N.M. Admin. Code § 12.18.10.9

Current through Register Vol. 35, No. 23, December 10, 2024

Section 12.18.10.9 - BUSINESS SITE REQUIREMENTS

A. Small loan businesses operating one or more business site(s) shall obtain a separate license for each site pursuant to Subsection A of Section 58-15-3 NMSA 1978.

B. Small loan businesses shall make the most current small loan license certificate easily accessible and available for review within the business site.

C. Small loan businesses operating one or more business site(s) shall be responsible for all disclosures to be posted on such site(s). This shall include making the mandatory consumer information brochure pursuant to Subsection C of 12.18.3.8 NMAC and the mandatory signage for all small loan companies pursuant to Subsection A of 12.18.4.8 NMAC.

D. All small loan businesses operating one or more business site(s) shall provide a disclosure in an easily accessible and visible location the following words "TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL ________________." The blank shall be filled in with a position title, address, phone number, and email address of the company's problem resolution person.

E. The above shall also contain a separate disclosure stating the following words: "New Mexico Only: This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the Division by telephone at (505) 476-4885 or visit the website: www.rld.nm.gov/financial-institutions/."

N.M. Admin. Code § 12.18.10.9

Adopted by New Mexico Register, Volume XXIX, Issue 16, August 28, 2018, eff. 9/15/2018, Amended by New Mexico Register, Volume XXXIV, Issue 05, March 14, 2023, eff. 3/29/2023