Statute

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David A. Szwak
Posts: 1974
Joined: Thu Jul 13, 2006 11:19 pm

Statute

Post by David A. Szwak »

New Mexico
Annotated Code of New Mexico, Chapter 61, Article 18A (61-18A)
www.amlegal.com/nxt/gateway.dll?f=templ ... =newmexico:
David A. Szwak
Posts: 1974
Joined: Thu Jul 13, 2006 11:19 pm

Post by David A. Szwak »

New Mexico State Statutes Regulating Debt Collection
18A. Collection agencies.


61-18A-3. Administration and enforcement. The administration and enforcement of the Collection Agency Regulatory Act [61-18A-1 to 61-18A-33 NMSA 1978] shall be vested in the office of the director as hereinafter set forth.
A. The director shall investigate violations or alleged violations of the Collection Agency Regulatory Act by persons engaged in business as collection agencies or repossessors who fail to obtain licenses.

B. The director may examine the business and the books, accounts, records and files used therein by a collection agency licensee and for such purpose the director shall have free access to the offices, places of business, books, accounts, records, papers, files, safes and vaults of all licensees and other persons engaging or attempting to engage in business as a collection agency.

C. Any examination reports or other documents or information developed in administration of this section are confidential and not subject to subpoena.

61-18A-5. Unlawful to conduct collection agency or engage in the business of a repossessor without license.
A. No person shall conduct within this state a collection agency, act as a collection agency manager or engage within the state in the business of collecting claims for others or of soliciting the right to collect or receive payment from another of any claim or advertise or solicit either in print, by letter, in person or otherwise, the right to collect or receive payment for another of any claim or seek to make collection or obtain payment of any claim on behalf of another without having first applied for and obtained the licenses required by the Collection Agency Regulatory Act [61-18A-1 to 61-18A-33 NMSA 1978].

B. No person shall conduct within this state the business of a repossessor without having first applied for and obtained a repossessor's license.

C. No person shall be considered to be engaged in collection activity within this state if that person's activities regarding this state are limited to collecting debts not incurred in New Mexico from debtors located in this state by means of interstate communications, including telephone, mail or facsimile transmission, from the person's location in another state.

Note: New Mexico's Collection Agency Regulatory Act [61-18A-1 to 61-18A-33 NMSA 1978] does not include a prohibited practices section. Statutes 1-33 deal mostly with compliance issues and therefore, were omitted.

Read entire statute at:
http://www.conwaygreene.com/nmsu/lpext. ... -h.htm&2.0
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