2006 New Mexico Statutes - Section 58-15-2 — Definitions.

58-15-2. Definitions.

The following words and terms when used in the New Mexico Small Loan Act of 1955 [this article] shall have the following meanings unless the context clearly requires a different meaning. The meaning ascribed to the singular form shall apply also to the plural:   

A.     "person" shall include individuals, copartners, associations, trusts, corporations and any other legal entity;   

B.     "license" shall mean a permit issued under the authority of the New Mexico Small Loan Act of 1955, to make loans and collect charges therefor strictly in accordance with the provisions of the New Mexico Small Loan Act of 1955 at a single place of business. It shall constitute and be construed as a grant of a revokable privilege only to be held and enjoyed subject to all the conditions, restrictions and limitations contained in the New Mexico Small Loan Act of 1955 and lawful regulations promulgated by the director of the financial institutions division and not otherwise;   

C.     "licensee" shall mean a person to whom one or more licenses have been issued hereunder upon their written application electing to become a licensee and consenting to exercise the privilege of a licensee solely in conformity with the New Mexico Small Loan Act of 1955 and the lawful regulations promulgated by the director of the financial institutions division hereunder, and whose name or names appear on the face of the license;   

D.     "director" means the director of the financial institutions division of the commerce and industry department;   

E.     "department" means the financial institutions division of the commerce and industry department.   

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