There is a newer version of the New Mexico Statutes
2013 New Mexico Statutes
Chapter 56 - Commercial Instruments and Transactions
Article 12 - Pawnbrokers
Section 56-12-10 - Pawn ticket. (1985)
NM Stat § 56-12-10 (2013) What's This?
56-12-10. Pawn ticket. (1985)
A. Every pawnbroker shall at the time of each pawn transaction deliver to the person pawning any good, a ticket signed by the pawnbroker containing the substance of the entry required to be made in his report pursuant to Section 9 [56-12-9 NMSA 1978] of the Pawnbrokers Act.
B. The holder of such ticket shall be presumed to be the person entitled to redeem the pledge and the pawnbroker shall deliver such article to the person so presenting such ticket on payment of principal and all lawful charges.
C. The pawn ticket required by this section shall further contain all disclosures of credit terms required to be disclosed to the pledgor by the federal Truth in Lending Act.
History: Laws 1985, ch. 228, § 10.
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