Any person, copartnership, trust, association or corporation and the several members, beneficiaries, officers, directors, agents and employees thereof who violate or participate in the violation of any provision of the New Mexico Small Loan Act of 1955 are guilty of a misdemeanor and upon conviction shall be punished by a fine of not less than five hundred dollars ($500) or more than one thousand dollars ($1,000) or by imprisonment of not more than six months or both in the discretion of the court.
History: 1953 Comp., § 48-17-57, enacted by Laws 1955, ch. 128, § 28; 2007, ch. 86, § 13.
ANNOTATIONSCompiler's notes. — For meaning of "this act", see notes following 58-15-1 NMSA 1978.
Severability clause. — Laws 2007, ch. 86, § 23 provides that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.
The 2007 amendment, effective November 1, 2007, increases the penalty to not less than $500 and not more than $1,000 or imprisonment of not more than six months for a violation of the New Mexico Small Loan Act.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 53A Am. Jur. 2d Money Lenders and Pawnbrokers §§ 46, 47, 48.
58 C.J.S. Money Lenders §§ 6, 9.