2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 19: Motor Vehicle Sales Finance, 58-19-1 through 58-19-14
Section 58-19-5: Investigations; complaints; examinations; fees.
58-19-5. Investigations; complaints; examinations; fees.
A. The director has the power to make such investigations as he deems necessary and, to the extent necessary for this purpose, may examine any licensee or any other person and has the power to compel the production of all relevant books, records, accounts and documents.
B. Any retail buyer having reason to believe that the Motor Vehicle Sales Finance Act [58-19-1 NMSA 1978] relating to his retail installment contract has been violated may file with the director a written complaint setting forth the details of the alleged violation; and the director, upon receipt of the complaint, may inspect the pertinent books, records, letters and contracts of the licensee and of the retail seller involved.
C. As a fee for conducting any examination or investigation pursuant to this section, a sales finance company shall pay to the director the costs of such examination or investigation, as determined by the director.
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