Section 58-21A-8 - Subterfuge prohibited.

58-21A-8. Subterfuge prohibited.

No person shall, with the intent to avoid the application or provisions of the Home Loan Protection Act [58-21A-1 NMSA 1978]:   

A.     divide a loan transaction into separate parts;   

B.     structure a home loan transaction as an open-end loan when the loan would have been a high-cost home loan if the loan had been structured as a closed-end loan; or   

C.     perform any other subterfuge.