New Mexico § 58-22-21.1 Suit to recover trust funds; attorney's fees authorized

New Mexico Statutes

§ 58-22-21.1 — Suit to recover trust funds; attorney's fees authorized

New Mexico § 58-22-21.1

Ch. 58Financial Institutions and Regulations

Art. 22Escrow Companies

This text of New Mexico § 58-22-21.1 (Suit to recover trust funds; attorney's fees authorized) 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. § 58-22-21.1 (2026).

Text

An escrow agent, in any action brought against a party to the escrow to recover trust funds disbursed by the escrow agent to or for the benefit of the party, or in reliance upon a check or draft issued by the party which is subsequently dishonored by the drawee, may recover, in addition to the amount so disbursed, a reasonable amount as attorney's fees and costs. Pending litigation, an escrow agent may retain possession of all escrowed documents until directed otherwise by a court of competent jurisdiction.

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An escrow agent, in any action brought against a party to the escrow to recover trust funds disbursed by the escrow agent to or for the benefit of the party, or in reliance upon a check or draft issued by the party which is subsequently dishonored by the drawee, may recover, in addition to the amount so disbursed, a reasonable amount as attorney's fees and costs. Pending litigation, an escrow agent may retain possession of all escrowed documents until directed otherwise by a court of competent jurisdiction.