New Mexico § 58-15-20.1 Installment loans; refund anticipation loans; insufficient

New Mexico Statutes

§ 58-15-20.1 — Installment loans; refund anticipation loans; insufficient

New Mexico § 58-15-20.1

Ch. 58Financial Institutions and Regulations

Art. 15Small Loan Business

This text of New Mexico § 58-15-20.1 (Installment loans; refund anticipation loans; insufficient) 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. § 58-15-20.1 (2026).

Text

funds; permitted charges.

A.If there are insufficient funds to pay a check or other type of debit on the date of presentment by the licensee, a check or debit authorization request shall not be presented to a financial institution by a licensee for payment more than one time per payment due unless the consumer agrees in writing, after a check or other type of debit has been dishonored, to one additional presentment or deposit.

B.A licensee shall not charge a consumer for fees, interest or charges of any kind other than those permitted pursuant to Sections 58-15-16, 58-15-17 and 58-15-20 NMSA 1978.

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funds; permitted charges. A. If there are insufficient funds to pay a check or other type of debit on the date of presentment by the licensee, a check or debit authorization request shall not be presented to a financial institution by a licensee for payment more than one time per payment due unless the consumer agrees in writing, after a check or other type of debit has been dishonored, to one additional presentment or deposit. B. A licensee shall not charge a consumer for fees, interest or charges of any kind other than those permitted pursuant to Sections 58-15-16, 58-15-17 and 58-15-20 NMSA 1978.