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New Mexico · Through 2024-04-26

56-8-8: [Excessive commission for procuring loan; penalty.]

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Where this section sits in the code
  1. Chapter 56 - Commercial Instruments and Transactions
  2. ARTICLE 8 Money, Interest and Usury

That any person, association of persons or corporation violating the preceding section [56-8-7 NMSA 1978] shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be punished by a fine of not less than one hundred dollars [($100)] nor more than five hundred dollars [($500)], or by imprisonment for not less than thirty nor more than ninety days, or by both such fine and imprisonment; and shall also be liable in damages to the party injured in double the whole amount so charged for negotiating or securing any such loan.

Collected 2026-09-03T15:02:20Z. Source file · JSON

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