Statutes > New Mexico Statutes > Chapter 56 - Commercial Instruments and Transactions. > Article 8 - Money, Interest and Usury, 56-8-1 through 56-8-30. > Section 56-8-10 - Farm, ranch and agriculture loans.

Section 56-8-10 - Farm, ranch and agriculture loans.

56-8-10. Farm, ranch and agriculture loans.

The provisions of Subsections C, D and E of Section 56-8-9 NMSA 1978 are not applicable to loans secured by a first mortgage on farm, ranch or agricultural real estate where the purpose of the loan is primarily for farming, ranching or agricultural purposes.