{"data":{"id":"us-nm/56-12-14","jurisdiction":"us-nm","citation":"56-12-14","heading":"Prohibited practices.","body":"A pawnbroker shall not:\nA. knowingly enter into a pawn transaction with a person under the age of eighteen years or under the influence of alcohol, any narcotic, drug, stimulant or depressant;\nB. make any agreement requiring the personal liability of a pledgor in connection with the pawn transaction;\nC. accept any waiver, in writing or otherwise, of any right or protection accorded a pledgor under the Pawnbrokers Act;\nD. fail to exercise reasonable care to protect pledged goods from loss or damage;\nE. fail to return a pledged good to a pledgor upon payment of the full amount due to the pawnbroker on the pawn transaction. In the event a pledged good is lost or damaged while in the possession of the pawnbroker, the pawnbroker shall compensate the pledgor for the reasonable value of the lost or damaged good;\nF. make any charge for insurance in connection with a pawn transaction;\nG. purchase or otherwise receive any item of property from which the manufacturer's name plate, serial number or identification mark has been obviously defaced, altered, covered or destroyed;\nH. purchase or otherwise receive any item of property which the permitholder knows is not lawfully owned by the person offering the same;\nI. enter into a pawn transaction in which the unpaid principle [principal] balance exceeds two thousand dollars ($2,000); or\nJ. require that any of the proceeds of any cash loan be spent at the pawnbroker's place of business or in any other manner directed by the pawnbroker.","path":["Chapter 56 - Commercial Instruments and Transactions","ARTICLE 12 Pawnbrokers"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18559/index.do","current_through":"2024-04-26","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"f20b08cd81989b5b3b05fa84087de29209728732032851281df476885cc24e16","source_id":"us-nm","stale":false,"prev":"us-nm/56-12-13","next":"us-nm/56-12-15"},"notice":"GroundRules: Original legal text. Not legal advice."}