New Mexico Statutes
§ 58-15-15.1 — No prepayment penalty on small loans
New Mexico § 58-15-15.1
This text of New Mexico § 58-15-15.1 (No prepayment penalty on small loans) 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. § 58-15-15.1 (2026).
Text
No provision in a loan or the evidence of indebtedness of a loan made under the New Mexico Small Loan Act of 1955 requiring a penalty or premium for prepayment of the balance of the indebtedness is enforceable.
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
1978 Comp., § 58-15-15.1, enacted by Laws 1980, ch. 73, § 3.
Nearby Sections
15
§ 58-1-1
Short title§ 58-1-11
Access by fiduciaries§ 58-1-13
Lease to minor§ 58-1-14
Search procedure on death§ 58-1-17
Qualification and fiduciary powers§ 58-1-18
Fiduciary bond or oath excused§ 58-1-2
Definitions of banks§ 58-1-2.1
Prohibition§ 58-1-20
Reserves against deposits§ 58-1-21
LoansCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 58-15-15.1, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/58/58-15-15.1.