2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 15: Small Loan Business, 58-15-1 through 58-15-39
Section 58-15-12: Advertising.


NM Stat § 58-15-12 (1996 through 1st Sess 50th Legis) What's This?

58-15-12. Advertising.

A licensee or other person subject to the New Mexico Small Loan Act of 1955 [58-15-31 NMSA 1978] shall not advertise, display, distribute or broadcast or cause or permit to be advertised, displayed, distributed or broadcast in any manner whatsoever a false, misleading or deceptive statement or representation with regard to the charges, terms or conditions for loans in the amount or of the value of two thousand five hundred dollars ($2,500) or less. The director may require that charges or rates of charge, if stated by a licensee, be stated fully and clearly in such manner as the director deems necessary to prevent misunderstanding by prospective borrowers. The director may permit or require licensees to refer in their advertising to the fact that their business is under state supervision, subject to conditions imposed by the director to prevent erroneous impressions as to the scope or degree of protection provided by the New Mexico Small Loan Act of 1955.

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