Sections 101 through 701 [58-13C-101 to 58-13C-701 NMSA 1978] of this act may be cited as the "New Mexico Uniform Securities Act".

History: Laws 2009, ch. 82, § 101.

Effective dates. — Laws 2009, ch. 82, § 704 made the New Mexico Uniform Securities Act effective January 1, 2010.

Cross references. — For disposition of unclaimed property, see 7-8A-30 NMSA 1978.

For exemption of New Mexico business development corporation from Securities Act, see 53-7-40 NMSA 1978.

For uniform jury instructions for securities offenses, see UJI 14-4301 NMRA.

Cases under prior law. — The pre-2010 cases below were decided under the former New Mexico Securities Act of 1986, Chapter 58, Article 13B. Due to the similarities between the two laws, the case annotations have been retained and included as annotations to the New Mexico Uniform Securities Act.

Purpose of Act. — The Securities Act, as a whole, has remedial purpose. It is comprehensive. Its extensive regulatory and administrative provisions are aimed at protecting investors against unfair, deceptive and fraudulent practices in the sale of securities. State v. Kirby, 2003-NMCA-074, 133 N.M. 782, 70 P.3d 772, cert. denied, 133 N.M. 727, 69 P.3d 237.

Corporate stock sold to employees subject to registration. — Sales of corporate stock, either for cash or on credit, to employees of the issuing corporation, are subject to the registration provisions of this article. 1959 Op. Att'y Gen. No. 59-49.

Law reviews. — For article, "A Survey of the Securities Act of New Mexico," see 2 N.M.L. Rev. 1 (1972).

For article, "The Use (or Abuse) of the Limited Partnership in Financing Real Estate Ventures in New Mexico," see 3 N.M.L. Rev. 251 (1973).

For comment, "Securities: Private Placements in New Mexico," see 7 N.M.L. Rev. 105 (1976-77).

For note, "State Securities Law: A Valuable Tool for Regulating Investment Land Sales," see 7 N.M.L. Rev. 265 (1977).

For case note, "The Paper Trail to Jail. State v. Sheets, 94 N.M. 356, 610 P.2d 760 (Ct. App.), cert. denied, 94 N.M. 675, 615 P.2d 992 (1980)," see 11 N.M.L. Rev. 254 (1981).

Am. Jur. 2d, A.L.R. and C.J.S. references. — 69A Am. Jur. 2d Securities Regulation - State § 1 et seq.

Commodities broker's state-law duties to customers, 55 A.L.R.4th 394.

Construction and application of pre-emption exemption, under Employee Retirement Income Security Act (29 USCS §§ 1001 et seq.), for state laws regulating insurance, banking, or securities (29 USCS § 1144(b)(2)), 87 A.L.R. Fed. 797.

Defense of ignorance of untruth or omission in civil action under § 12(2) of Securities Act of 1933 (15 USC § 771(2)), 109 A.L.R. Fed. 444.

"Bespeaks caution" doctrine under federal securities laws, 130 A.L.R. Fed 119.