The state has exclusive jurisdiction and authority regarding the terms and conditions of permitted installment loans and refund anticipation loans, and counties, municipalities and other political subdivisions of the state are preempted from any regulation of terms and conditions of permitted installment loans and refund anticipation loans by ordinance, resolution or otherwise.
§ 58-15-41 NMSA 1978
Preemption
Known as the New Mexico Small Loan Act
The act spans §§ 58–58 (47 sections).
Laws 2017, ch. 110, § 24.
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.