2006 New Mexico Statutes - Section 58-15-10 — Books and records; annual reports; additional information.

58-15-10. Books and records; annual reports; additional information.

A.     Each licensee shall keep and use in his business such books, accounts and records in accordance with sound accounting practices as in the director's opinion will enable him to determine whether the licensee is complying with the provisions of the New Mexico Small Loan Act of 1955 [this article] and with the orders and regulations lawfully made by the director under that act.  Each licensee shall preserve the books, accounts and records for at least two years after making the final entry on any loan recorded therein.   

B.     Each licensee shall annually on or before March 31 file a report with the director giving such relevant information as he may reasonably require concerning the business and operations during the preceding calendar year for each licensed place of business conducted by the licensee within the state pursuant to the provisions of the New Mexico Small Loan Act of 1955.  The report shall be made under oath and shall be in the form prescribed by the director.  A summary of the reports shall be included in the published annual report of the director.   

C.     At the time of filing each annual report, at the time of the annual examination or at any other time when any license is in effect, the director may, upon written notice, require any licensee to furnish within twenty days in writing, and under oath if so specified by any written notice issued and served by the director upon the licensee, any and all additional information as to ownership of any office; operation of any office; books, records, files and papers; and affiliation or relationship with any other person, firm, trust, association or corporation as, in the opinion of the director, may be helpful to him in the discharge of his official duties.   

False or misleading information willfully furnished to the director by any licensee in any annual report or pursuant to any notice or requirement of the director is sufficient ground for suspension and revocation of license in accordance with the procedures for suspension or revocation of license set forth in the New Mexico Small Loan Act of 1955.   

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