New Mexico Administrative Code

Main Street Revolving Loan Committee. Contact State Historic Preservation Division, Department of Cultural Affairs.

A. The committee shall meet at the call of the chair but no less than four times per year. B. Any meeting or hearing of the committee may be held at any place within the state of New Mexico. C. At each regular meeting of the committee, the committee and the historic preservation …

At the first meeting after the beginning of each fiscal year, the committee shall organize by the election and installation of a chairman, a vice-chairman and a secretary from among its members.

A. The chairman shall preside at all meetings and shall appoint all subcommittees. He shall otherwise perform all duties pertaining to the office of the chairman. B. The vice-chairman shall, in the absence or incapacity of the chairman, exercise the duties and shall possess all t…

A. The order of business shall be as follows:(1) approval of agenda; (2) review of minutes; (3) chairman's report; (4) historic preservation division report; (5) loan applications; (6) committee matters; (7) subcommittee matters; (8) old business; (9) new business; (10) date of m…

A. The chairman shall appoint from the membership of the committee and the division any necessary subcommittees to serve for a period not exceeding the chairman's term of office. B. The chairman shall specify the duties of such subcommittees as he may create.

This rule applies to members of the committee, the state historic preservation officer, the historic preservation division, members of the public having business with the committee, the economic development department, the New Mexico main street program and property owners in New…

Section 3-60C-4 NMSA 1978.

Permanent.

July 31, 2008, unless a later date is cited at the end of a section.

This rule of procedure shall serve the public and members of the committee as a guide to the operations and policies of the main street revolving loan committee. The rule shall be used as a reference and guide by all those concerned with observance and enforcement of the Main Str…

A. "Committee" means the main street revolving loan committee. B. "Division" means the historic preservation division, department of cultural affairs. C. "Eligible property" means a site, structure, building or object that is subject to the Main Street Act (3-60B-1 NMSA 1978) or …

A. The name of this committee shall be the "main street revolving loan committee," hereinafter referred to as the "committee." B. The powers and duties of the committee shall be those enumerated in Section 3-60C-4 NMSA 1978. C. The committee shall promulgate and revise as necessa…

A. Members of the committee are those appointed pursuant to Section 3-60C-4 NMSA 1978. B. Members of the committee shall receive per diem and travel compensation as provided by the Per Diem and Mileage Act (Sections 10-8-1 through 10-8-8, NMSA 1978 Comp.) for official meetings or…

Main Street Revolving Loan Committee. Contact State Historic Preservation Division, Department of Cultural Affairs.

A. An eligible property owner is a sole owner, joint owner, owner in partnership, corporate owner or owner of a leasehold interest of a term not less than five years, of any eligible property as described in Subsection A of 12.21.3.9 NMAC of these regulations. B. A loan or loan s…

A. MSRL contributions to the loan pool shall not be used to pay costs of land acquisition, legal costs, fiscal agents' fees, loan origination fees, points, or other charges incurred by the borrower or which may be imposed by the lending institution or other lending entity, includ…

The committee shall consider loan applications at a regularly scheduled public meeting. The committee will review the application for conformance with the applicable standards and will take action on the application. Such action will take the form of an approval, approval with co…

A. The committee in consultation with the division shall annually review and adopt a system for priority ranking of criteria applied to loan applications in a regular public meeting of the MSRLC. The priority ranking will assist the committee and the division in the review of app…

A. After approval by the committee of a preliminary loan application form and identification of a lending institution, the designated officer of the lending institution will advise the property owner of any additional documentation required by the lending institution. B. Applican…

A. The sufficiency of the collateral security interest in a main street property whose repair, rehabilitation or restoration is to be funded with funds from the main street revolving loan fund and lending institution(s) shall be determined by the participating lending institution…

Recording, title, credit report fees and costs charged by the lending institution(s) participating in the loan for a project shall not be paid with MSRL contributions to the loan pool.

A. The amount of MSRL funds contributed to the loan pool shall not exceed $75,000 for any one project except if granted by a waiver of the committee at a public meeting. B. The property owner of an approved project will repay the loan or loan subsidy in monthly installments. Paym…

The committee shall review architectural applications for conformance with the following MSRL standards: A. Rehabilitation standards for all eligible projects applying to the program provide the applicant with guidance on maintaining the architectural, design, historic, and main …

This rule applies to the members of the main street revolving loan committee, the state historic preservation officer, the historic preservation division, members of the public having business with the committee, the economic development department, the New Mexico main street pro…

A. All rehabilitation, restoration, repair and preservation of projects funded by a loan or loan subsidy from the main street revolving loan fund shall be governed by the MSRL standards as applicable. B. The committee may require professional design, architectural or engineering …

The requirements described in any section of these regulations may be subject to variance in accordance with the agreement and negotiations of the parties. Changes or divergence from the provisions described therein are within the discretion of the committee and the division.

Section 3-60C-4, NMSA 1978.

Five years.

December 15, 2008, unless a later date is cited at the end of a section.

This rule establishes lending procedures for loans and loan subsidies made to New Mexico main street property owners for the repair, rehabilitation, restoration and preservation of eligible main street properties and to promote preservation and economic development in main street…

A. "Acquisition" means the acquiring of a fee simple interest or of a lesser interest by appropriate mechanism, including but not limited to easement or lease, in a main street property. B. "Development agreement and covenants and deed restrictions" means the agreement entered in…

A. MSRL funds are contained in the main street revolving loan fund. Funding of restoration, rehabilitation, repair and preservation of an eligible property is accomplished by the division contributing an amount of MSRL funds into the loan pool. B. For each approved project, the d…

A. An eligible property is any property in the designated main street district, historic and non-historic. B. Eligible properties may be restored, rehabilitated, repaired, and preserved with a loan or loan subsidy using MSRL contributions to the loan pool.

Costs which can be paid with MSRL funds to the loan pool are architectural, design, graphic design, construction and engineering documents and planning costs, inspection of work in progress, contracted restoration, rehabilitation, and repair and costs necessary to meet code compl…

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.

All collection agencies licensed by the state of New Mexico.

Laws 1987, Chapter 252.

Permanent.

June 19, 1987 unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective September 30, 1997.

The objective of this part is to define licensing requirements for collection agencies in the state of New Mexico.

The term "liquid assets" as used in Section 9 of the Act is defined to mean cash or its equivalent, United States government obligations (direct or guaranteed), securities listed with a nationally recognized stock exchange and current (not more than 30 days overdue) accounts rece…

A. In determining the amount of bond to be furnished by an applicant for renewal of a collection agency license, the penal sum of the bond shall be the greater of $5,000.00 or an amount equal to the proceeds due clients for at least two months average collections during the previ…

Financial Institutions Division of the Regulation and Licensing Department, 2550 Cerrillos Road, Santa Fe, New Mexico 87505. Telephone No. (505) 476-4885.

All escrow companies required to be licensed by the state of New Mexico.

Section 58-22-6(A) NMSA 1978.

Permanent.

October 1, 2015, unless a later date is cited at the end of a section.

The objective of this sub-part is to effectuate the purposes of the Escrow Company Act.

A. "Act" means the Escrow Company Act, Sections 58-22-1 NMSA 1978 et seq., as amended. B. "Banking day" means a day a financial institution is open for the normal conduct of its business, but does not include Saturday, Sunday or any legal holiday. C. "Director" means the director…