reglab/housing_qa huggingface dataset:
NM Stat § 58-15-38 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-38 - Repealed.

History: Laws 2007, ch. 86, § 20; repealed by Laws 2017, ch. 110, § 25.ANNOTATIONSRepeals. — Laws 2017, ch. 110, § 25 repealed 58-15-38 NMSA 1978, as enacted by Laws 2007, ch. 86, § 20, relating to required disclosures when making payday loans, required signage, effective January 1, 2018. For provisions of former section, see the 2017 NMSA on NMOneSource.com.
NM Stat § 58-15-40 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-40 - Financial literacy fund.

The "financial literacy fund" is created in the state treasury. The fund shall consist of appropriations, gifts, grants, donations and bequests made to the fund and fees received pursuant to Subsection L of Section 58-15-5 NMSA 1978. Income from the fund shall be credited to the fund, and money in the fund shall not revert or be transferred to any other fund at the end of a fiscal year. Money in the fund is appropriated to the regulation and licensing department for the purposes of developing and implementing financial literacy programs as provided for in Subsection C of Section 58-15-39 NMSA 1978. Expenditures from the fund shall be made on warrant of the secretary of finance and administration pursuant to vouchers signed by the superintendent of regulation and licensing. History: Laws 2017, ch. 110, § 22. ANNOTATIONSEffective dates. — Laws 2017, ch. 110, § 27 made Laws 2017, ch. 110, § 22 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 § 58-15-41 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-41 - Preemption.

The state has exclusive jurisdiction and authority regarding the terms and conditions of permitted installment loans and refund anticipation loans, and counties, municipalities and other political subdivisions of the state are preempted from any regulation of terms and conditions of permitted installment loans and refund anticipation loans by ordinance, resolution or otherwise. History: Laws 2017, ch. 110, § 24. ANNOTATIONSEffective dates. — Laws 2017, ch. 110, § 27 made Laws 2017, ch. 110, § 24 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 § 58-15-42 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 15 - Small Loan Business|Section 58-15-42 - Right of rescission.

All loan agreements shall include a provision granting the borrower the right to rescind the transaction by returning in cash, or through certified funds, one hundred percent of the amount advanced by the lender under the New Mexico Small Loan Act of 1955 no later than the close of business New Mexico time or, if the loan was made online, no later than midnight New Mexico time on the first day of business conducted by the lender following the date of execution of the loan agreement. If a borrower exercises the right of rescission pursuant to this section, no fee for the rescinded transaction shall be charged to the borrower, and the lender shall not charge or impose on the borrower a fee for exercising the right of rescission pursuant to this section. If a borrower exercises the right of rescission pursuant to this section, any fee collected by the lender shall be returned in full to the borrower. History: Laws 2019, ch. 201, § 16. ANNOTATIONSEffective dates. — Laws 2019, ch. 201, § 18 made Laws 2019, ch. 201 effective January 1, 2020.Applicability. — Laws 2019, ch. 201, § 17 provided that the provisions of this act apply to loans subject to the New Mexico Small Loan Act of 1955 and the New Mexico Bank Installment Loan Act of 1959 that are executed on or after January 1, 2020.
NM Stat § 58-16-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-1 - Short title.

Chapter 58, Article 16 NMSA 1978 may be cited as the "Remote Financial Service Unit Act". History: 1953 Comp., § 48-25-1, enacted by Laws 1977, ch. 359, § 1; 1978 Comp., § 58-16-1; repealed and reenacted by Laws 1990, ch. 123, § 1; 1996, ch. 2, § 28. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990. The 1996 amendment, effective June 1, 1996, substituted "Chapter 58, Article 16 NMSA 1978" for "This act".
NM Stat § 58-16-2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-2 - Purpose of act.

The purposes of the Remote Financial Service Unit Act are: A. to provide greater convenience for the consumer by authorizing financial institutions and merchants to offer certain financial services in convenient ways and locations; B. to enable the use of remote financial service units at business locations for purposes of authorizing debit and certain credit transactions and verifying or guaranteeing payment of negotiable instruments or nonnegotiable share drafts to reduce the loss exposure of businesses; C. to permit certain electronic transfers of funds to reduce the number of negotiable instruments processed and relieve the burden on the overall clearinghouse system; D. to permit financial institutions and merchants to share the use of remote financial service units through networks; and E. to maintain equal competitive opportunities for merchants and for financial institutions. History: 1953 Comp., § 45-25-2 enacted by Laws 1977, ch. 359, § 2; repealed and reenacted by Laws 1990, ch. 123, § 2. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990.
NM Stat § 58-16-4 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-4 - Restrictions on provision of financial services.

A. Nothing in the Remote Financial Service Unit Act shall be construed as authority for any person to provide financial services in a manner not otherwise permitted or restricted by applicable law nor as authority to enlarge upon the financial services that financial institutions are permitted by applicable law to perform. B. Except as provided in Subsection F of Section 58-16-5 NMSA 1978, no provision of the Remote Financial Service Unit Act shall be construed to limit or otherwise control any debits or credits or other electronic funds transfers through a network or other system within the proprietary control of one or more merchants. History: 1953 Comp., § 48-25-4, enacted by Laws 1977, ch. 359, § 4; 1989, ch. 218, § 2; repealed and reenacted by Laws 1990, ch. 123, § 4; 1991, ch. 120, § 8. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990. The 1991 amendment, effective June 14, 1991, designated the existing section as Subsection A and added Subsection B.
NM Stat § 58-16-5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-5 - Point-of-sale terminals.

A. Subject to the provisions of Subsection B of this section, a POS terminal may be used to perform internal business functions in addition to all functions defined as POS transactions. B. In conjunction with the performance of any POS transaction, the transfer or deposit of funds to the account of a merchant or to an account held for the merchant, is prohibited unless the account is maintained in an in-state financial institution having its main office or manned branch in New Mexico. C. A POS terminal shall not be operated to perform any POS transaction except pursuant to a written agreement between the merchant on whose premises the POS terminal is located and an in-state financial institution having its main office or manned branch office in New Mexico, unless otherwise permitted or restricted by applicable law. D. A merchant may designate specific POS terminals on its premises at which only a limited number of particular POS transactions shall be performed. E. The POS terminal shall be manned or operated by one or more individuals who are agents, servants or employees of the merchant upon whose premises the POS terminal is located, either alone, in cooperation with the cardholder or by the cardholder. Provided, however, that an employee of a financial institution may be stationed at or operate a POS terminal only for demonstration or training purposes or to verify its accuracy. F. A merchant contracting for any financial service functions through a POS terminal shall make that POS terminal available to any other requesting in-state financial institution, to the extent that the financial institutions are permitted by law to engage in POS transactions. Provided, however, that the mandatory sharing of the POS terminal will be upon the same terms and conditions of the written agreement between the merchant and the financial institution originally initiating the written agreement. Provided further, that any financial institution requesting to share a POS terminal shall pay reasonable compensation to the originating financial institution as they shall agree. G. At the end of each POS transaction, the POS terminal shall issue the cardholder who initiated the POS transaction a receipt. History: 1953 Comp., § 48-25-5, enacted by Laws 1977, ch. 359, § 5; 1985, ch. 231, § 2; repealed and reenacted by Laws 1990, ch. 123, § 5. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990.
NM Stat § 58-16-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-6 - Use of automated teller machines.

A. An ATM may only be used to initiate and complete one or more ATM transactions. B. Any lobby or teller-line ATM and any on-premises ATM, including the associated structures, shall be owned or leased by one in-state financial institution. C. An off-premises ATM, excluding the associated structure, shall be owned or leased and operated by one or more in-state financial institutions. The off-premises ATM shall be unmanned, having no person stationed at the terminal to assist the cardholder in the operation of the ATM except for demonstration or training purposes or to verify its accuracy. History: 1953 Comp., § 48-25-6 as enacted by Laws 1977, ch. 359, § 6; 1985, ch. 231, § 3; repealed and reenacted by Laws 1990, ch. 123, § 6. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990.
NM Stat § 58-16-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-7 - POS terminal not considered a financial institution branch office.

A POS terminal installed and operated pursuant to the Remote Financial Service Unit Act is not a branch office of a financial institution and shall not be construed to be a branch office of a financial institution under New Mexico law. If any court of competent jurisdiction construes a POS terminal to be installed or installed under the authority of the Remote Financial Service Unit Act to be a branch office of a financial institution, the supervisory authority approving branch offices of financial institutions shall approve any application for a POS terminal to be installed or installed under the authority of the Remote Financial Service Unit Act without regard to capital requirements for a financial institution branch office and without regard to the convenience and necessity for a financial institution branch office or any other factors normally considered in granting or denying a financial institution branch office application. History: 1953 Comp., § 48-25-7 as enacted by Laws 1977, ch. 359, § 7; repealed and reenacted by Laws 1990, ch. 123, § 7. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990.
NM Stat § 58-16-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-8 - Lobby or teller-line automated teller machines and on-premises automated teller machines not considered financial institutions.

No lobby or teller-line ATM or on-premises ATM shall be construed for any purpose to be a branch office of a financial institution under New Mexico law. History: 1953 Comp., § 48-25-8, enacted by Laws 1977, ch. 359, § 8; 1989, ch. 218, §3; repealed and reenacted by Laws 1990, ch. 123, § 8. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990.
NM Stat § 58-16-9 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-9 - Off-premises ATM considered a financial institution branch office.

A. An off-premises ATM is a branch office of a financial institution. Subject to the limitations contained in the Remote Financial Service Unit Act [this article], in-state financial institutions are authorized to install one or more off-premises ATMs. Before installing or operating an off-premises ATM, the in-state financial institution shall first obtain the approval of the director to install and operate the off-premises ATM, which written approval shall not be withheld by the director unless good cause is shown. The director, in making this determination, shall take into account, but not by way of limitation, factors such as the financial history and condition of the applicant, the adequacy of its capital structure, its future earnings prospects and the general character of its management, the future earnings prospects of the off-premises ATM and the adequacy of any network, intercept processor or processing computer, if any. The director's approval shall not be given until the director has ascertained to his satisfaction that: (1) the establishment of the off-premises ATM complies in all respects with all applicable requirements for a branch office of the particular financial institution making application, including but not limited to geographic restrictions, if any; (2) the proposed location is in the public interest; and (3) the establishment of the off-premises ATM will meet the needs and promote the convenience of the area to be served by the ATM. B. An investigation fee of four hundred dollars ($400) shall accompany each application for an off-premises ATM. History: 1953 Comp., § 48-25-9, enacted by Laws 1977, ch. 359, § 9; 1985, ch. 231, § 4; repealed and reenacted by Laws 1990, ch. 123, § 9; 1993, ch. 210, § 7. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990. The 1993 amendment, effective June 18, 1993, substituted "four hundred dollars ($400)" for "two hundred dollars ($200)" in Subsection B.
NM Stat § 58-16-10 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-10 - Notice to director.

Any financial institution desiring to utilize an off-premises ATM shall give the director written notice of its intention to do so in a form required by the director. The notice shall be delivered to the director not less than thirty days prior to the implementation of the off-premises ATM. The director may require any financial institution participating in the utilization of any off-premises ATM to file an annual report including such information as the director may deem necessary; provided, however, the director shall not require an in-state financial institution chartered under the laws of the United States to provide any greater information than it is required to provide its appropriate federal regulatory agency. History: 1953 Comp., § 48-25-11, enacted by Laws 1977, ch. 359, § 11; 1978 Comp., § 58-16-11, repealed, reenacted and recompiled as § 58-16-10 by Laws 1990, ch. 123, § 10. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990.
NM Stat § 58-16-10.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-10.1 - Repealed.

ANNOTATIONSRepeals. — Laws 1990, ch. 123, § 18 repealed 58-16-10.1 NMSA 1978, as enacted by Laws 1985, ch. 231, § 6, relating to accessibility and advertising, effective May 16, 1990. For provisions of former section, see the 1989 NMSA 1978 on NMOneSource.com.
NM Stat § 58-16-11 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-11 - Restrictions on owning, leasing and operating.

A. Notwithstanding any provision to the contrary in the Remote Financial Service Unit Act, no ATM shall be owned or leased by a person other than an in-state financial institution. B. Notwithstanding any provision to the contrary in the Remote Financial Service Unit Act, no POS terminal shall be operated by any person other than a merchant or an in-state financial institution. History: 1978 Comp., § 58-16-11, enacted by Laws 1990, ch. 123, § 11; 1991, ch. 120, § 9; 1995, ch. 190, § 17; 1996, ch. 2, § 30. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990. The 1996 amendment, effective June 1, 1996, rewrote the section heading, deleted "having its main office, a manned branch office or any other authorized branch in the county in which the ATM is located" from the end of Subsection A, and deleted Subsection C relating to owning and operating off-premises ATM machines. The 1995 amendment, effective June 16, 1995, added Subsection C. The 1991 amendment, effective June 14, 1991, in Subsection B, substituted "operated by any person other than a merchant or an in-state financial institution" for "owned or leased by any person other than" and former Paragraphs (1) and (2), pertaining to ownership by financial institutions and merchants.
NM Stat § 58-16-12 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 16 - Remote Financial Service Units|Section 58-16-12 - Networks.

A. Two or more financial institutions, separately or in combination with any other person, may establish one or more networks through which the financial institutions are interconnected for on-line data interchange. B. Membership or participation by any financial institution in one network or other proprietary or shared EFT system shall not preclude membership or participation by the financial institution in any other network or other proprietary or shared EFT system. C. A network may establish a shared on-line EFT system enabling financial institutions to participate in a data interchange connecting two or more financial institutions, acquirers, agent acquirers, card acceptors, intercept processors, issuers, ATMs and POS terminals. A network may enable any participant in said network to engage in any and all transactions. A network may establish, for its own account and as agent for its participants, clearing accounts as may be necessary to provide for the settlement of transactions. D. Membership or participation in a network by a financial institution, merchant and intercept processor shall be evidenced by a written agreement setting forth the duties and obligations of the participants and the network. The written agreement may establish such performance standards, marketing standards, fee structure and cost recovery mechanisms as shall be agreed upon by and between the network and its participants, unless otherwise restricted by applicable state or federal law. E. A network, through the network manager, may directly provide the services of a switch, or may contract with any other person for the services of the switch. F. No network or other proprietary or shared system shall be required to obtain approval of the director to operate in New Mexico. History: 1978 Comp., § 58-16-12, enacted by Laws 1990, ch. 123, § 12. ANNOTATIONSRepeals and reenactments. — Laws 1990, ch. 123, § 18 repeals the Remote Financial Service Unit Act, as enacted by Laws 1977, ch. 359, §§ 1 to 17 and enacted a new Remote Financial Service Unit Act, effective May 16, 1990.