Chapter 58, Chapter 58

A. No person shall engage in a trade or business or otherwise act as a commodity merchant unless such person: (1) is registered or temporarily licensed with the commodity futures trading commission for each activity constituting such person as a commodity merchant and such regist…

No person shall, directly or indirectly: A. cheat or defraud, or attempt to cheat or defraud, any other person or employ any device, scheme or artifice to defraud any other person; B. make any false report, enter any false record or make any untrue statement of a material fact or…

A. The act, omission or failure of any official, agent or other person acting for any individual, association, partnership, corporation or trust within the scope of his employment or office shall be deemed the act, omission or failure of such individual, association, partnership,…

Nothing in the Model State Commodity Code shall impair, derogate or otherwise affect the authority or powers of the director under the Securities Act of New Mexico [repealed] or the application of any provision thereof to any person or transaction subject thereto. History: Laws 1…

Sections 101 through 701 [58-13C-101 to 58-13C-701 NMSA 1978] of this act may be cited as the "New Mexico Uniform Securities Act". History: Laws 2009, ch. 82, § 101.

As used in the New Mexico Uniform Securities Act, unless the context otherwise requires: A. "agent" means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in eff…

As used in the New Mexico Uniform Securities Act, "Securities Act of 1933" (15 U.S.C. Section 77a, et seq.), "Securities Exchange Act of 1934" (15 U.S.C. Section 78a, et seq.), "Public Utility Holding Company Act of 1935" (15 U.S.C. Section 79, et seq.), "Investment Company Act o…

A reference in the New Mexico Uniform Securities Act to an agency or department of the United States is also a reference to a successor agency or department. History: Laws 2009, ch. 82, § 104.

The New Mexico Uniform Securities Act modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, but does not modify, limit or supersede Section 101(c) of that act (15 U.S.C. Section 7001(c)) or authorize electronic delivery of any of t…

The following securities are exempt from the requirements of Sections 301 [58-13C- 301 NMSA 1978] through 306 [58-13C-306 NMSA 1978] of the New Mexico Uniform Securities Act and, unless otherwise noted, Section 504 [58-13C-504 NMSA 1978] of that act: A. a security, including a re…

The following transactions are exempt from the requirements of Sections 301 [58- 13C-301 NMSA 1978] through 306 [58-13C-306 NMSA 1978] of the New Mexico Uniform Securities Act and, unless otherwise noted, Section 504 [58-13C-504 NMSA 1978] of that act: A. an isolated nonissuer tr…

A rule adopted or order issued pursuant to the New Mexico Uniform Securities Act may exempt a security, transaction or offer; a rule pursuant to the New Mexico Uniform Securities Act may exempt a class of securities, transactions or offers from any or all of the requirements of S…

of exemptions. A. Except with respect to a federal covered security or a transaction involving a federal covered security, an order pursuant to the New Mexico Uniform Securities Act may deny, suspend application of, condition, limit or revoke an exemption created pursuant to Para…

It is unlawful for a person to offer or sell a security in New Mexico unless: A. the security is a federal covered security; B. the security, transaction or offer is exempted from registration pursuant to Sections 201 [58-13C-201 NMSA 1978] through 203 [58-13C-203 NMSA 1978] of t…

A. With respect to a federal covered security, as defined in Section 18(b)(2) of the federal Securities Act of 1933 (15 U.S.C. Section 77r(b)(2)), that is not otherwise exempt pursuant to Sections 201 [58-13C-201 NMSA 1978] through 203 [58-13C-203 NMSA 1978] of the New Mexico Uni…

A. A security for which a registration statement has been filed pursuant to the federal Securities Act of 1933 in connection with the same offering may be registered by coordination pursuant to this section. B. A registration statement and accompanying records pursuant to this se…

A. A security may be registered by qualification pursuant to this section. B. A registration statement pursuant to this section shall contain the information or records specified in Section 305 [58-13C-305 NMSA 1978] of the New Mexico Uniform Securities Act, a consent to service …

A. A registration statement may be filed by the issuer, a person on whose behalf the offering is to be made or a broker-dealer registered pursuant to the New Mexico Uniform Securities Act. B. A person filing a registration statement shall pay a filing fee of one-tenth of one perc…

registration. A. The director may issue a stop order denying effectiveness to, or suspending or revoking the effectiveness of, a registration statement if the director finds that the order is in the public interest and that: (1) the registration statement as of its effective date…

The director may waive or modify, in whole or in part, any or all of the requirements of Sections 302 [58-13C-302 NMSA 1978] and 303 [58-13C-303 NMSA 1978] of the New Mexico Uniform Securities Act and Subsection B of Section 304 [58-13C-304 NMSA 1978] of that act or the requireme…

exemptions. A. It is unlawful for a person to transact business in New Mexico as a broker-dealer unless the person is registered pursuant to the New Mexico Uniform Securities Act as a broker-dealer or is exempt from registration as a broker-dealer pursuant to Subsection B or D of…

A. It is unlawful for an individual to transact business in New Mexico as an agent unless the individual is registered pursuant to the New Mexico Uniform Securities Act as an agent or is exempt from registration as an agent pursuant to Subsection B of this section. B. The followi…

exemptions. A. It is unlawful for a person to transact business in New Mexico as an investment adviser unless the person is registered pursuant to the New Mexico Uniform Securities Act as an investment adviser or is exempt from registration as an investment adviser pursuant to Su…

requirement and exemptions. A. It is unlawful for an individual to transact business in New Mexico as an investment adviser representative unless the individual is registered pursuant to the New Mexico Uniform Securities Act as an investment adviser representative or is exempt fr…

requirement. A. Except with respect to a federal covered investment adviser described in Subsection B of this section, it is unlawful for a federal covered investment adviser to transact business in New Mexico as a federal covered investment adviser unless the federal covered inv…

adviser and investment adviser representative. A. A person shall register as a broker-dealer, agent, investment adviser or investment adviser representative by filing an application and a consent to service of process complying with Section 611 [58-13C-611 NMSA 1978] of the New M…

or investment adviser. A. A broker-dealer or investment adviser may succeed to the current registration of another broker-dealer or investment adviser or a notice filing of a federal covered investment adviser, and a federal covered investment adviser may succeed to the current r…

investment adviser representative and transfer of employment or association. A. If an agent registered pursuant to the New Mexico Uniform Securities Act terminates employment by or association with a broker-dealer or issuer, or if an investment adviser representative registered p…

investment adviser and investment adviser representative. Withdrawal of registration by a broker-dealer, agent, investment adviser or investment adviser representative becomes effective sixty days after the filing of the application to withdraw or within any shorter period as pro…

A. A person shall pay a fee of three hundred dollars ($300) when initially filing an application for registration as a broker-dealer and when filing a renewal of registration as a broker-dealer. B. The fee for an individual shall be fifty dollars ($50.00) when filing an applicati…

A. Subject to Section 15(h) of the federal Securities Exchange Act of 1934 (15 U.S.C. Section 78o(h)) or Section 222 of the federal Investment Advisers Act of 1940 (15 U.S.C. Section 80b-22), a rule adopted or order issued pursuant to the New Mexico Uniform Securities Act may est…

condition or limitation of registration. A. If the director finds that the order is in the public interest and that Subsection C of this section authorizes the action, an order issued pursuant to the New Mexico Uniform Securities Act may postpone, deny, suspend or revoke any regi…

It is unlawful for a person, in connection with the offer, sale or purchase of a security, directly or indirectly: A. to employ a device, scheme or artifice to defraud; B. to make an untrue statement of a material fact or to omit to state a material fact necessary in order to mak…

A. It is unlawful for a person that advises others for compensation, either directly or indirectly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing or selling securities or that, for compensation and as part of a r…

A. In a civil action or administrative proceeding pursuant to the New Mexico Uniform Securities Act, a person claiming an exemption, exception, preemption or exclusion has the burden to prove the applicability of the claim. B. In a criminal proceeding pursuant to the New Mexico U…

A. Except as otherwise provided in Subsection B of this section, a rule adopted or order issued pursuant to the New Mexico Uniform Securities Act may require the filing of a prospectus, pamphlet, circular, form letter, advertisement, sales literature or other advertising record r…

It is unlawful for a person to make or cause to be made, in a record that is used in an action or proceeding or filed pursuant to the New Mexico Uniform Securities Act, a statement that, at the time and in the light of the circumstances pursuant to which it is made, is false or m…

exemption. The filing of an application for registration, a registration statement, a notice filing pursuant to the New Mexico Uniform Securities Act, the registration of a person, the notice filing by a person or the registration of a security pursuant to that act does not const…

A broker-dealer, agent, investment adviser, federal covered investment adviser or investment adviser representative is not liable to another broker-dealer, agent, investment adviser, federal covered investment adviser or investment adviser representative for defamation relating t…

A. A person who willfully violates Section 501 [58-13C-501 NMSA 1978] or 502 [58- 13C-502 NMSA 1978] of the New Mexico Uniform Securities Act is guilty of a third degree felony and, upon conviction, shall be fined not more than five thousand dollars ($5,000) or imprisoned not mor…

A. Enforcement of civil liability pursuant to this section is subject to the federal Securities Litigation Uniform Standards Act of 1998 (P.L. 105-353, 112 Stat. 3227, et seq.). B. A person is liable to the purchaser if the person sells a security in violation of Section 301 [58-…

A purchaser, seller or recipient of investment advice shall not maintain an action pursuant to Section 509 [58-13C-509 NMSA 1978] of the New Mexico Uniform Securities Act if: A. the purchaser, seller or recipient of investment advice receives in a record, before the action is ins…

A. The director shall administer the New Mexico Uniform Securities Act. The director shall be appointed by the superintendent of regulation and licensing subject to confirmation by the senate. The director shall be chosen solely on the basis of fitness to perform the duties of th…

A. The director may: (1) conduct public or private investigations within or outside of New Mexico that the director considers necessary or appropriate to determine whether a person has violated, is violating or is about to violate the New Mexico Uniform Securities Act, or a rule …

A. If the director believes that a person has engaged, is engaging or is about to engage in an act, practice or course of business constituting a violation of the New Mexico Uniform Securities Act or a rule adopted or order issued pursuant to that act or that a person has, is or …

A. If the director determines that a person has engaged, is engaging or is about to engage in an act, practice or course of business constituting a violation of the New Mexico Uniform Securities Act or a rule adopted or order issued pursuant to that act or that a person has mater…

hearings. A. The director may: (1) issue forms and orders and, after notice and comment, may adopt and amend rules necessary or appropriate to carry out the New Mexico Uniform Securities Act and may repeal rules, including rules and forms governing registration statements, applic…

A. The director shall maintain, or designate a person to maintain, a register of applications for registration of securities; registration statements; notice filings; applications for registration of broker-dealers, agents, investment advisers and investment adviser representativ…

A. Except as otherwise provided in Subsection B of this section, records obtained by the director or filed pursuant to the New Mexico Uniform Securities Act, including a record contained in or filed with a registration statement, application, notice filing or report, are public r…

A. The director may, in the director's discretion, cooperate, coordinate, consult and, subject to Section 607 [58-13C-607 NMSA 1978] of the New Mexico Uniform Securities Act, share records and information with the securities regulator of another state, Canada, a Canadian province…