New Mexico § 58-32-301 License required

New Mexico Statutes

§ 58-32-301 — License required

New Mexico § 58-32-301

Ch. 58Financial Institutions and Regulations

Art. 3CHECK CASHING LICENSES

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Bluebook

N.M. Stat. Ann. § 58-32-301 (2026).

Text

A. A person shall not engage in check cashing or advertise, solicit or hold itself out as providing check cashing for which the person receives at least two thousand five hundred dollars ($2,500) within a thirty-day period unless the person:

(1)is licensed pursuant to Article 3 of the Uniform Money Services Act;

(2)is licensed for money transmission pursuant to Article 2 of the Uniform Money Services Act;

(3)is licensed for currency exchange pursuant to Article 4 of the Uniform Money Services Act; or (4) is an authorized delegate of a person licensed pursuant to Article 2 of the Uniform Money Services Act. B. A license pursuant to Article 3 of the Uniform Money Services Act is not transferable or assignable.

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A. A person shall not engage in check cashing or advertise, solicit or hold itself out as providing check cashing for which the person receives at least two thousand five hundred dollars ($2,500) within a thirty-day period unless the person: (1) is licensed pursuant to Article 3 of the Uniform Money Services Act; (2) is licensed for money transmission pursuant to Article 2 of the Uniform Money Services Act; (3) is licensed for currency exchange pursuant to Article 4 of the Uniform Money Services Act; or (4) is an authorized delegate of a person licensed pursuant to Article 2 of the Uniform Money Services Act. B. A license pursuant to Article 3 of the Uniform Money Services Act is not transferable or assignable.