There Is a Newer Version of the New Mexico Statutes
  1. 2025 N.M. Stat.
  2. 2024 N.M. Stat.
  3. 2023 N.M. Stat.
  4. 2011 N.M. Stat. (here)
  5. View All Versions
View Our Newest Version Here

2011 New Mexico Statutes
Chapter 56: Commercial Instruments and Transactions
Article 8: Money, Interest and Usury, 56-8-1 through 56-8-30
Section 56-8-13: Penalties and forfeitures.

Universal Citation:
NM Stat § 56-8-13 (1996 through 1st Sess 50th Legis)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

56-8-13. Penalties and forfeitures.

The taking, receiving, reserving or charging of a rate of interest greater than allowed by this act [56-8-9, 56-8-12 to 56-8-14 NMSA 1978], when knowingly done, shall be deemed a forfeiture of the entire amount of such interest which the note, bill or other evidence of debt carries with it or which has been agreed to be paid thereon. In case the greater rate of interest has been paid, the person by whom it has been paid, or his legal representatives, may recover back by civil action twice the amount of the interest thus paid from the person, corporation or association taking or receiving the same; provided that such action is commenced within two (2) years from the time the usurious transaction occurred.

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.