New Mexico Statutes
§ 56-8-3 — Interest rate; no written contract
New Mexico § 56-8-3
This text of New Mexico § 56-8-3 (Interest rate; no written contract) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.M. Stat. Ann. § 56-8-3 (2026).
Text
The rate of interest, in the absence of a written contract fixing a different rate, shall be not more than fifteen percent annually in the following cases: A. on money due by contract; B. on money received to the use of another and retained without the owner's consent expressed or implied; and C. on money due upon the settlement of matured accounts from the day the balance is ascertained.
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Legislative History
1978 Comp., § 56-8-3, enacted by Laws 1983, ch. 254, § 1.
Nearby Sections
15
§ 56-1-1
Definitions§ 56-1-10
Injunction to prevent violation§ 56-1-11
Consent to discontinuance§ 56-1-12
Violation of injunction; penalty§ 56-1-13
Contracts executed prior to act§ 56-1-16
Variable rates§ 56-1-2.1
Repealed§ 56-1-3
Retail charge agreements§ 56-1-3.1
Repealed§ 56-1-4
Insurance§ 56-1-5
Prohibited provisions§ 56-1-6
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Bluebook (online)
New Mexico § 56-8-3, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/56-8-3.