HOUSE BILL 1224

48th legislature - STATE OF NEW MEXICO - first session, 2007

INTRODUCED BY

Antonio "Moe" Maestas

AN ACT

RELATING TO SMALL LOANS; REQUIRING SHORT-TERM LENDERS TO PROVIDE INFORMATION ON FINANCIAL LITERACY COURSES TO CONSUMERS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. A new section of the New Mexico Small Loan Act of 1955 is enacted to read:

     "[NEW MATERIAL] FINANCIAL LITERACY COURSE INFORMATION.--All lenders subject to the New Mexico Small Loan Act of 1955 shall provide information on financial literacy courses to a consumer at the time a consumer enters a short-term loan agreement with the lender."

.167762.1