A person who knowingly advances money or property, whether as a gift, loan or investment, to any person with reasonable grounds to believe that it is the intention of that person to use the money or property so advanced, directly or indirectly, for the purpose of making extortionate extensions of credit is guilty of a third degree felony.
§ 30-43-4 NMSA 1978
Financing extortionate extensions of credit
Known as the Loan Sharking Act
The act spans §§ 30–30 (5 sections).
Laws 1980, ch. 39, § 4.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.