N.M. Stat. § 58-32-301

Current through 2024, ch. 69

Section 58-32-301 - License required

A. A person shall not engage in check cashing or advertise, solicit or hold itself out as providing check cashing for which the person receives at least two thousand five hundred dollars ($2,500) within a thirty-day period unless the person:

(1) is licensed pursuant to Article 3 of the Uniform Money Services Act;

(2) is licensed for money transmission pursuant to Article 2 of the Uniform Money Services Act;

(3) is licensed for currency exchange pursuant to Article 4 of the Uniform Money Services Act; or

(4) is an authorized delegate of a person licensed pursuant to Article 2 of the Uniform Money Services Act.

B. A license pursuant to Article 3 of the Uniform Money Services Act is not transferable or assignable.

NMS § 58-32-301

Laws 2016, ch. 88, § 301; 2017, ch. 104, § 1.

Amended by 2017, c. 104,s. 1, eff. 7/1/2017.

Added by 2016, c. 88,s. 301, eff. 1/1/2017.