2006 New Mexico Statutes - Section 61-18A-5 — Unlawful to conduct collection agency or engage in the business of a repossessor without license.
61-18A-5. Unlawful to conduct collection agency or engage in the business of a repossessor without license.
A. No person shall conduct within this state a collection agency, act as a collection agency manager or engage within the state in the business of collecting claims for others or of soliciting the right to collect or receive payment from another of any claim or advertise or solicit either in print, by letter, in person or otherwise, the right to collect or receive payment for another of any claim or seek to make collection or obtain payment of any claim on behalf of another without having first applied for and obtained the licenses required by the Collection Agency Regulatory Act [ 61-18A-1 NMSA 1978].
B. No person shall conduct within this state the business of a repossessor without having first applied for and obtained a repossessor's license.
C. No person shall be considered to be engaged in collection activity within this state if that person's activities regarding this state are limited to collecting debts not incurred in New Mexico from debtors located in this state by means of interstate communications, including telephone, mail or facsimile transmission, from the person's location in another state.
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