2020 New Mexico Statutes
Chapter 61 - Professional and Occupational Licenses
Article 18A - Collection Agencies
Section 61-18A-8 - Applications; required information.
A. The application for a collection agency license shall state, among other things that may be required, the name of the applicant together with the name under which the applicant will do business and the location by street number and city in this state of the office of the business for which the license is sought.
B. The application shall state:
(1) in the case of an individual, the full residence address of the applicant;
(2) in the case of a partnership, the true names and complete residence addresses of all partners;
(3) in the case of a corporation, the true names and complete residence addresses of all directors and officers and the true names and residence addresses of all holders of ten percent or more of the corporation's outstanding stock and other securities and the number of shares or units of each and of all classes held by each and the total number of shares or units of each class issued and outstanding; and
(4) in the case of a nonstock corporation or an unincorporated association, the true names and complete residence addresses of all officers, directors and trustees.
C. The application shall state the name of the licensed manager who will be actively in charge of the collection agency for which the license is sought.
D. The director may establish, by rule, regulation or order, requirements for a license application as necessary, including:
(1) background checks for criminal history through fingerprint or other databases;
(2) civil or administrative records;
(3) credit history; and
(4) other information as deemed relevant and necessary by the director.
History: Laws 1987, ch. 252, § 8; 2019, ch. 144, § 28.
ANNOTATIONSThe 2019 amendment, effective July 1, 2019, authorized the director of the financial institutions division of the regulation and licensing department to establish certain requirements for a license application, and made certain technical amendments; added new subsection designations "B" and "C"; in Subsection B, added new paragraph designations "(1)" through "(4)"; and added Subsection D.
