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Current as of January 01, 2024 | Updated by Findlaw Staff
Every pawnbroker shall keep a permanent record, fully itemized, of all pledged property disposed of following default by the pledgor. The record shall include the following:
A. the number of the pawn transaction;
B. the name and address of the pledgor;
C. the date of the pawn transaction and the date of the last payment received as service charge or on principal;
D. the date of disposition of the pledged property pursuant to Section 11 of the Pawnbrokers Act;
E. the method of disposition of the pledged property; and
F. the amount and disposition of any surplus following disposition of the pledged property.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 56. Commercial Instruments and Transactions § 56-12-12. Record of disposition of pledged property - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-56-commercial-instruments-and-transactions/nm-st-sect-56-12-12/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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