TITLE 12 TRADE, COMMERCE AND BANKING
CHAPTER 18 LOAN
COMPANIES
PART 7 HEARING PROCEDURES FOR SMALL LOAN COMPANIES
12.18.7.1 ISSUING
AGENCY: Financial Institutions Division of the
Regulation and Licensing Department.
[12.18.7.1
NMAC - Rp, 12.18.7.1 NMAC, 09/15/2018]
12.18.7.2 SCOPE:
Small loan licensees conducting business in New Mexico.
[12.18.7.2
NMAC - Rp, 12.18.7.2 NMAC, 09/15/2018]
12.18.7.3 STATUTORY
AUTHORITY: Section 58-15-11 NMSA 1978.
[12.18.7.3
NMAC - Rp, 12.18.7.3 NMAC, 09/15/2018]
12.18.7.4 DURATION:
Permanent.
[12.18.7.4
NMAC - Rp, 12.18.7.4 NMAC, 09/15/2018]
12.18.7.5 EFFECTIVE
DATE: September 15, 2018, unless a later date is
cited at the end of a section.
[12.18.7.5
NMAC - Rp, 12.18.7.5 NMAC, 09/15/2018]
12.18.7.6 OBJECTIVE:
The objective of this part is to establish regulations governing the
conduct of small loan licensees.
[12.18.7.6 NMAC - Rp,
12.18.7.6 NMAC, 09/15/2018]
12.18.7.7 DEFINITIONS: [RESERVED]
[12.18.7.7
NMAC - Rp, 12.18.7.7 NMAC, 09/15/2018]
12.18.7.8 HEARING
PROCEDURES:
A. Venue for all
hearings held pursuant to the New Mexico Small Loan Act of 1955 shall be in
Santa Fe, New Mexico unless the director, upon motion by a party, finds that it
would be appropriate to hold the hearing elsewhere in New Mexico.
B. Service of
subpoenas, summary orders, findings, and final orders shall be made either:
(1) personally;
(2) by certified mail, return receipt requested, sent to the
last known address of the person; or
(3) by such other means as are reasonably calculated to give
actual notice.
C. Upon written
request to another party, any party is entitled to:
(1) obtain the names and addresses of witnesses who will or may
be called by the other party to testify at the hearing; and
(2) inspect and copy any documents or items which the other
party will or may introduce in evidence at the hearing.
D. Default
orders: A respondent that has received
actual or constructive notice of a hearing having been set and fails to appear,
either in person or through counsel, at the time and place set for such hearing
shall be deemed to have admitted the allegations set forth in the summary order
or notice of intent that was entered in the matter before the hearing officer
and shall be deemed to have consented to entry of a final order.
[12.18.7.8
NMAC - Rp, 12.18.7.9 NMAC, 09/15/2018]
12.18.7.9 - 12.18.7.16 [RESERVED]
[12.18.7.9
NMAC - 12.18.7.16 NMAC - Repealed 09/15/2018]
HISTORY OF 12.18.7 NMAC:
12.18.7
NMAC - Terms And Conditions Of Payday Loan Agreements,
filed 11/01/2007 was repealed and replaced by 12.18.7 NMAC - Hearing Procedures
For Small Loan Companies, effective 09/15/2018.