New Mexico Statutes 30-43-4. Financing extortionate extensions of credit
Current as of: 2023 | Check for updates
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A person who knowingly advances money or property, whether as a gift, loan or investment, to any person with reasonable grounds to believe that it is the intention of that person to use the money or property so advanced, directly or indirectly, for the purpose of making extortionate extensions of credit is guilty of a third degree felony.
Attorney's Note
Under the New Mexico Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| third degree felony | up to 3 years | up to $5,000 |
Terms Used In New Mexico Statutes 30-43-4
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.