The provisions of Subsections C, D and E of Section 56-8-9 NMSA 1978 are not applicable to loans secured by a first mortgage on farm, ranch or agricultural real estate where the purpose of the loan is primarily for farming, ranching or agricultural purposes.
§ 56-8-10 NMSA 1978
Farm, ranch and agriculture loans
Known as the Residential Home Loan Act
The act spans §§ 56–56 (26 sections).
1953 Comp., § 50-6-15.1, enacted by Laws 1977, ch. 293, § 5.
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.