2011 New Mexico Statutes
Chapter 56: Commercial Instruments and Transactions
Article 12: Pawnbrokers, 56-12-1 through 56-12-16
Section 56-12-6: Pawnbroker; bond required.
56-12-6. Pawnbroker; bond required.
No person shall engage in business as a pawnbroker without having executed and delivered a bond to his local government in the sum of five thousand dollars ($5,000). The bond shall be in a form approved by the local government and shall be conditioned upon the conduct of the pawnbroker's business according to the provisions of the Pawnbrokers Act [56-12-1 to 56-12-16 NMSA 1978]. The bond shall be for the benefit of each and every person damaged by a breach of any condition set forth in the bond. Every pawnbroker shall provide the local government with thirty days' notice in writing of the cancellation of the bond.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
