New Mexico Statutes 58-15-15.1. No prepayment penalty on small loans
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No provision in a loan or the evidence of indebtedness of a loan made under the New Mexico Small Loan Act of 1955 requiring a penalty or premium for prepayment of the balance of the indebtedness is enforceable.
Terms Used In New Mexico Statutes 58-15-15.1
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.