Attorney General Opinions and Advisory Letters

Decision Information

Decision Content

Opinion No. 49-5270

December 28, 1949

BY: JOE L. MARTINEZ, Attorney General

TO: R. W. Heflin Securities Commissioner State Banking Department Santa Fe, New Mexico

{*116} I am in receipt of your letter requesting an official opinion of this office as to whether or not the Ace Finance Company, operating under People's Finance Company, are subjects to Section 50-1501 to 50-1513, N.M.S.A. 1941 Compilation, for their proposed issuance of the following:

For Value Received, No. 250


203 W. Copper Ave.

Albuquerque, N.M.

135 W. Griggs, Las Cruces, N.M.

Hereby promises to pay to the order of ___ the sum of ___ DOLLARS ($ ___) on ___. Ace Finance Co., Inc., agrees to pay to the holders of this note interest on the face amount at the rate of 6% per annum from the date hereof, quarterly, on each March first, June first, September first and December first until maturity.


Signed by ___

Vice President."

It is my opinion, after carefully examining the above provisions of the New Mexico Statutes, that the above quoted certificate comes within the purview of said Sections 50-1501 to 50-1513, and the Ace Finance Co. must comply with our laws before issuing the same.

 You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.