Statutes > New Mexico Statutes > Chapter 58 - Financial Institutions and Regulations. > Article 7 - Installment Loans, 58-7-1 through 58-7-9. > Section 58-7-3 - Loans covered by act.

Section 58-7-3 - Loans covered by act.

58-7-3. Loans covered by act.

The New Mexico Bank Installment Loan Act of 1959 [58-7-1 NMSA 1978] applies to a loan that is a precomputed loan repayable in installments or that is clearly identified on the loan documents as being made under that act.