reglab/housing_qa huggingface dataset:
NM Stat § 58-32-204 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 2 - MONEY TRANSMISSION LICENSES|Section 58-32-204 - Issuance of license.

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 other state or country, the reasonable cost of which the applicant shall pay. The director shall issue a license to an applicant pursuant to Article 2 of the Uniform Money Services Act if the director finds that all of the following conditions have been fulfilled: (1) the applicant has complied with Sections 202, 203 and 206 [58-32-202, 58-32-203, 58-32-206 NMSA 1978] of the Uniform Money Services Act; and (2) the financial condition and responsibility, financial and business experience, competence, character and general fitness of the applicant and the competence, experience, character and general fitness of the executive officers, managers, directors and persons in control of the applicant indicate that it is in the interest of the public to permit the applicant to engage in money transmission. B. When an application for an original license pursuant to Article 2 of the Uniform Money Services Act is complete, the director shall promptly notify the applicant in a record of the date on which the application was determined to be complete and: (1) the director shall approve or deny the application within one hundred twenty days after that date; or (2) if the application is not approved or denied within one hundred twenty days after that date: (a) the application is deemed approved; and (b) the license takes effect as of the first business day after expiration of the one-hundred-twenty-day period. C. The director may for good cause extend the application period. D. An applicant whose application is denied by the director pursuant to Article 2 of the Uniform Money Services Act may appeal the denial, within thirty days after receipt of the notice of the denial, and request a hearing. History: Laws 2016, ch. 88, § 204. ANNOTATIONSEffective dates. — Laws 2016, ch. 88, § 1007 makes Laws 2016, ch. 88 effective January 1, 2017.
NM Stat § 58-32-206 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 2 - MONEY TRANSMISSION LICENSES|Section 58-32-206 - Net worth.

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 ($100,000); and B. for five or more locations of the licensee and authorized delegates in New Mexico or for an internet-based money services business, five hundred thousand dollars ($500,000). History: Laws 2016, ch. 88, § 206. ANNOTATIONSEffective dates. — Laws 2016, ch. 88, § 1007 makes Laws 2016, ch. 88 effective January 1, 2017.
NM Stat § 58-32-301 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 3 - CHECK CASHING LICENSES|Section 58-32-301 - License required.

A. A person shall not engage in check cashing or advertise, solicit or hold itself out as providing check cashing for which the person receives at least two thousand five hundred dollars ($2,500) within a thirty-day period unless the person: (1) is licensed pursuant to Article 3 of the Uniform Money Services Act; (2) is licensed for money transmission pursuant to Article 2 of the Uniform Money Services Act; (3) is licensed for currency exchange pursuant to Article 4 of the Uniform Money Services Act; or (4) is an authorized delegate of a person licensed pursuant to Article 2 of the Uniform Money Services Act. B. A license pursuant to Article 3 of the Uniform Money Services Act is not transferable or assignable. History: Laws 2016, ch. 88, § 301; 2017, ch. 104, § 1. ANNOTATIONSThe 2017 amendment, effective July 1, 2017, increased the threshold amount of revenue earned from check cashing services that requires a person to be licensed pursuant to the Uniform Money Services Act; and in Subsection A, deleted "five hundred dollars ($500)" and added "two thousand five hundred dollars ($2,500)". Temporary provisions. — Laws 2016, ch. 88, § 1005 provided that the director of the financial institutions division of the regulation and licensing department shall promulgate such rules as are necessary to transition licensees pursuant to 58-20-1 NMSA 1978 to the licensing provisions of the Uniform Money Services Act.
NM Stat § 58-32-302 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 3 - CHECK CASHING LICENSES|Section 58-32-302 - Application for license.

A. A person applying for a license pursuant to Article 3 of the Uniform Money Services Act shall apply in a record signed under penalty of perjury that shall be in a form and in a medium required by the director. Each form shall contain content as set forth by rule, instruction or procedure of the director. The form shall include the following information:(1) the legal name and residential and business addresses of the applicant if the applicant is an individual or, if the applicant is not an individual, the name of each partner, executive officer, manager and director;(2) the location of the principal office of the applicant;(3) complete addresses of other locations in New Mexico where the applicant proposes to engage in check cashing or currency exchange, including all limited stations and mobile locations;(4) a description of the source of money and credit to be used by the applicant to engage in check cashing and currency exchange; and(5) other information the director reasonably requires with respect to the applicant, but not more than the director may require pursuant to Article 2 of the Uniform Money Services Act.B. In connection with an application for licensing pursuant to Article 3 of the Uniform Money Services Act, the applicant shall, at a minimum, furnish to the nationwide multistate licensing system and registry the following information in a form and medium prescribed by the nationwide multistate licensing system and registry:(1) the applicant's history and experience; and(2) an authorization for the nationwide multistate licensing system and registry and the director to obtain:(a) an independent credit report; and(b) information related to any administrative, civil or criminal findings by any governmental jurisdiction.C. A nonrefundable application fee of two thousand dollars ($2,000) and a nonrefundable license fee of two thousand dollars ($2,000) shall accompany an application for a license pursuant to Article 3 of the Uniform Money Services Act. History: Laws 2016, ch. 88, § 302; 2019, ch. 144, § 19. ANNOTATIONSThe 2019 amendment, effective July 1, 2019, replaced "nationwide mortgage licensing system and registry" with "nationwide multistate licensing system and registry"; and after each occurrence of "nationwide", deleted "mortgage" and added "multistate".
NM Stat § 58-32-303 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 3 - CHECK CASHING LICENSES|Section 58-32-303 - Issuance of license.

A. When an application is filed pursuant to Article 3 [58-32-301 to 58-32-304 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 other state or country, the reasonable cost of which the applicant shall pay. The director shall issue a license to an applicant pursuant to Article 3 of the Uniform Money Services Act if the director finds that all of the following conditions have been fulfilled: (1) the applicant has complied with Section 302 [58-32-302 NMSA 1978] of the Uniform Money Services Act; and (2) the financial condition and responsibility, financial and business experience, competence, character and general fitness of the applicant and the competence, experience, character and general fitness of the executive officers, managers, directors and persons in control of the applicant indicate that it is in the interest of the public to permit the applicant to engage in check cashing. B. When an application for an original license pursuant to Article 3 of the Uniform Money Services Act is complete, the director shall promptly notify the applicant in a record of the date on which the application was determined to be complete and: (1) the director shall approve or deny the application within one hundred twenty days after that date; or (2) if the application is not approved or denied within one hundred twenty days after that date: (a) the application is deemed approved; and (b) the director shall issue the license, pursuant to Article 3 of the Uniform Money Services Act, to take effect as of the first business day after expiration of the one-hundred-twenty-day period. C. The director may for good cause extend the application period. D. An applicant whose application is denied by the director pursuant to Article 3 of the Uniform Money Services Act may appeal the denial, within thirty days after receipt of the notice of the denial, and request a hearing. History: Laws 2016, ch. 88, § 303. ANNOTATIONSEffective dates. — Laws 2016, ch. 88, § 1007 makes Laws 2016, ch. 88 effective January 1, 2017.
NM Stat § 58-32-304 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 3 - CHECK CASHING LICENSES|Section 58-32-304 - Renewal of license.

A. A license issued pursuant to Article 3 [58-32-301 to 58-32-304 NMSA 1978] of the Uniform Money Services Act shall expire on December 31 each year. A licensee pursuant to Article 3 of the Uniform Money Services Act shall pay an annual renewal fee of one thousand dollars ($1,000) before November 1 of each year or, if November 1 is not a business day, on the next business day. B. A licensee pursuant to Article 3 of the Uniform Money Services Act shall submit a renewal report with the renewal fee in a record signed under penalty of perjury that shall be in a form and in a medium prescribed by the director. The renewal report shall state or contain: (1) a description of each material change in information submitted by the licensee in its original license application that has not been reported to the director on any required report; and (2) a list of the locations in New Mexico where the licensee or an authorized delegate of the licensee engages in check cashing or currency exchange, including limited stations and mobile locations. C. If a licensee does not file a renewal report or pay its renewal fee by the renewal date or any extension of time granted by the director, the director shall send the licensee a notice of suspension. Unless the licensee files the report and pays the renewal fee before expiration of ten days after the notice is sent, the licensee's license is suspended ten days after the director sends the notice of suspension. The suspension shall be lifted if, within twenty days after its license is suspended, the licensee: (1) files the report and pays the renewal fee; and (2) pays one hundred dollars ($100) for each day after suspension that the director did not receive the renewal report and the renewal fee. D. The director for good cause may grant an extension of the renewal date. History: Laws 2016, ch. 88, § 304. ANNOTATIONSEffective dates. — Laws 2016, ch. 88, § 1007 makes Laws 2016, ch. 88 effective January 1, 2017.
NM Stat § 58-32-401 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 4 - CURRENCY EXCHANGE LICENSES|Section 58-32-401 - License required.

A. A person shall not engage in currency exchange or advertise, solicit or hold itself out as providing currency exchange for which the person receives revenues equal or greater than five percent of total revenues unless the person: (1) is licensed pursuant to Article 4 [58-32-401 to 58-32-404 NMSA 1978] of the Uniform Money Services Act; (2) is licensed for money transmission pursuant to Article 2 [58-32-201 through 58-32-206 NMSA 1978] of the Uniform Money Services Act; (3) is licensed for check cashing pursuant to Article 3 [58-32-301 to 58-32-304 NMSA 1978] of the Uniform Money Services Act; or (4) is an authorized delegate of a person licensed pursuant to Article 2 of the Uniform Money Services Act. B. A license pursuant to Article 4 of the Uniform Money Services Act is not transferable or assignable. History: Laws 2016, ch. 88, § 401. ANNOTATIONSEffective dates. — Laws 2016, ch. 88, § 1007 makes Laws 2016, ch. 88 effective January 1, 2017. Temporary provisions. — Laws 2016, ch. 88, § 1005 provided that the director of the financial institutions division of the regulation and licensing department shall promulgate such rules as are necessary to transition licensees pursuant to 58-20-1 NMSA 1978 to the licensing provisions of the Uniform Money Services Act.
NM Stat § 58-32-402 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 4 - CURRENCY EXCHANGE LICENSES|Section 58-32-402 - Application for license.

A. A person applying for a license pursuant to Article 4 of the Uniform Money Services Act shall apply in a record signed under penalty of perjury that shall be in a form and in a medium required by the director. Each form shall contain content as set forth by rule, instruction or procedure of the director. The form shall include the following information:(1) the legal name and residential and business addresses of the applicant if the applicant is an individual or, if the applicant is not an individual, the name of each partner, executive officer, manager and director;(2) the location of the principal office of the applicant;(3) complete addresses of other locations in New Mexico where the applicant proposes to engage in currency exchange or check cashing, including all limited stations and mobile locations;(4) a description of the source of money and credit to be used by the applicant to engage in check cashing and currency exchange; and(5) other information the director reasonably requires with respect to the applicant, but not more than the director may require pursuant to Article 2 of the Uniform Money Services Act.B. In connection with an application for licensing pursuant to Article 4 of the Uniform Money Services Act, the applicant shall, at a minimum, furnish to the nationwide multistate licensing system and registry the following information in a form and medium prescribed by the nationwide multistate licensing system and registry:(1) the applicant's history and experience; and(2) an authorization for the nationwide multistate licensing system and registry and the director to obtain:(a) an independent credit report; and(b) information related to any administrative, civil or criminal findings by any governmental jurisdiction.C. A nonrefundable application fee of two thousand dollars ($2,000) and a nonrefundable license fee of two thousand dollars ($2,000) shall accompany an application for a license pursuant to Article 4 of the Uniform Money Services Act.History: Laws 2016, ch. 88, § 402; 2019, ch. 144, § 20. ANNOTATIONSThe 2019 amendment, effective July 1, 2019, replaced "nationwide mortgage licensing system and registry" with "nationwide multistate licensing system and registry"; and after each occurrence of "nationwide", deleted "mortgage" and added "multistate".
NM Stat § 58-32-403 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 4 - CURRENCY EXCHANGE LICENSES|Section 58-32-403 - Issuance of license.

A. When an application is filed pursuant to Article 4 [58-32-401 to 58-32-404 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 other state or country, the reasonable cost of which the applicant shall pay. The director shall issue a license to an applicant pursuant to Article 4 of the Uniform Money Services Act if the director finds that all of the following conditions have been fulfilled: (1) the applicant has complied with Section 402 [58-32-402 NMSA 1978] of the Uniform Money Services Act; and (2) the financial condition and responsibility, financial and business experience, competence, character and general fitness of the applicant and the competence, experience, character and general fitness of the executive officers, managers, directors and persons in control of the applicant indicate that it is in the interest of the public to permit the applicant to engage in currency exchange. B. When an application for an original license pursuant to Article 4 of the Uniform Money Services Act is complete, the director shall promptly notify the applicant in a record of the date on which the application was determined to be complete and: (1) the director shall approve or deny the application within one hundred twenty days after that date; or (2) if the application is not approved or denied within one hundred twenty days after that date: (a) the application is deemed approved; and (b) the director shall issue the license, pursuant to Article 4 of the Uniform Money Services Act, to take effect as of the first business day after expiration of the one-hundred-twenty-day period. C. The director may for good cause extend the application period. D. An applicant whose application is denied a license by the director pursuant to Article 4 of the Uniform Money Services Act may appeal the denial, within thirty days after receipt of the notice of the denial, and request a hearing. History: Laws 2016, ch. 88, § 403. ANNOTATIONSEffective dates. — Laws 2016, ch. 88, § 1007 makes Laws 2016, ch. 88 effective January 1, 2017.
NM Stat § 58-32-404 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 4 - CURRENCY EXCHANGE LICENSES|Section 58-32-404 - Renewal of license.

A. A license issued pursuant to Article 4 [58-32-401 to 58-32-404 NMSA 1978] of the Uniform Money Services Act shall expire on December 31 each year. A licensee pursuant to Article 4 of the Uniform Money Services Act shall pay an annual renewal fee of one thousand dollars ($1,000) before November 1 of each year or, if November 1 is not a business day, on the next business day. B. A licensee pursuant to Article 4 of the Uniform Money Services Act shall submit a renewal report with the renewal fee in a record signed under penalty of perjury that shall be in a form and in a medium prescribed by the director. The renewal report shall state or contain: (1) a description of each material change in information submitted by the licensee in its original license application that has not been reported to the director on any required report; and (2) a list of the locations in New Mexico where the licensee or an authorized delegate of the licensee engages in currency exchange or check cashing, including limited stations and mobile locations. C. If a licensee does not file a renewal report and pay its renewal fee by the renewal date or any extension of time granted by the director, the director shall send the licensee a notice of suspension. Unless the licensee files the report and pays the renewal fee before expiration of ten days after the notice is sent, the licensee's license is suspended ten days after the director sends the notice of suspension. The suspension shall be lifted if, within twenty days after its license is suspended, the licensee: (1) files the report and pays the renewal fee; and (2) pays one hundred dollars ($100) for each day after suspension that the director did not receive the renewal report and the renewal fee. D. The director for good cause may grant an extension of the renewal date. History: Laws 2016, ch. 88, § 404. ANNOTATIONSEffective dates. — Laws 2016, ch. 88, § 1007 makes Laws 2016, ch. 88 effective January 1, 2017.
NM Stat § 58-32-501 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 5 - AUTHORIZED DELEGATES|Section 58-32-501 - Relationship between licensee and authorized delegate.

A. As used in this section, "remit" means: (1) to make direct payments of money to a licensee or its representative authorized to receive money; or (2) to deposit money in a bank in an account specified by the licensee. B. A contract between a licensee and an authorized delegate shall require the authorized delegate to operate in full compliance with the Uniform Money Services Act. The licensee shall furnish in a record to each authorized delegate policies and procedures sufficient for compliance with the Uniform Money Services Act. C. For each authorized delegate, the licensee shall maintain records that demonstrate the licensee conducted a reasonable background investigation of each authorized delegate. A licensee shall preserve those records for at least five years after the authorized delegate's most recent designation by the licensee. D. An authorized delegate shall remit all money owing to the licensee in accordance with the terms of the contract between the licensee and the authorized delegate. E. If a license is suspended or revoked or a licensee does not renew its license, the director shall notify all authorized delegates of the licensee whose names are in a record filed with the director of the suspension, revocation or nonrenewal. After notice is sent or publication is made, an authorized delegate shall immediately cease to provide money services as a delegate of the licensee. F. An authorized delegate shall not provide money services outside the scope of activity permissible pursuant to the contract between the authorized delegate and the licensee, except activity in which the authorized delegate is authorized to engage pursuant to Article 2 [58-32-201 to 58-32-206 NMSA 1978], 3 [58-32-301 to 58-32-304 NMSA 1978] or 4 [58-32-401 to 58-32-404 NMSA 1978] of the Uniform Money Services Act. An authorized delegate of a licensee holds in trust for the benefit of the licensee all money net of fees received from money transmission. G. An authorized delegate shall not use a subdelegate to conduct money services on behalf of a licensee. H. Whenever a licensee first advises the director of the identity of a proposed delegate, the licensee shall pay a nonrefundable fee of twenty-five dollars ($25.00) for each proposed delegate. History: Laws 2016, ch. 88, § 501. ANNOTATIONSEffective dates. — Laws 2016, ch. 88, § 1007 makes Laws 2016, ch. 88 effective January 1, 2017.
NM Stat § 58-32-502 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 32 - Uniform Money Services|Article 5 - AUTHORIZED DELEGATES|Section 58-32-502 - Unauthorized activity.

A person shall only act as a delegate for a licensee. A person that provides money services on behalf of a person not licensed pursuant to the Uniform Money Services Act is considered to act in its own capacity and may be subject to civil and criminal penalties for providing money services without a license. History: Laws 2016, ch. 88, § 502. ANNOTATIONSEffective dates. — Laws 2016, ch. 88, § 1007 makes Laws 2016, ch. 88 effective January 1, 2017.