Statutes > New Mexico Statutes > Chapter 58 - Financial Institutions and Regulations. > Article 1A - Consumer Credit Banks, 58-1A-1 through 58-1A-8. > Section 58-1A-6 - Regulation of consumer credit banks.

Section 58-1A-6 - Regulation of consumer credit banks.

58-1A-6. Regulation of consumer credit banks.

A.     A consumer credit bank organized under the laws of New Mexico shall be subject to the supervision, regulation and examination of the director.   

B.     The director shall adopt and promulgate rules and regulations implementing the provisions of the Consumer Credit Bank Act [58-1A-1 NMSA 1978], including provisions for the formation and organization of a consumer credit bank.