N.M. Admin. Code § 1.10.13.16

Current through Register Vol. 35, No. 18, September 24, 2024

Section 1.10.13.16 - LOANS

A. All loans made to a candidate or committee, including loans sourced from a candidate's own personal funds must be reported.

B. Contribution limits apply to loans, unless the loan is sourced from the candidate's own personal funds in accordance with Subsection H of Section 1-19-34.7 NMSA 1978.

C. If a spouse of a candidate co-signs a commercial loan to a candidate pledging community assets as collateral, it is not considered a contribution from the spouse to the candidate as long as the candidate's interest in the community asset meets or exceed the amount of the loan.

D. Loan repayments and forgiven loans must be reported separately from other expenditures within the loan module of CFIS.

N.M. Admin. Code § 1.10.13.16

Adopted by New Mexico Register, Volume XXVIII, Issue 18, September 26, 2017, eff. 10/10/2017, Amended by New Mexico Register, Volume XXX, Issue 20, October 29, 2019, eff. 10/29/2019