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New Mexico Statutes Chapter 58. Financial Institutions and Regulations § 58-7-3.2. Extension agreement

Current as of January 01, 2024 | Updated by Findlaw Staff

In precomputed loan transactions where the borrower and lender execute an extension agreement for the deferral of an installment payment, the lender may make an interest charge on the monthly installment that is deferred at a rate not exceeding that on the original loan for each month or portion of a month that the payment has been deferred.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 58. Financial Institutions and Regulations § 58-7-3.2. Extension agreement - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-58-financial-institutions-and-regulations/nm-st-sect-58-7-3-2/

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