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Section 56-2-1 - Definitions.

NM Stat § 56-2-1 (2019) (N/A)
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As used in this act [56-2-1 to 56-2-4 NMSA 1978]:

A. "person" means an individual, partnership, corporation and association;

B. "debt adjuster" means a person who acts or offers to act for a consideration as an intermediary between a debtor and his creditors for the purpose of settling, compounding or in anywise altering the terms of payment of any debts of the debtor; and, to that end, receives money or other property from the debtor, or on behalf of the debtor, for payment to, or distribution among the creditors of the debtor;

C. "debtor" means an individual, and includes two (2) or more individuals who are jointly and severally, or jointly or severally indebted.

History: 1953 Comp., § 50-17-1, enacted by Laws 1965, ch. 80, § 1.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Collection and Credit Agencies §§ 1, 17, 18.

Survival of liability on joint obligation, 67 A.L.R. 608.

Legislation regulating, taxing or forbidding debt adjusting, 95 A.L.R.2d 1354.

What constitutes false, deceptive, or misleading representation or means in connection with collection of debt proscribed by provisions of Fair Debt Collection Practices Act (15 USCS § 1692e), 67 A.L.R. Fed. 974.

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Section 56-2-2 - Prohibition; penalty.