All collection agencies shall remit to their clients the proceeds of all collections, after deducting their commission, other lawful expenses and any amounts collected pursuant to Section 61-18A-28.1 NMSA 1978, within forty days of such collection unless otherwise provided by regulation.
§ 61-18A-28 NMSA 1978
Remittance of collections to clients
Known as the Collection Agency Regulatory Act
The act spans §§ 61–61 (34 sections).
Laws 1987, ch. 252, § 28; 1992, ch. 36, § 1.
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.