New Mexico § 58-21-29 Power of court to grant relief

New Mexico Statutes

§ 58-21-29 — Power of court to grant relief

New Mexico § 58-21-29

Ch. 58Financial Institutions and Regulations

Art. 21Mortgage Loan Companies

This text of New Mexico § 58-21-29 (Power of court to grant relief) 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. § 58-21-29 (2026).

Text

A. Upon a showing by the director that a person has or is about to violate the Mortgage Loan Company Act or any rule or order of the director under that act, the district court of the first judicial district for Santa Fe county or other appropriate district court in the state may grant or impose one or more of the following appropriate legal or equitable remedies:

(1)a temporary restraining order, permanent or temporary prohibitory or mandatory injunction or a writ of prohibition or mandamus;

(2)a civil penalty up to a maximum of twenty-five thousand dollars ($25,000) for each violation;

(3)disgorgement;

(4)declaratory judgment;

(5)restitution to consumers;

(6)the appointment of a receiver or conservator for the defendant or the defendant's assets;

(7)recovery by the director of all

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A. Upon a showing by the director that a person has or is about to violate the Mortgage Loan Company Act or any rule or order of the director under that act, the district court of the first judicial district for Santa Fe county or other appropriate district court in the state may grant or impose one or more of the following appropriate legal or equitable remedies: (1) a temporary restraining order, permanent or temporary prohibitory or mandatory injunction or a writ of prohibition or mandamus; (2) a civil penalty up to a maximum of twenty-five thousand dollars ($25,000) for each violation; (3) disgorgement; (4) declaratory judgment; (5) restitution to consumers; (6) the appointment of a receiver or conservator for the defendant or the defendant's assets; (7) recovery by the director of all costs and expenses for conducting an investigation or the bringing of any enforcement action under that act; or (8) other relief as the court deems just. B. In determining the appropriate relief to grant, the court shall consider enforcement actions taken and sanctions imposed by the director under Section 58-21- 28 NMSA 1978 in connection with the transactions constituting violations of the Mortgage Loan Company Act. C. The court shall not require the director to post bond in an action under this section.