daily collected balance of the account or as otherwise computed in accordance with the institution's standard accounting practices. B. Any depository institution participating in the program and making a remittance of interest to the fund pursuant to the provisions of Section 58-18B-5 NMSA 1978 shall, at the time of remittance, transmit a report to the trustee showing: (1) the name of the account holder for whom the remittance is sent; (2) the rate of interest used to compute the earned interest; (3) the amount, if any, of appropriate financial institution service charges and fees deducted; and (4) the account balance as of the ending date of the reporting period. C. Remittances to the fund shall be made at least quarterly, no later than the tenth day of the month. D. A copy of the report required to be made pursuant to the provisions of Subsection B of this section shall be sent to the person in whose name the account is maintained. History: Laws 1994, ch. 146, § 11; 1999, ch. 41, § 3. ANNOTATIONSThe 1999 amendment, effective July 1, 1999, in the introductory language in Subsection B deleted "low-income housing trust" following "interest to the", updated statutory references, and substituted "trustee" for "trust"; and deleted "low-income housing trust" following "Remittances to the" in Subsection C.
NM Stat § 58-18B-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18B - Low-Income Housing Trust|Section 58-18B-7 - Use of money from fund.

Money from the fund and other sources shall be used in accordance with the provisions of the Land Title Trust Fund Act [58-28-1 to 58-28-8 NMSA 1978]. History: Laws 1994, ch. 146, § 12; 1999, ch. 41, § 4. ANNOTATIONSThe 1999 amendment, effective July 1, 1999, substituted "from fund" for "for loans and grant projects to provide housing; eligible activities" in the catchline, and rewrote the section, which formerly related to money from the fund and other sources which could be used to finance loans or grant projects to provide housing for low-income persons and listed activities eligible for assistance from the fund.
NM Stat § 58-18B-9 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18B - Low-Income Housing Trust|Section 58-18B-9 - Repealed.

ANNOTATIONSRepeals. — Laws 1999, ch. 41, § 8 repeals 58-18B-8 and 58-18B-9 NMSA 1978, as enacted by Laws 1994, ch. 146, §§ 13 and 14, relating to organizations eligible to receive assistance from the trust under the Low-Income Housing Trust Act and to money from the fund being used to provide preconstruction technical assistance to eligible recipients seeking to construct, rehabilitate or finance housing-related services for low-income persons, effective July 1, 1999. For provisions of former sections, see the 1998 NMSA 1978 on NMOneSource.com.
NM Stat § 58-18B-10 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18B - Low-Income Housing Trust|Section 58-18B-10 - Conflict with federal requirements.

If any part of the Low-Income Housing Trust Act is found to be in conflict with federal requirements that are a prescribed condition to the allocation of federal funds to the state, the conflicting part of that act is inoperative solely to the extent of the conflict and with respect to the agencies directly affected, and this finding does not affect the operation of the remainder of that act in its application to the agencies concerned. The rules adopted pursuant to the provisions of the Low-Income Housing Trust Act shall meet those federal requirements that are a necessary condition to the receipt of federal funds by the state. History: Laws 1994, ch. 146, § 15.
NM Stat § 58-18B-11 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18B - Low-Income Housing Trust|Section 58-18B-11 - Repealed.

ANNOTATIONSRepeals. — Laws 1999, ch. 41, § 8 repeals 58-18B-11 NMSA 1978, as enacted by Laws 1994, ch. 146, § 16, relating to money from the fund being used to match federal, local or private money for projects authorized under the Low-Income Housing Trust Act, effective July 1, 1999. For provisions of former section, see the 1998 NMSA 1978 on NMOneSource.com.
NM Stat § 58-18C-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18C - New Mexico Housing Trust Fund|Section 58-18C-1 - Short title.

Sections 1 through 9 of this act [58-18C-1 to 58-18C-9 NMSA 1978] may be cited as the "New Mexico Housing Trust Fund Act". History: Laws 2005, ch. 105, § 1. ANNOTATIONSEffective dates. — Laws 2005, ch. 105, § 11 makes the act effective July 1, 2005.
NM Stat § 58-18C-2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18C - New Mexico Housing Trust Fund|Section 58-18C-2 - Purpose.

The purpose of the New Mexico Housing Trust Fund Act is to provide flexible funding for housing initiatives in order to produce and preserve significant housing investment in the state. History: Laws 2005, ch. 105, § 2; 2021, ch. 24, § 1. ANNOTATIONSThe 2021 amendment, effective April 5, 2021, expanded the purpose of the New Mexico housing trust fund act to include the preservation of housing; after "to produce", added "and preserve", and after "significant", deleted "additional".
NM Stat § 58-18C-3 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18C - New Mexico Housing Trust Fund|Section 58-18C-3 - Definitions.

As used in the New Mexico Housing Trust Fund Act:A. "affordable housing" means residential housing primarily for persons or households of low or moderate income;B. "authority" means the New Mexico mortgage finance authority;C. "committee" means the New Mexico housing trust fund advisory committee;D. "fund" means the New Mexico housing trust fund;E. "persons of low or moderate income" means persons and households within the state who are determined by the authority to lack sufficient income to pay enough to cause private enterprise to build and preserve an adequate supply of decent, safe and sanitary residential housing in their locality or in an area reasonably accessible to their locality and whose incomes are below the income levels established by the authority to be in need of the assistance made available by the New Mexico Housing Trust Fund Act, taking into consideration, without limitation, such factors as defined under that act; andF. "residential housing" means any building, structure or portion thereof that is primarily occupied, or designed or intended primarily for occupancy, as a residence by one or more households and any real property that is offered for sale or lease for the construction or location thereon of such a building, structure or portion thereof. "Residential housing" includes congregate housing, manufactured homes and housing intended to provide or providing transitional or temporary housing for homeless persons.History: Laws 2005, ch. 105, § 3; 2021, ch. 24, § 2. ANNOTATIONSThe 2021 amendment, effective April 5, 2021, revised the definition of "persons of low or moderate income" to conform to the inclusion of preservation of housing in the expanded purpose of the New Mexico Housing Trust Fund Act; and in Subsection E, after "to build", added "and preserve".
NM Stat § 58-18C-4 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18C - New Mexico Housing Trust Fund|Section 58-18C-4 - New Mexico housing trust fund created.

A. The "New Mexico housing trust fund" is created in the authority. The fund shall consist of all distributions and appropriations made to the fund. Earnings of the fund shall be credited to the fund, and unexpended and unencumbered balances in the fund shall not revert to any other fund. The authority shall be the trustee for the fund, and the state investment council shall be the investment agent for the fund. B. The fund shall consist of revenue from the following recurring sources: (1) appropriations and transfers from the general fund; (2) any other money appropriated or distributed to the fund; or (3) any private contributions to the fund. C. Money in the fund is appropriated to the authority for the purposes of carrying out the provisions of the New Mexico Housing Trust Fund Act. History: Laws 2005, ch. 105, § 4. ANNOTATIONSEffective dates. — Laws 2005, ch. 105, § 11 makes the act effective July 1, 2005.
NM Stat § 58-18C-5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18C - New Mexico Housing Trust Fund|Section 58-18C-5 - Advisory committee created.

A. The "New Mexico housing trust fund advisory committee" is created. The committee shall consist of the following nine members, who shall represent geographically the state, affordable housing advocates and practitioners:(1) three public members appointed by the governor;(2) three public members appointed by the president pro tempore of the senate; and(3) three public members appointed by the speaker of the house of representatives.B. Members of the committee shall be appointed for two-year terms and shall be eligible for reappointment. Vacancies shall be filled by the appropriate appointing authority.C. The committee shall be advisory to the authority and shall be subject to oversight by the Mortgage Finance Authority Act oversight committee.D. The committee shall review all project applications or program guidelines and make recommendations to the authority for funding them. The committee shall not be involved in or advisory to the authority in matters relating to the investment of the fund.E. The committee shall adopt rules regarding:(1) the time, place and procedures of committee meetings; and(2) the procedures for the review of and standards for recommending applications or program guidelines for loans or grant projects. History: Laws 2005, ch. 105, § 5; 2021, ch. 24, § 3.ANNOTATIONSThe 2021 amendment, effective April 5, 2021, required the New Mexico housing trust fund advisory committee to review all program guidelines and adopt rules regarding program guidelines; in Subsection D, after "applications", added "or program guidelines"; and in Subsection E, Paragraph E(2), after "applications", added "or program guidelines".
NM Stat § 58-18C-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18C - New Mexico Housing Trust Fund|Section 58-18C-6 - Award of funds; accountability.

A. Trust funds shall be awarded either on a competitive basis or based on need as determined by the authority. The authority's staff shall work with the committee to develop an application and applicant scoring mechanism or program guidelines that encourage applicants to develop solutions that are responsive to local needs and are consistent with sound housing policy.B. The authority's governing body shall be responsible for ensuring that on an overall basis the total funds awarded for housing activities attract at least three times as much funding from other sources. History: Laws 2005, ch. 105, § 6; 2021, ch. 24, § 4. ANNOTATIONSThe 2021 amendment, effective April 5, 2021, authorized trust funds to be awarded based on need as determined by the New Mexico mortgage finance authority, permitted the New Mexico mortgage finance authority to work with the New Mexico housing trust fund advisory committee to develop program guidelines; in Subsection A, after "awarded", added "either", after "competitive basis", added "or based on need as determined by the authority, and after "scoring mechanism", added "or program guidelines"; and in Subsection B, after "ensuring that on an", deleted "annual" and added "overall".
NM Stat § 58-18C-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18C - New Mexico Housing Trust Fund|Section 58-18C-7 - Use of funds; eligible activities.

Money from the fund and matching funds from other sources may be used to finance in whole or in part any loans or grant projects that will provide affordable housing. Money from the fund may also be used to reimburse the authority for actual expenses incurred in administering the fund in an amount not to exceed five percent of total funds disbursed from the fund. History: Laws 2005, ch. 105, § 7. ANNOTATIONSEffective dates. — Laws 2005, ch. 105, § 11 makes the act effective July 1, 2005.
NM Stat § 58-18C-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18C - New Mexico Housing Trust Fund|Section 58-18C-8 - Conflict with federal requirements.

If any part of the New Mexico Housing Trust Fund Act is found to be in conflict with federal requirements that are a prescribed condition to the allocation of federal funds to the state, the conflicting part of that act is inoperative solely to the extent of the conflict and with respect to the agencies directly affected, and this finding does not affect the operation of the remainder of that act in its application to the agencies concerned. The rules adopted pursuant to the provisions of the New Mexico Housing Trust Fund Act shall meet those federal requirements that are a necessary condition to the receipt of federal funds by the state. History: Laws 2005, ch. 105, § 8. ANNOTATIONSEffective dates. — Laws 2005, ch. 105, § 11 makes the act effective July 1, 2005.
NM Stat § 58-18C-9 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18C - New Mexico Housing Trust Fund|Section 58-18C-9 - Matching funds.

Money from the fund may be used to match federal, local or private money to be used for projects authorized under the New Mexico Housing Trust Fund Act. History: Laws 2005, ch. 105, § 9. ANNOTATIONSEffective dates. — Laws 2005, ch. 105, § 11 makes the act effective July 1, 2005.
NM Stat § 58-19-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 19 - Motor Vehicle Sales Finance|Section 58-19-1 - Short title.

Chapter 58, Article 19 NMSA 1978 may be cited as the "Motor Vehicle Sales Finance Act". History: 1953 Comp., § 50-15-1, enacted by Laws 1959, ch. 204, § 1; 2001, ch. 123, § 1. ANNOTATIONSThe 2001 amendment, effective June 15, 2001, substituted "Chapter 58, Article 19 NMSA 1978" for "This act".
NM Stat § 58-19-5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 19 - Motor Vehicle Sales Finance|Section 58-19-5 - Investigations; complaints; examinations; fees.

A. The director has the power to make such investigations as he deems necessary and, to the extent necessary for this purpose, may examine any licensee or any other person and has the power to compel the production of all relevant books, records, accounts and documents. B. Any retail buyer having reason to believe that the Motor Vehicle Sales Finance Act relating to his retail installment contract has been violated may file with the director a written complaint setting forth the details of the alleged violation; and the director, upon receipt of the complaint, may inspect the pertinent books, records, letters and contracts of the licensee and of the retail seller involved. C. As a fee for conducting any examination or investigation pursuant to this section, a sales finance company shall pay to the director the costs of such examination or investigation, as determined by the director. History: 1953 Comp., § 50-15-5, enacted by Laws 1959, ch. 204, § 5; 1979, ch. 388, § 4; 1987, ch. 292, § 7. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 2 Am. Jur. 2d Administrative Law § 122 et seq. 73 C.J.S. Public Administrative Law and Procedure §§ 76 to 86.
NM Stat § 58-19-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 19 - Motor Vehicle Sales Finance|Section 58-19-6 - Powers of director.

The director shall have power to issue subpoenas to compel the attendance of witnesses and the production of documents, papers, books, records and other evidence before him in any matter over which he has jurisdiction, control or supervision pursuant to the provisions of the Motor Vehicle Sales Finance Act. The director shall have the power to administer oaths and affirmations to any person whose testimony is required. If any person shall refuse to obey such subpoena, to give testimony or to produce evidence as required thereby, any judge of any district court of this state may, upon application and proof of such refusal, make an order awarding process of subpoena, or subpoena duces tecum, for the witness to appear before the director to give testimony, and to produce evidence as required thereby. Upon filing such order in the office of the clerk of such court, the clerk shall issue process of subpoena, as directed, under the seal of the court, requiring the person to whom it is directed to appear at the time and place therein designated. If any person served with a subpoena shall refuse to obey the same, to give testimony or to produce evidence as required thereby, the director may apply to any judge of the court issuing such subpoena for an attachment against such person, as for a contempt. The judge, upon satisfactory proof of such refusal, shall issue an attachment, directed to any sheriff, constable or police officer for the arrest of such person, and upon his being brought before such judge, proceed to a hearing of the case. The judge shall have power to enforce obedience to such subpoena, the answering of any question and the production of any evidence, that may be proper by a fine, not exceeding three hundred dollars ($300), or by imprisonment in the county jail, or by both fine and imprisonment, and to tax such witness with the costs of such proceeding. History: 1953 Comp., § 50-15-6, enacted by Laws 1959, ch. 204, § 6; 1979, ch. 388, § 5. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 2 Am. Jur. 2d Administrative Law § 261 et seq. 73 C.J.S. Public Administrative Law and Procedure §§ 124, 132.
NM Stat § 58-19-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 19 - Motor Vehicle Sales Finance|Section 58-19-8 - Repealed.

ANNOTATIONSRepeals. — Laws 1981, ch. 263, § 4, repealed 58-19-8 NMSA 1978, relating to the finance charge limitation, effective July 1, 1981. Compiler's notes. — Laws 1981, ch. 263, § 6, revived 58-19-8 NMSA 1978, effective July 1, 1983. Laws 1983, ch. 44, § 1, repealed Laws 1981, ch. 263, § 6, effective June 30, 1983.
NM Stat § 58-19-9 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 19 - Motor Vehicle Sales Finance|Section 58-19-9 - Credit upon anticipation of payments.

Notwithstanding the provisions of any retail installment contract to the contrary, any buyer may pay in full, at any time before maturity, the debt of any retail installment contract and in so paying such debt shall receive a refund credit thereon for such anticipation of payments. The amount of such refund shall represent at least as great a proportion of the finance charge as the sum of the monthly time balances, beginning one month after prepayment is made, bears to the sum of all the monthly time balances under the schedule of payments in the contract (commonly referred to as the rule of 78S [78's]). If the charge as so computed is less than twenty-five dollars ($25.00), then a maximum charge of twenty-five dollars ($25.00) and no more may be retained. Where the amount of credit is less than one dollar ($1.00), no refund need be made. History: 1953 Comp., § 50-15-9, enacted by Laws 1959, ch. 204, § 9. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.