Chapter 58, Chapter 58

A. A resolution for the issuance of bonds shall set forth the determinations and findings of the authority required by this section. B. Prior to approving a resolution for the issuance of bonds or the closing of a loan for any project, the authority shall determine and find that:…

A. The proceeds from the sale of any bonds issued pursuant to the Spaceport Development Act shall be applied only for the purpose for which the bonds were issued; provided that: (1) any accrued interest and premiums received in any sale shall be applied to the payment of the prin…

authorization. A. The authority may issue refunding revenue bonds for the purpose of refinancing, paying and discharging all or any part of outstanding authority revenue bonds: (1) for the acceleration, deceleration or other modification of payment of such obligations, including,…

A. Refunding bonds issued pursuant to the Spaceport Development Act shall be authorized by resolution of the authority. Any bonds that are refunded under the provisions of this section shall be paid at maturity or on any permitted prior redemption date in the amounts, at the time…

[The] authority [when] refunding revenue bonds: A. may have interest or appreciated principal value payable at intervals or at maturity; B. may be subject to prior redemption at the authority's option at such time or times and upon such terms and conditions with or without the pa…

Bonds authorized pursuant to the Spaceport Development Act and the income from those bonds, all mortgages or other security instruments executed as security for those bonds, all lease and installment purchase agreements made pursuant to the provisions of that act and revenue deri…

A. The "spaceport authority fund" is created in the state treasury. Separate accounts within the fund may be created for any project. Money in the fund is appropriated to the authority for the purposes of carrying out the provisions of the Spaceport Development Act. Money in the …

A. The following information obtained by the authority is not subject to inspection pursuant to the Inspection of Public Records Act [Chapter 14, Article 2 NMSA 1978]: (1) proprietary technical or business information, or information that is related to the possible relocation, ex…

The purpose of the Spaceport Development Act is to: A. encourage and foster development of the state and its cities and counties by developing spaceport facilities in New Mexico; B. actively promote and assist public and private sector infrastructure development to attract new in…

As used in the Spaceport Development Act: A. "authority" means the spaceport authority; B. "project" means any land, building or other improvements acquired as part of a spaceport or associated with a spaceport or to aid commerce in connection with a spaceport and all real and pe…

A. The "spaceport authority" is created. The authority is a state agency and is administratively attached to the economic development department. B. The authority shall consist of seven voting and two nonvoting members, six of whom shall be appointed by the governor with the cons…

A. The authority shall: (1) hire an executive director, who shall employ the necessary professional, technical and clerical staff to enable the authority to function efficiently and shall direct the affairs and business of the authority, subject to the direction of the authority;…

revenue bonds. A. The authority may issue revenue bonds on its own behalf or on behalf of a regional spaceport district, for regional spaceport purposes and spaceport-related projects. Revenue bonds so issued may be considered appropriate investments for the severance tax permane…

If the authority borrows money from a financial institution or other entity: A. the interest, principal payments or any part thereof shall be payable at intervals as may be determined by the authority; B. the loan shall mature at any time not exceeding thirty years from the date …

The bonds issued by the authority may be secured by a trust indenture between the authority and a corporate trustee that may be either a bank having trust powers or a trust company. The trust indenture may contain reasonable provisions for protecting and enforcing the rights and …

authentication. A. Revenue bonds or refunding bonds issued pursuant to the Spaceport Development Act and other loans to the authority are: (1) not general obligations of the state or any other agency of the state or of the authority; and (2) payable only from properly pledged rev…

In applying and construing the Uniform Money Services Act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. History: Laws 2016, ch. 88, § 1001.

The director may promulgate rules to administer and enforce the Uniform Money Services Act, including rules necessary or appropriate to: A. implement and clarify the Uniform Money Services Act; B. preserve and protect the safety and soundness of money services businesses; C. prot…

of process; forwarding of process; consent to jurisdiction. A. A licensee, an authorized delegate or a person who knowingly engages in activities that are regulated by the Uniform Money Services Act and require a license, with or without filing an application or holding a license…

appropriation. A. The "money services regulatory fund" is created as a nonreverting fund in the state treasury and shall be administered by the financial institutions division of the regulation and licensing department. The fund shall consist of application, licensing, renewal, i…

This act [58-32-101 to 58-32-1004 NMSA 1978] may be cited as the "Uniform Money Services Act". History: Laws 2016, ch. 88, § 101.

As used in the Uniform Money Services Act: A. "applicant" means a person that files an application for a license pursuant to the Uniform Money Services Act; B. "authorized delegate" means a person that a licensee designates to provide money services on behalf of the licensee; C. …

The Uniform Money Services Act does not apply to: A. the United States or a department, agency or instrumentality thereof; B. money transmission by the United States postal service or by a contractor on behalf of the United States postal service; C. a state, county, city or any o…

A. A person shall not engage in the business of money transmission or advertise, solicit or hold itself out as providing money transmission unless the person: (1) is licensed pursuant to Article 2 [58-32-201 to 58-32-206 NMSA 1978] of the Uniform Money Services Act; or (2) is an …

A. A person applying for a license pursuant to Article 2 of the Uniform Money Services Act shall apply in a record signed under penalty of perjury that shall be in a form and in a medium required by the director. Each form shall contain content as set forth by rule, instruction o…

A. Except as otherwise provided in Subsection B of this section, a surety bond, letter of credit, or other similar security acceptable to the director shall accompany an application for a license pursuant to Article 2 [58-32-201 to 58-32-206 NMSA 1978] of the Uniform Money Servic…

A. When an application is filed pursuant to Article 2 [58-32-201 to 58-32-206 NMSA 1978] of the Uniform Money Services Act, the director shall investigate the applicant's financial condition and responsibility, financial and business experience, character and general fitness. The…

A. A license issued pursuant to Article 2 [58-32-201 to 58-32-206 NMSA 1978] of the Uniform Money Services Act shall expire on December 31 each year. A licensee pursuant to Article 2 of the Uniform Money Services Act shall pay an annual renewal fee of one thousand dollars ($1,000…

A licensee pursuant to Article 2 [58-32-201 to 58-32-206 NMSA 1978] of the Uniform Money Services Act shall maintain a net worth of at least the following amounts determined in accordance with generally accepted accounting principles: A. for one to four locations of the licensee …

A. A person shall not engage in check cashing or advertise, solicit or hold itself out as providing check cashing for which the person receives at least two thousand five hundred dollars ($2,500) within a thirty-day period unless the person: (1) is licensed pursuant to Article 3 …

A. A person applying for a license pursuant to Article 3 of the Uniform Money Services Act shall apply in a record signed under penalty of perjury that shall be in a form and in a medium required by the director. Each form shall contain content as set forth by rule, instruction o…

A. When an application is filed pursuant to Article 3 [58-32-301 to 58-32-304 NMSA 1978] of the Uniform Money Services Act, the director shall investigate the applicant's financial condition and responsibility, financial and business experience, character and general fitness. The…

A. A license issued pursuant to Article 3 [58-32-301 to 58-32-304 NMSA 1978] of the Uniform Money Services Act shall expire on December 31 each year. A licensee pursuant to Article 3 of the Uniform Money Services Act shall pay an annual renewal fee of one thousand dollars ($1,000…

A. A person shall not engage in currency exchange or advertise, solicit or hold itself out as providing currency exchange for which the person receives revenues equal or greater than five percent of total revenues unless the person: (1) is licensed pursuant to Article 4 [58-32-40…

A. A person applying for a license pursuant to Article 4 of the Uniform Money Services Act shall apply in a record signed under penalty of perjury that shall be in a form and in a medium required by the director. Each form shall contain content as set forth by rule, instruction o…

A. When an application is filed pursuant to Article 4 [58-32-401 to 58-32-404 NMSA 1978] of the Uniform Money Services Act, the director shall investigate the applicant's financial condition and responsibility, financial and business experience, character and general fitness. The…

A. A license issued pursuant to Article 4 [58-32-401 to 58-32-404 NMSA 1978] of the Uniform Money Services Act shall expire on December 31 each year. A licensee pursuant to Article 4 of the Uniform Money Services Act shall pay an annual renewal fee of one thousand dollars ($1,000…

A. As used in this section, "remit" means: (1) to make direct payments of money to a licensee or its representative authorized to receive money; or (2) to deposit money in a bank in an account specified by the licensee. B. A contract between a licensee and an authorized delegate …

A person shall only act as a delegate for a licensee. A person that provides money services on behalf of a person not licensed pursuant to the Uniform Money Services Act is considered to act in its own capacity and may be subject to civil and criminal penalties for providing mone…

A. The director may conduct an annual examination of a licensee or of any of its authorized delegates upon forty-five days' notice in a record to the licensee. B. The director may examine a licensee or its authorized delegate at any time, without notice, if the director has reaso…

The director may consult and cooperate with other state agencies, agencies of another state or of the United States or the nationwide multistate licensing system and registry in enforcing and administering the Uniform Money Services Act. They may jointly pursue examinations and t…

A. A licensee shall file with the director a record signed under penalty of perjury that shall be in a form and in a medium prescribed by the director and that shall contain any material change in information provided in the licensee's application or the information provided by t…

A. A licensee shall: (1) give the director notice in a record signed under penalty of perjury in a form and in a medium prescribed by the director of a proposed change of control within fifteen days after learning of the proposed change of control; (2) request approval by the dir…

A. A licensee shall maintain the following records for determining its compliance with the Uniform Money Services Act for at least three years: (1) a record of each payment instrument or stored-value obligation sold; (2) a general ledger posted at least monthly containing all ass…

A. A licensee and an authorized delegate shall file with the New Mexico attorney general all reports required by federal currency reporting, recordkeeping and suspicious transaction reporting requirements as set forth in 31 U.S.C. Section 5311 et seq. (1994) or any successor law;…

A. Except as otherwise provided in Subsection B of this section, all information or reports obtained by the director from an applicant, licensee or authorized delegate and all information contained in or related to examination, investigation, operating or condition reports prepar…

A. A licensee shall maintain at all times permissible investments that have a market value computed in accordance with generally accepted accounting principles of not less than the aggregate amount of all of its outstanding payment instruments and stored- value obligations issued…

A. Except to the extent otherwise limited by the director pursuant to Section 701 [58-32-701 NMSA 1978] of the Uniform Money Services Act, the following investments are permissible pursuant to Section 701 of that act: (1) cash, a certificate of deposit or senior debt obligation o…

A. The director may suspend or revoke a license, place a licensee in receivership or order a licensee to revoke the designation of an authorized delegate if: (1) the licensee violates the Uniform Money Services Act or a rule adopted or an order issued pursuant to that act; (2) th…

A. The director may issue an order suspending or revoking the designation of an authorized delegate if the director finds that: (1) the authorized delegate violated the Uniform Money Services Act or a rule adopted or an order issued pursuant to that act; (2) the authorized delega…