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 and authorized delegates in New Mexico, one hundred thousand dollars ($100,000); and B. for five or more locations of the licensee and authorized delegates in New Mexico or for an internet-based money services business, five hundred thousand dollars ($500,000). History: Laws 2016, ch. 88, § 206. ANNOTATIONSEffective dates. — Laws 2016, ch. 88, § 1007 makes Laws 2016, ch. 88 effective January 1, 2017.
New Mexico Legal Code