New Mexico Statutes 57-12B-3. Disclosure of social security number
A. Except as provided in Subsection B of this section, no business shall require a consumer’s social security number as a condition for the consumer to lease or purchase products, goods or services from the business.
Terms Used In New Mexico Statutes 57-12B-3
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
B. Nothing in this section prohibits a business from requiring or requesting a consumer’s social security number if the number will be used in a manner consistent with state or federal law or as part of an application for credit or in connection with annuity or insurance transactions.
C. Nothing in this section prohibits a business from acquiring or using a consumer’s social security number if the consumer consents to the acquisition or use.
D. A company acquiring or using social security numbers of consumers shall adopt internal policies that:
(1) limit access to the social security numbers to those employees authorized to have access to that information to perform their duties; and
(2) hold employees responsible if the social security numbers are released to unauthorized persons.