N.M. Stat. § 58-15-15.1

Current through 2024, ch. 69

Section 58-15-15.1 - No prepayment penalty on small loans

No provision in a loan or the evidence of indebtedness of a loan made under the New Mexico Small Loan Act of 1955 requiring a penalty or premium for prepayment of the balance of the indebtedness is enforceable.

NMS § 58-15-15.1

1978 Comp., § 58-15-15.1, enacted by Laws 1980, ch. 73, § 3.