§ 56-8-1 [Lawful money; definition; application.]
§ 56-8-2 [Denominations to be reduced to lawful basis in actions.]
§ 56-8-3 Interest rate; no written contract
§ 56-8-4 Judgments and decrees; basis of computing interest
§ 56-8-5 Interest; open accounts
§ 56-8-6 Grain purchase contracts; disclosure regarding act of God clause
§ 56-8-7 Procuring loans; rate of commission; exceptions
§ 56-8-8 [Excessive commission for procuring loan; penalty.]
§ 56-8-9 Excessive charges prohibited; applicability of maximum rates; definition
§ 56-8-10 Farm, ranch and agriculture loans
§ 56-8-12 Loans by agent; liability of principal
§ 56-8-13 Penalties and forfeitures
§ 56-8-14 Criminal penalty
§ 56-8-21 Usury; corporations and limited partnerships
§ 56-8-22 Short title
§ 56-8-23 Purpose of act
§ 56-8-24 Definitions
§ 56-8-29 Civil penalty for violation of act
§ 56-8-30 No prepayment penalty on home loans

Terms Used In New Mexico Statutes > Chapter 56 > Article 8 - Money, Interest and Usury

  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Forbearance: A means of handling a delinquent loan. A
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC