Section 58-21A-8 - Subterfuge prohibited.
58-21A-8. Subterfuge prohibited.
No person shall, with the intent to avoid the application or provisions of the Home Loan Protection Act [58-21A-1 NMSA 1978]:
A. divide a loan transaction into separate parts;
B. structure a home loan transaction as an open-end loan when the loan would have been a high-cost home loan if the loan had been structured as a closed-end loan; or
C. perform any other subterfuge.