New Mexico § 57-26-3 Exempted transactions; relationship to other laws

New Mexico Statutes

§ 57-26-3 — Exempted transactions; relationship to other laws

New Mexico § 57-26-3

Ch. 57Trade Practices and Regulations

Art. 26Rental-Purchase Agreements

This text of New Mexico § 57-26-3 (Exempted transactions; relationship to other laws) 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. § 57-26-3 (2026).

Text

A. The Rental-Purchase Agreement Act does not apply to the following:

(1)rental-purchase agreements made primarily for business, commercial or agricultural purposes;

(2)a lease of a safe deposit box;

(3)a lease or bailment of personal property that is incidental to the lease of real property and provides that the consumer has no option to purchase the leased property;

(4)a lease of a "motor vehicle", as defined in Subsection C of Section 56-1-1 NMSA 1978; or (5) a lease of a "mobile home", as defined in Subsection D of Section 56-1-1 NMSA 1978. B. Rental-purchase agreements are not governed by the provisions of:

(1)the Uniform Commercial Code [Chapter 55 NMSA 1978];

(2)Chapter 56, Articles 1 and 8 NMSA 1978; or (3) Chapter 58, Article 15 NMSA 1978.

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A. The Rental-Purchase Agreement Act does not apply to the following: (1) rental-purchase agreements made primarily for business, commercial or agricultural purposes; (2) a lease of a safe deposit box; (3) a lease or bailment of personal property that is incidental to the lease of real property and provides that the consumer has no option to purchase the leased property; (4) a lease of a "motor vehicle", as defined in Subsection C of Section 56-1-1 NMSA 1978; or (5) a lease of a "mobile home", as defined in Subsection D of Section 56-1-1 NMSA 1978. B. Rental-purchase agreements are not governed by the provisions of: (1) the Uniform Commercial Code [Chapter 55 NMSA 1978]; (2) Chapter 56, Articles 1 and 8 NMSA 1978; or (3) Chapter 58, Article 15 NMSA 1978.