Any licensee hereunder may make loans in accordance with and not in violation of the general laws of this state governing money and usury to any borrower not having a loan with the lender under this act, provided no charge authorized to be made under the provisions hereof shall be made, collected or received by the lender in connection with any such loan; and provided further, that any such loan shall not be converted into a loan under this act after once made or after it is reduced to a sum less than the maximum herein provided for.
§ 58-15-19 NMSA 1978
Loans under other laws
Known as the New Mexico Small Loan Act
The act spans §§ 58–58 (47 sections).
1953 Comp., § 48-17-46, enacted by Laws 1955, ch. 128, § 17.
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.