GroundRules
58-15-15.1: No prepayment penalty on small loans.
Where this section sits in the code
- Chapter 58 - Financial Institutions and Regulations
- ARTICLE 15 Small Loan Business
No provision in a loan or the evidence of indebtedness of a loan made under the New Mexico Small Loan Act of 1955 requiring a penalty or premium for prepayment of the balance of the indebtedness is enforceable.
Collected 2026-09-03T15:02:20Z. Source file · JSON