No provision in a loan or the evidence of indebtedness of a loan made under the New Mexico Small Loan Act of 1955 requiring a penalty or premium for prepayment of the balance of the indebtedness is enforceable. History: 1978 Comp., § 58-15-15.1, enacted by Laws 1980, ch. 73, § 3.
No prepayment penalty on small loans
NMSA 1978, § 58-15-15.1 — under Article 15.
NMSA 1978, § 58-15-15.1