There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 7: Installment Loans, 58-7-1 through 58-7-9
Section 58-7-3: Loans covered by act.
NM Stat § 58-7-3 (1996 through 1st Sess 50th Legis) What's This?
58-7-3. Loans covered by act.
The New Mexico Bank Installment Loan Act of 1959 [58-7-1 NMSA 1978] applies to a loan that is a precomputed loan repayable in installments or that is clearly identified on the loan documents as being made under that act.
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