New Mexico Statutes Chapter 58. Financial Institutions and Regulations § 58-13C-204. Denial, suspension, revocation, condition or limitation of exemptions

A. Except with respect to a federal covered security or a transaction involving a federal covered security, an order pursuant to the New Mexico Uniform Securities Act may deny, suspend application of, condition, limit or revoke an exemption created pursuant to Paragraph (4) of Subsection C of Section 201 of that act, Subsection G or H of Section 201 of that act or Section 202 of that act or an exemption or waiver created pursuant to Section 203 of that act with respect to a specific security, transaction or offer. An order pursuant to this section may be issued only pursuant to the procedures set forth in Subsection D of Section 306 or Section 604 of the New Mexico Uniform Securities Act and only prospectively.

B. A person does not violate Section 301, 303 through 306, 504 or 510 of the New Mexico Uniform Securities Act by an offer to sell, offer to purchase, sale or purchase effected after the entry of an order issued pursuant to this section if the person did not know, and in the exercise of reasonable care could not have known, of the order.