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§ 58-22-21-1 — New Mexico Law | CourtGPT
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  4. Chapter 58 - Financial Institutions and Regulations/
  5. Article 22 - Escrow Companies/
  6. § 58-22-21-1
New Mexico Legal Code

§ 58-22-21-1

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An escrow agent, in any action brought against a party to the escrow to recover trust funds disbursed by the escrow agent to or for the benefit of the party, or in reliance upon a check or draft issued by the party which is subsequently dishonored by the drawee, may recover, in addition to the amount so disbursed, a reasonable amount as attorney's fees and costs. Pending litigation, an escrow agent may retain possession of all escrowed documents until directed otherwise by a court of competent jurisdiction. History: 1978 Comp., § 58-22-21.1, enacted by Laws 1985, ch. 219, § 1.