New Mexico 2025 Regular Session

New Mexico House Bill HB59 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	underscored material = new
2	2	[bracketed material] = delete
3	3	1
4	4	2
5	5	3
6	6	4
7	7	5
8	8	6
9	9	7
10	10	8
11	11	9
12	12	10
13	13	11
14	14	12
15	15	13
16	16	14
17	17	15
18	18	16
19	19	17
20	20	18
21	21	19
22	22	20
23	23	21
24	24	22
25	25	23
26	26	24
27	27	25
28	28	HOUSE BILL 59
29	29	57
30	30	TH LEGISLATURE
31	31	-
32	32
33	33	STATE
34	34
35	35	OF
36	36
37	37	NEW
38	38
39	39	MEXICO
40	40
41	41	-
42	42	FIRST SESSION
43	43	,
44	44
45	45	2025
46	46	INTRODUCED BY
47	47	Tara L. Lujan
48	48	AN ACT
49	49	RELATING TO WAGE ACCESS; ENACTING THE EARNED WAGE ACCESS
50	50	SERVICES ACT; PROVIDING POWERS AND DUTIES OF THE FINANCIAL
51	51	INSTITUTIONS DIVISION OF THE REGULATION AND LICENSING
52	52	DEPARTMENT; PROVIDING FOR LICENSURE OF EARNED WAGE ACCESS
53	53	SERVICES PROVIDERS; PROVIDING FOR DENIAL, SUSPENSION OR
54	54	REVOCATION OF LICENSES; PROVIDING FOR HEARINGS AND APPEALS;
55	55	REQUIRING EXAMINATIONS AND INVESTIGATIONS; SETTING CONDITIONS
56	56	AND RESTRICTIONS; PROVIDING EXEMPTIONS FROM THE ACT; GRANTING
57	57	EXCLUSIVE JURISDICTION TO THE STATE; REQUIRING ANNUAL REPORTS;
58	58	PRESCRIBING A PENALTY.
59	59	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
60	60	SECTION 1. A new Section 58-34-1 NMSA 1978 is enacted to
61	61	read:
62	62	"58-34-1. [NEW MATERIAL ] SHORT TITLE.--Chapter 58,
63	63	.228925.1 underscored material = new
64	64	[bracketed material] = delete
65	65	1
66	66	2
67	67	3
68	68	4
69	69	5
70	70	6
71	71	7
72	72	8
73	73	9
74	74	10
75	75	11
76	76	12
77	77	13
78	78	14
79	79	15
80	80	16
81	81	17
82	82	18
83	83	19
84	84	20
85	85	21
86	86	22
87	87	23
88	88	24
89	89	25
90	90	Article 34 NMSA 1978 may be cited as the "Earned Wage Access
91	91	Services Act"."
92	92	SECTION 2. A new Section 58-34-2 NMSA 1978 is enacted to
93	93	read:
94	94	"58-34-2. [NEW MATERIAL ] DEFINITIONS.--As used in the
95	95	Earned Wage Access Services Act:
96	96	A. "applicant" means a person who applies for a
97	97	license;
98	98	B. "consumer" means a person who resides in New
99	99	Mexico;
100	100	C. "consumer-directed wage access services" means
101	101	delivering to a consumer access to earned but unpaid income
102	102	that is based on the consumer's representations and the
103	103	provider's reasonable determination of the worker's earned but
104	104	unpaid income;
105	105	D. "division" means the financial institutions
106	106	division of the regulation and licensing department;
107	107	E. "director" means the director of the division;
108	108	F. "earned but unpaid income" means salary, wages,
109	109	compensation or other income that a consumer or an employer has
110	110	represented, and a provider has reasonably determined, has been
111	111	earned or accrued to the benefit of the consumer in exchange
112	112	for the consumer's provision of services to the employer or on
113	113	behalf of the employer, including on an hourly, project-based,
114	114	piecework or other basis and including circumstances in which
115	115	.228925.1
116	116	- 2 - underscored material = new
117	117	[bracketed material] = delete
118	118	1
119	119	2
120	120	3
121	121	4
122	122	5
123	123	6
124	124	7
125	125	8
126	126	9
127	127	10
128	128	11
129	129	12
130	130	13
131	131	14
132	132	15
133	133	16
134	134	17
135	135	18
136	136	19
137	137	20
138	138	21
139	139	22
140	140	23
141	141	24
142	142	25
143	143	the consumer is acting as an independent contractor of the
144	144	employer but has not, at the time of the payment of proceeds,
145	145	been paid to the consumer by the employer;
146	146	G. "earned wage access services" means providing
147	147	consumer-directed wage access services or employer-integrated
148	148	wage access services or both;
149	149	H. "employer" means a person who employs a consumer
150	150	or is contractually obligated to pay a consumer earned but
151	151	unpaid income in exchange for the consumer's provision of
152	152	services to the employer or on behalf of the employer,
153	153	including on an hourly, project-based, piecework or other basis
154	154	and including circumstances in which the consumer is acting as
155	155	an independent contractor with respect to the employer;
156	156	I. "employer" does not mean a customer of an
157	157	employer or any other person whose obligation to make a payment
158	158	of salary, wages, compensation or other income to a consumer is
159	159	not based on the provision of services by that consumer for or
160	160	on behalf of the person;
161	161	J. "employer-integrated wage access services" means
162	162	delivering access to an advance of earned but unpaid income to
163	163	a consumer that is based on employment, income or attendance
164	164	data obtained directly or indirectly from an employer or an
165	165	employer's payroll service provider;
166	166	K. "fee" means:
167	167	(1) a fee imposed by a provider for delivery
168	168	.228925.1
169	169	- 3 - underscored material = new
170	170	[bracketed material] = delete
171	171	1
172	172	2
173	173	3
174	174	4
175	175	5
176	176	6
177	177	7
178	178	8
179	179	9
180	180	10
181	181	11
182	182	12
183	183	13
184	184	14
185	185	15
186	186	16
187	187	17
188	188	18
189	189	19
190	190	20
191	191	21
192	192	22
193	193	23
194	194	24
195	195	25
196	196	or expedited delivery of proceeds to a consumer; or
197	197	(2) a subscription or membership fee imposed
198	198	by a provider for a bona fide group of services that include
199	199	earned wage access services;
200	200	L. "fee" does not include a voluntary tip, gratuity
201	201	or other donation;
202	202	M. "license" means a permit issued under the
203	203	authority of the Earned Wage Access Services Act to engage in
204	204	business as an earned wage access services provider and collect
205	205	charges therefor strictly in accordance with the provisions of
206	206	that act. It shall constitute and shall be construed as a
207	207	grant of a revocable privilege only to be held and enjoyed
208	208	subject to all the conditions, restrictions and limitations
209	209	contained in that act and lawful rules promulgated by the
210	210	director and not otherwise;
211	211	N. "licensee" means a person to whom one or more
212	212	licenses have been issued pursuant to the Earned Wage Access
213	213	Services Act upon the person's written application electing to
214	214	become a licensee and consenting to exercise the privilege of a
215	215	licensee solely in conformity with that act and the lawful
216	216	rules promulgated by the director under that act and whose name
217	217	appears on the face of the license;
218	218	O. "outstanding proceeds" means proceeds remitted
219	219	to a consumer by a provider that have not yet been repaid to
220	220	the provider;
221	221	.228925.1
222	222	- 4 - underscored material = new
223	223	[bracketed material] = delete
224	224	1
225	225	2
226	226	3
227	227	4
228	228	5
229	229	6
230	230	7
231	231	8
232	232	9
233	233	10
234	234	11
235	235	12
236	236	13
237	237	14
238	238	15
239	239	16
240	240	17
241	241	18
242	242	19
243	243	20
244	244	21
245	245	22
246	246	23
247	247	24
248	248	25
249	249	P. "person" means an individual, copartner,
250	250	association, trust, corporation and any other legal entity;
251	251	Q. "proceeds" means a payment to a consumer by a
252	252	provider that is based on earned but unpaid income; and
253	253	R. "provider" or "earned wage access services
254	254	provider" means a person that is in the business of providing
255	255	earned wage access services to consumers; provided that
256	256	"provider" or "earned wage access services provider" does not
257	257	include:
258	258	(1) a service provider, such as a payroll
259	259	service provider, whose role may include verifying the
260	260	available earnings but is not contractually obligated to fund
261	261	any proceeds delivered as part of an earned wage access
262	262	service; or
263	263	(2) an employer that offers a portion of
264	264	salary, wages or compensation directly to its employees or
265	265	independent contractors before the normally scheduled pay
266	266	date."
267	267	SECTION 3. A new Section 58-34-3 NMSA 1978 is enacted to
268	268	read:
269	269	"58-34-3. [NEW MATERIAL ] EARNED WAGE ACCESS SERVICES
270	270	PROVIDER--LICENSE REQUIRED--EXCEPTIONS.--
271	271	A. A person shall not engage in business as a
272	272	provider in this state without first having obtained a license
273	273	from the division.
274	274	.228925.1
275	275	- 5 - underscored material = new
276	276	[bracketed material] = delete
277	277	1
278	278	2
279	279	3
280	280	4
281	281	5
282	282	6
283	283	7
284	284	8
285	285	9
286	286	10
287	287	11
288	288	12
289	289	13
290	290	14
291	291	15
292	292	16
293	293	17
294	294	18
295	295	19
296	296	20
297	297	21
298	298	22
299	299	23
300	300	24
301	301	25
302	302	B. A banking corporation, savings and loan
303	303	association or credit union operating under the laws of the
304	304	United States or of a state is exempt from the licensing
305	305	requirements of the Earned Wage Access Services Act.
306	306	C. Earned wage access services offered and provided
307	307	by a licensee under the provisions of the Earned Wage Access
308	308	Services Act shall not be considered:
309	309	(1) in violation of or noncompliance with laws
310	310	governing deductions from wages or the purchase, sale or
311	311	assignment of, or an order for, earned but unpaid income;
312	312	(2) a loan or other form of credit or debt,
313	313	nor shall the provider be considered a creditor, debt collector
314	314	or lender with respect thereto; or
315	315	(3) money transmission, nor shall the provider
316	316	be considered a money transmitter with respect thereto."
317	317	SECTION 4. A new Section 58-34-4 NMSA 1978 is enacted to
318	318	read:
319	319	"58-34-4. [NEW MATERIAL ] PROVIDER LICENSE--APPLICATION
320	320	FOR ORIGINAL LICENSE--DIVISION POWERS AND DUTIES.--
321	321	A. Application for an original license shall be in
322	322	a form and manner prescribed by the division and shall include:
323	323	(1) the address of the applicant's principal
324	324	place of business within or without New Mexico and whether the
325	325	business will be conducted online or in-person;
326	326	(2) if applicable, the physical location and
327	327	.228925.1
328	328	- 6 - underscored material = new
329	329	[bracketed material] = delete
330	330	1
331	331	2
332	332	3
333	333	4
334	334	5
335	335	6
336	336	7
337	337	8
338	338	9
339	339	10
340	340	11
341	341	12
342	342	13
343	343	14
344	344	15
345	345	16
346	346	17
347	347	18
348	348	19
349	349	20
350	350	21
351	351	22
352	352	23
353	353	24
354	354	25
355	355	mailing address where the business is to be conducted in New
356	356	Mexico;
357	357	(3) identification of all parties in interest
358	358	and the names and addresses of all partners, officers and
359	359	directors as this will provide the basis for an investigation
360	360	and findings required by the provisions of this section;
361	361	(4) the name of a New Mexico resident who
362	362	serves as the provider's agent for service of process; provided
363	363	that if the provider's agent changes, the provider shall notify
364	364	the division within five working days of the change; and
365	365	(5) such other relevant information as the
366	366	division requires.
367	367	B. An application fee for original licensure shall
368	368	be submitted with the application.
369	369	C. Upon the filing of an application, the division
370	370	shall investigate the facts concerning the application and the
371	371	requirements of the Earned Wage Access Services Act. The
372	372	division may request additional information that is relevant or
373	373	helpful in conducting the application investigation. Upon
374	374	service of a written notice of a request for additional
375	375	information, the applicant has twenty days to provide the
376	376	information unless the division grants a request for a time
377	377	extension. The applicant shall furnish in writing, under oath,
378	378	to the director all additional information required by the
379	379	director that may be relevant or, in the opinion of the
380	380	.228925.1
381	381	- 7 - underscored material = new
382	382	[bracketed material] = delete
383	383	1
384	384	2
385	385	3
386	386	4
387	387	5
388	388	6
389	389	7
390	390	8
391	391	9
392	392	10
393	393	11
394	394	12
395	395	13
396	396	14
397	397	15
398	398	16
399	399	17
400	400	18
401	401	19
402	402	20
403	403	21
404	404	22
405	405	23
406	406	24
407	407	25
408	408	director, helpful in conducting the investigation.
409	409	D. Failure to comply with the division's
410	410	requirement for supplemental information or the willful
411	411	furnishing of false information is sufficient grounds for
412	412	denial of a license.
413	413	E. The division shall grant or deny each
414	414	application for an original license within sixty days from the
415	415	filing of the application with the required information and
416	416	fees, unless the period is extended by written agreement
417	417	between the applicant and the director.
418	418	F. After investigation, the division shall grant a
419	419	license if it finds that:
420	420	(1) the financial responsibility, character
421	421	and general fitness of the applicant for an original license,
422	422	including the individual members and beneficiaries of the
423	423	license if the applicant is a copartnership, association or
424	424	trust and including the individual officers and directors of
425	425	the applicant if the applicant is a corporation, are such as to
426	426	command the confidence of the public and to warrant belief that
427	427	the business will be operated lawfully, honestly, fairly and
428	428	efficiently within the declared purposes and spirit of the
429	429	Earned Wage Access Services Act;
430	430	(2) allowing the applicant to engage in
431	431	business promotes the convenience and advantage of the
432	432	community in which the business of the applicant is to be
433	433	.228925.1
434	434	- 8 - underscored material = new
435	435	[bracketed material] = delete
436	436	1
437	437	2
438	438	3
439	439	4
440	440	5
441	441	6
442	442	7
443	443	8
444	444	9
445	445	10
446	446	11
447	447	12
448	448	13
449	449	14
450	450	15
451	451	16
452	452	17
453	453	18
454	454	19
455	455	20
456	456	21
457	457	22
458	458	23
459	459	24
460	460	25
461	461	conducted; and
462	462	(3) the applicant has available for operation
463	463	of the business cash or its equivalent in convertible
464	464	securities or receivables of thirty thousand dollars ($30,000)
465	465	or any combination of securities and receivables.
466	466	G. If the division does not make the findings
467	467	enumerated in Subsection F of this section, the division shall
468	468	deny the application, notify the applicant of the denial and
469	469	retain the application fee. Within thirty days after the
470	470	denial of licensure, the division shall prepare written
471	471	investigatory findings as to the reason for denying the license
472	472	and deliver a copy to the applicant. If licensure is denied,
473	473	the applicant may request a hearing as provided in the Uniform
474	474	Licensing Act.
475	475	H. The denial of a license after a hearing is a
476	476	final agency action and may be appealed as provided by Section
477	477	39-3-1.1 NMSA 1978."
478	478	SECTION 5. A new Section 58-34-5 NMSA 1978 is enacted to
479	479	read:
480	480	"58-34-5. [NEW MATERIAL ] LICENSE INFORMATION.--
481	481	A. Each license issued pursuant to the Earned Wage
482	482	Access Services Act is an annual license that expires on July 1
483	483	following the issuance of the license unless renewed upon
484	484	application or suspended or revoked or unless the provider
485	485	surrenders the license when closing a location or provider's
486	486	.228925.1
487	487	- 9 - underscored material = new
488	488	[bracketed material] = delete
489	489	1
490	490	2
491	491	3
492	492	4
493	493	5
494	494	6
495	495	7
496	496	8
497	497	9
498	498	10
499	499	11
500	500	12
501	501	13
502	502	14
503	503	15
504	504	16
505	505	17
506	506	18
507	507	19
508	508	20
509	509	21
510	510	22
511	511	23
512	512	24
513	513	25
514	514	business.
515	515	B. Each license shall state:
516	516	(1) fully the name of the provider if an
517	517	individual; the name, date and place of incorporation if a
518	518	corporation or similar organization; and the names of all
519	519	copartners and all members and beneficiaries if a
520	520	copartnership, trust, association or similar organization; and
521	521	any trade name approved by the division under which the
522	522	provider is conducting business;
523	523	(2) whether the provider's business is
524	524	conducted online, in-person or a combination of online and in-
525	525	person; and
526	526	(3) the address of the provider's principal
527	527	place of business within or without New Mexico and each
528	528	physical location in New Mexico.
529	529	C. The license shall be conspicuously posted in the
530	530	provider's principal place of business and all other locations
531	531	of the business in New Mexico.
532	532	D. If a provider changes its principal place of
533	533	business or business location in New Mexico, it shall give
534	534	written notice of the change to the division within fifteen
535	535	days of the change.
536	536	E. Except as a stockholder in a corporation
537	537	licensed as a provider, a person whose name does not
538	538	specifically appear on the face of the license shall not have
539	539	.228925.1
540	540	- 10 - underscored material = new
541	541	[bracketed material] = delete
542	542	1
543	543	2
544	544	3
545	545	4
546	546	5
547	547	6
548	548	7
549	549	8
550	550	9
551	551	10
552	552	11
553	553	12
554	554	13
555	555	14
556	556	15
557	557	16
558	558	17
559	559	18
560	560	19
561	561	20
562	562	21
563	563	22
564	564	23
565	565	24
566	566	25
567	567	or hold any interest, direct or indirect, in any license or
568	568	provider and shall not be deemed a licensee or a provider.
569	569	F. Every provider shall maintain at all times cash
570	570	or its equivalent, convertible securities or receivables, or
571	571	any combination of these, of at least thirty thousand dollars
572	572	($30,000)."
573	573	SECTION 6. A new Section 58-34-6 NMSA 1978 is enacted to
574	574	read:
575	575	"58-34-6. [NEW MATERIAL ] LICENSE RENEWAL--DENIAL--
576	576	HEARING.--
577	577	A. A written application for license renewal shall
578	578	be filed with the division on or before April 1 of each year
579	579	for the annual renewal date of July 1. The application shall
580	580	be in a form and manner required by the division.
581	581	B. The division shall investigate the facts and
582	582	review the files of examinations of the provider made by the
583	583	division and complaints filed by consumers or other persons, if
584	584	any. The division shall issue a renewal license to the
585	585	provider if the division finds that:
586	586	(1) no valid complaints of violations or
587	587	abuses of the Earned Wage Access Services Act or of rules
588	588	promulgated in accordance with that act have been filed by
589	589	consumers or other persons;
590	590	(2) examinations, if any, of the affairs of
591	591	the provider indicate that the business has been conducted and
592	592	.228925.1
593	593	- 11 - underscored material = new
594	594	[bracketed material] = delete
595	595	1
596	596	2
597	597	3
598	598	4
599	599	5
600	600	6
601	601	7
602	602	8
603	603	9
604	604	10
605	605	11
606	606	12
607	607	13
608	608	14
609	609	15
610	610	16
611	611	17
612	612	18
613	613	19
614	614	20
615	615	21
616	616	22
617	617	23
618	618	24
619	619	25
620	620	operated lawfully and efficiently within the declared purposes
621	621	and spirit of that act; and
622	622	(3) the financial responsibility, experience
623	623	and general fitness and character of the provider remain such
624	624	as to command the confidence of the public and to warrant the
625	625	belief that the business will continue to be operated lawfully
626	626	and efficiently within the purposes and spirit of that act.
627	627	C. If the division finds that the provider does not
628	628	meet the qualifications for a renewal license enumerated in
629	629	Subsection A of this section and other provisions of the Earned
630	630	Wage Access Services Act, the director may grant a temporary
631	631	extension of the license not exceeding sixty days pending a
632	632	hearing. The division shall set a date for hearing on the
633	633	license renewal and shall notify the provider. The notice
634	634	shall specify the particular complaints, violations or abuses
635	635	or other reasons for the division's contemplated refusal to
636	636	renew the license.
637	637	D. At the hearing, the attorney or other agent of
638	638	the division shall produce evidence to establish the truth of
639	639	the charges in complaints of violations, abuses or other
640	640	grounds specified in the notice, and the provider shall be
641	641	accorded the right to produce evidence or other matters of
642	642	defense. If, after the hearing, the director finds that the
643	643	complaints of violations, abuses or other grounds specified in
644	644	the notice are not well-founded, the division shall issue the
645	645	.228925.1
646	646	- 12 - underscored material = new
647	647	[bracketed material] = delete
648	648	1
649	649	2
650	650	3
651	651	4
652	652	5
653	653	6
654	654	7
655	655	8
656	656	9
657	657	10
658	658	11
659	659	12
660	660	13
661	661	14
662	662	15
663	663	16
664	664	17
665	665	18
666	666	19
667	667	20
668	668	21
669	669	22
670	670	23
671	671	24
672	672	25
673	673	renewal license. If the director finds that the complaints of
674	674	violations, abuses or other grounds are well-founded, the
675	675	director shall deny the renewal application, notify the
676	676	provider of the denial and return the renewal fee tendered with
677	677	the application. Within thirty days after the denial of
678	678	renewal, the division shall prepare written findings and shall
679	679	deliver a copy of the findings to the provider. The denial of
680	680	renewal is a final agency action and may be appealed as
681	681	provided by Section 39-3-1.1 NMSA 1978. The court in its
682	682	discretion and upon proper showing may order a temporary
683	683	extension of the license pending disposition of the appeal."
684	684	SECTION 7. A new Section 58-34-7 NMSA 1978 is enacted to
685	685	read:
686	686	"58-34-7. [NEW MATERIAL ] LICENSE SUSPENSION OR
687	687	REVOCATION.--
688	688	A. The division may suspend or revoke a license for
689	689	cause. Prior to suspension or revocation, the division shall
690	690	give written notice by registered mail that states in general
691	691	the grounds for suspension or revocation and the time and place
692	692	of a public hearing, which shall be held not less than fifteen
693	693	days after the returned receipt of mail delivery. The hearing
694	694	shall be conducted in the same manner as hearings for license
695	695	denial.
696	696	B. After a hearing, the division shall suspend or
697	697	revoke a license if the director finds that:
698	698	.228925.1
699	699	- 13 - underscored material = new
700	700	[bracketed material] = delete
701	701	1
702	702	2
703	703	3
704	704	4
705	705	5
706	706	6
707	707	7
708	708	8
709	709	9
710	710	10
711	711	11
712	712	12
713	713	13
714	714	14
715	715	15
716	716	16
717	717	17
718	718	18
719	719	19
720	720	20
721	721	21
722	722	22
723	723	23
724	724	24
725	725	25
726	726	(1) the provider has violated a provision of
727	727	the Earned Wage Access Services Act or a rule promulgated in
728	728	accordance with that act, either knowingly or without the
729	729	exercise of due care to prevent a violation; or
730	730	(2) facts or conditions existed at the time of
731	731	the proposed suspension or revocation that, if they had existed
732	732	at the time of the original application or renewal of the
733	733	license, clearly would have justified the director in refusing
734	734	originally to issue the license or later to renew the license.
735	735	C. The division may suspend a license during a
736	736	revocation case if the director finds that, based on
737	737	preliminary evidence, suspension of the license is necessary to
738	738	protect the interests of consumers and the public. Upon notice
739	739	of the division's contemplated action to suspend the license,
740	740	the provider may request a hearing within three days after
741	741	notice has been received by registered mail. If the director
742	742	finds that probable cause for revocation of a license exists
743	743	and that enforcement of the Earned Wage Access Services Act
744	744	requires immediate suspension of the license pending
745	745	investigation, the director may, upon three days' notice by
746	746	registered mail and a hearing, suspend the license. Suspension
747	747	of a license pursuant to this subsection shall not exceed
748	748	thirty days.
749	749	D. Whenever the director suspends or revokes a
750	750	license issued pursuant to the Earned Wage Access Services Act,
751	751	.228925.1
752	752	- 14 - underscored material = new
753	753	[bracketed material] = delete
754	754	1
755	755	2
756	756	3
757	757	4
758	758	5
759	759	6
760	760	7
761	761	8
762	762	9
763	763	10
764	764	11
765	765	12
766	766	13
767	767	14
768	768	15
769	769	16
770	770	17
771	771	18
772	772	19
773	773	20
774	774	21
775	775	22
776	776	23
777	777	24
778	778	25
779	779	the director shall enter an order to that effect and
780	780	immediately notify the licensee in writing by registered mail
781	781	of the suspension or revocation, which notice shall state the
782	782	grounds for the action.
783	783	E. A provider shall surrender a license by
784	784	delivering it to the director with written notice of its
785	785	surrender, but such surrender shall not affect any civil or
786	786	criminal liability for acts committed prior to surrender.
787	787	F. Suspension or revocation of a license shall not
788	788	impair or affect the obligation of a preexisting lawful
789	789	contract between the provider and an obligor.
790	790	G. The division may reinstate a suspended license
791	791	or issue a new license to the provider whose license has been
792	792	revoked if facts or conditions that existed at the time of
793	793	suspension or revocation have been corrected.
794	794	H. False or misleading information willfully and
795	795	intentionally furnished to the division prior to the issuance
796	796	of a renewal license is grounds for denial of renewal or
797	797	suspension or revocation of a license."
798	798	SECTION 8. A new Section 58-34-8 NMSA 1978 is enacted to
799	799	read:
800	800	"58-34-8. [NEW MATERIAL ] SERVICE OF NOTICE.--When in the
801	801	Earned Wage Access Services Act provision is made for service
802	802	of notice by registered mail, such service is deemed complete
803	803	upon receipt of the notice by the intended recipient. For the
804	804	.228925.1
805	805	- 15 - underscored material = new
806	806	[bracketed material] = delete
807	807	1
808	808	2
809	809	3
810	810	4
811	811	5
812	812	6
813	813	7
814	814	8
815	815	9
816	816	10
817	817	11
818	818	12
819	819	13
820	820	14
821	821	15
822	822	16
823	823	17
824	824	18
825	825	19
826	826	20
827	827	21
828	828	22
829	829	23
830	830	24
831	831	25
832	832	purposes of this section, mailing of notice shall be addressed
833	833	to the person designated as the agent for service of process or
834	834	the manager or person in charge of the licensed office, if
835	835	applicable."
836	836	SECTION 9. A new Section 58-34-9 NMSA 1978 is enacted to
837	837	read:
838	838	"58-34-9. [NEW MATERIAL ] FEES.--The following fees shall
839	839	be collected and deposited into the division's suspense account
840	840	as provided in Section 9-16-14 NMSA 1978:
841	841	A. application fee, not to exceed one thousand
842	842	dollars ($1,000);
843	843	B. original and annual renewal license fee, not to
844	844	exceed five hundred dollars ($500);
845	845	C. late renewal fee, ten dollars ($10.00) per day
846	846	for each day the provider fails to file the license renewal
847	847	application; and
848	848	D. annual examination fee, not to exceed two
849	849	hundred dollars ($200)."
850	850	SECTION 10. A new Section 58-34-10 NMSA 1978 is enacted
851	851	to read:
852	852	"58-34-10. [NEW MATERIAL ] INVESTIGATIONS--EXAMINATION OF
853	853	BOOKS, RECORDS AND OTHER INFORMATION--ENTRY TO PREMISES.--
854	854	A. To discover violations of the Earned Wage Access
855	855	Services Act or to secure information lawfully required under
856	856	that act, the division may investigate the provider's business
857	857	.228925.1
858	858	- 16 - underscored material = new
859	859	[bracketed material] = delete
860	860	1
861	861	2
862	862	3
863	863	4
864	864	5
865	865	6
866	866	7
867	867	8
868	868	9
869	869	10
870	870	11
871	871	12
872	872	13
873	873	14
874	874	15
875	875	16
876	876	17
877	877	18
878	878	19
879	879	20
880	880	21
881	881	22
882	882	23
883	883	24
884	884	25
885	885	and may examine the books, papers, records, accounts, written
886	886	instruments and documents used in the business and including
887	887	income tax returns or other reports filed with the taxation and
888	888	revenue department of:
889	889	(1) a provider;
890	890	(2) a person participating in the provider's
891	891	business as principal, agent, broker or otherwise; and
892	892	(3) a person whom the division has reasonable
893	893	cause to believe is violating a provision of the Earned Wage
894	894	Access Services Act, whether the person claims to be within the
895	895	authority or beyond the scope of that act.
896	896	B. To facilitate examinations and investigations by
897	897	the division and fully disclose the operations and methods of
898	898	operation of each provider's conduct in New Mexico, the
899	899	provider shall keep on file as part of the records of the
900	900	provider all office manuals, communications or directives
901	901	containing statements of earned wage access services policies
902	902	to managers and employees.
903	903	C. The division shall be given free access to the
904	904	transactions, books, papers, records, accounts, written
905	905	instruments and documents of the provider insofar as they
906	906	pertain to the business licensed pursuant to the Earned Wage
907	907	Access Services Act and has authority to require the attendance
908	908	of any person and to examine the person under oath relative to
909	909	earned wage access services or to the subject matter of any
910	910	.228925.1
911	911	- 17 - underscored material = new
912	912	[bracketed material] = delete
913	913	1
914	914	2
915	915	3
916	916	4
917	917	5
918	918	6
919	919	7
920	920	8
921	921	9
922	922	10
923	923	11
924	924	12
925	925	13
926	926	14
927	927	15
928	928	16
929	929	17
930	930	18
931	931	19
932	932	20
933	933	21
934	934	22
935	935	23
936	936	24
937	937	25
938	938	examination, investigation or hearing as provided in that act.
939	939	Notices to appear before the director for examination under
940	940	oath may be served by registered mail. If the party notified
941	941	to appear is the provider, any person named on the face of the
942	942	license being investigated or an agent, employee or manager of
943	943	the provider or person and the party fails to appear for
944	944	examination or refuses to answer questions submitted, the
945	945	director may, forthwith and without further notice to the
946	946	provider, suspend the license involved pending compliance with
947	947	the notice. Upon failure of another person to appear or to
948	948	answer questions, the director may apply to the district court
949	949	to compel the attendance and testimony of the person and the
950	950	production of books, papers, records, accounts, written
951	951	instruments and documents relating to the business of the
952	952	licensee. The district court may punish the person for
953	953	contempt of court in a case of refusal to obey an order of the
954	954	district court issued to compel the attendance of the person or
955	955	the production of books, papers, records, accounts, written
956	956	instruments and documents.
957	957	D. Within a reasonable time after the completion of
958	958	an examination of a provider, the division shall mail to the
959	959	provider a copy of the report of the examination, together with
960	960	any comments, exceptions, objections or criticisms concerning
961	961	the conduct of the provider.
962	962	E. For the purposes of this section, a person who
963	963	.228925.1
964	964	- 18 - underscored material = new
965	965	[bracketed material] = delete
966	966	1
967	967	2
968	968	3
969	969	4
970	970	5
971	971	6
972	972	7
973	973	8
974	974	9
975	975	10
976	976	11
977	977	12
978	978	13
979	979	14
980	980	15
981	981	16
982	982	17
983	983	18
984	984	19
985	985	20
986	986	21
987	987	22
988	988	23
989	989	24
990	990	25
991	991	advertises, solicits or makes any representation as being
992	992	willing to engage in business as a provider, except persons or
993	993	financial institutions expressly excluded from the definition
994	994	of a provider pursuant to Section 58-34-2 NMSA 1978 or
995	995	expressly exempted pursuant to Section 58-34-3 NMSA 1978, is
996	996	presumed to be engaged in the business of a provider and shall
997	997	be subject to investigation pursuant to this section.
998	998	F. The division shall prescribe rules of procedure
999	999	for all hearings, examinations or investigations provided for
1000	1000	in the Earned Wage Access Services Act. The division is not
1001	1001	bound by the usual common law or statutory rules of evidence or
1002	1002	by any technical or formal rules of procedure or pleading and
1003	1003	specification of charges other than as specifically provided in
1004	1004	the Earned Wage Access Services Act but may conduct hearings,
1005	1005	examinations and investigations in the manner best calculated
1006	1006	to ascertain the substantial rights of interested parties.
1007	1007	G. The division has the power to administer oaths,
1008	1008	certify official acts and records of the division, issue
1009	1009	subpoenas for witnesses in the name of and under the seal of
1010	1010	the division and compel the production of papers, books,
1011	1011	accounts, records, written instruments and documents. The
1012	1012	division shall issue subpoenas at the instance of a party to a
1013	1013	hearing before the division upon payment of a fee of two
1014	1014	dollars fifty cents ($2.50) for each subpoena so issued.
1015	1015	H. Depositions may be taken with or without a
1016	1016	.228925.1
1017	1017	- 19 - underscored material = new
1018	1018	[bracketed material] = delete
1019	1019	1
1020	1020	2
1021	1021	3
1022	1022	4
1023	1023	5
1024	1024	6
1025	1025	7
1026	1026	8
1027	1027	9
1028	1028	10
1029	1029	11
1030	1030	12
1031	1031	13
1032	1032	14
1033	1033	15
1034	1034	16
1035	1035	17
1036	1036	18
1037	1037	19
1038	1038	20
1039	1039	21
1040	1040	22
1041	1041	23
1042	1042	24
1043	1043	25
1044	1044	commission, and written interrogatories may be submitted in the
1045	1045	same manner and on the same grounds provided by law for the
1046	1046	taking of depositions or submission of written interrogatories
1047	1047	in civil actions pending in the district courts.
1048	1048	I. Each witness who appears before the division by
1049	1049	the director's order shall receive the fees and mileage
1050	1050	provided for witnesses in civil actions in the district court.
1051	1051	Fees and mileage shall be paid by the state, but no witness
1052	1052	subpoenaed at the instance of parties other than the director
1053	1053	is entitled to compensation from the state for attendance or
1054	1054	mileage unless the director certifies that the witness's
1055	1055	testimony is material.
1056	1056	J. Whenever the division has reasonable cause to
1057	1057	believe that a person is violating a provision of the Earned
1058	1058	Wage Access Services Act, the director may, in addition to all
1059	1059	other actions provided for in that act and without prejudice,
1060	1060	enter an order requiring the person to desist or to refrain
1061	1061	from the violation. An action may be brought on the relation
1062	1062	of the attorney general and the division to enjoin the person
1063	1063	from engaging in or continuing the violation or from doing any
1064	1064	act in furtherance of the violation. In such action, an order
1065	1065	or judgment may be entered awarding a preliminary or final
1066	1066	injunction as may be deemed proper. In addition to all other
1067	1067	means provided by law for the enforcement of a temporary
1068	1068	restraining order, temporary injunction or final injunction,
1069	1069	.228925.1
1070	1070	- 20 - underscored material = new
1071	1071	[bracketed material] = delete
1072	1072	1
1073	1073	2
1074	1074	3
1075	1075	4
1076	1076	5
1077	1077	6
1078	1078	7
1079	1079	8
1080	1080	9
1081	1081	10
1082	1082	11
1083	1083	12
1084	1084	13
1085	1085	14
1086	1086	15
1087	1087	16
1088	1088	17
1089	1089	18
1090	1090	19
1091	1091	20
1092	1092	21
1093	1093	22
1094	1094	23
1095	1095	24
1096	1096	25
1097	1097	the court in which such action is brought shall have power and
1098	1098	jurisdiction to impound and to appoint a receiver for the
1099	1099	property and business of the defendants, including books,
1100	1100	papers, accounts, records, written instruments and documents
1101	1101	pertaining to the property and business or so much as the court
1102	1102	deems reasonably necessary to prevent further violations of
1103	1103	that act through or by means of the use of the property and
1104	1104	business. The receiver, when appointed and qualified, shall
1105	1105	have powers and duties as to custody, collection,
1106	1106	administration, winding up and liquidation of the property and
1107	1107	business as are from time to time conferred upon the receiver
1108	1108	by the court."
1109	1109	SECTION 11. A new Section 58-34-11 NMSA 1978 is enacted
1110	1110	to read:
1111	1111	"58-34-11. [NEW MATERIAL ] RECORDS RETENTION.--
1112	1112	A. Each provider shall keep and use in the business
1113	1113	such books, accounts and records in accordance with sound
1114	1114	accounting practices that enable the division to determine
1115	1115	whether the provider is complying with the provisions of the
1116	1116	Earned Wage Access Services Act and with the rules promulgated
1117	1117	in accordance with that act and orders of the director. Each
1118	1118	provider shall preserve the books, accounts and records for at
1119	1119	least two years after making the final entry on an earned wage
1120	1120	access service transaction.
1121	1121	B. At the time a license is in effect, the division
1122	1122	.228925.1
1123	1123	- 21 - underscored material = new
1124	1124	[bracketed material] = delete
1125	1125	1
1126	1126	2
1127	1127	3
1128	1128	4
1129	1129	5
1130	1130	6
1131	1131	7
1132	1132	8
1133	1133	9
1134	1134	10
1135	1135	11
1136	1136	12
1137	1137	13
1138	1138	14
1139	1139	15
1140	1140	16
1141	1141	17
1142	1142	18
1143	1143	19
1144	1144	20
1145	1145	21
1146	1146	22
1147	1147	23
1148	1148	24
1149	1149	25
1150	1150	may, upon written notice, require a provider to furnish within
1151	1151	twenty days in writing, and under oath if so specified by any
1152	1152	written notice issued and served by the director upon the
1153	1153	provider, additional information as to ownership; operations;
1154	1154	books, papers, accounts, records, written instruments and
1155	1155	documents; and affiliation or relationship with any other
1156	1156	person as may be helpful in the discharge of the division's
1157	1157	duties.
1158	1158	C. False or misleading information willfully
1159	1159	furnished to the director by a provider in an annual report or
1160	1160	pursuant to a notice or requirement of the director is
1161	1161	sufficient grounds for suspension and revocation of the
1162	1162	provider's license."
1163	1163	SECTION 12. A new Section 58-34-12 NMSA 1978 is enacted
1164	1164	to read:
1165	1165	"58-34-12. [NEW MATERIAL ] PROVIDER DUTIES--TIPS,
1166	1166	GRATUITIES OR OTHER DONATIONS.--
1167	1167	A. A provider shall do all of the following:
1168	1168	(1) develop and implement policies and
1169	1169	procedures to respond to questions raised by consumers and
1170	1170	address complaints from consumers in an expedient manner;
1171	1171	(2) when offering a consumer the option to
1172	1172	receive proceeds for a fee, offer to the consumer at least one
1173	1173	reasonable option to obtain proceeds at no cost to the consumer
1174	1174	and clearly explain how to elect that no-cost option;
1175	1175	.228925.1
1176	1176	- 22 - underscored material = new
1177	1177	[bracketed material] = delete
1178	1178	1
1179	1179	2
1180	1180	3
1181	1181	4
1182	1182	5
1183	1183	6
1184	1184	7
1185	1185	8
1186	1186	9
1187	1187	10
1188	1188	11
1189	1189	12
1190	1190	13
1191	1191	14
1192	1192	15
1193	1193	16
1194	1194	17
1195	1195	18
1196	1196	19
1197	1197	20
1198	1198	21
1199	1199	22
1200	1200	23
1201	1201	24
1202	1202	25
1203	1203	(3) before entering into an agreement with a
1204	1204	consumer for the provision of earned wage access services, do
1205	1205	all of the following:
1206	1206	(a) inform the consumer of the
1207	1207	consumer's rights under the agreement; and
1208	1208	(b) fully and clearly disclose all fees
1209	1209	associated with the earned wage access services;
1210	1210	(4) inform the consumer of any material
1211	1211	changes to the terms and conditions of the earned wage access
1212	1212	services before implementing those changes for that consumer;
1213	1213	(5) allow the consumer to cancel use of the
1214	1214	provider's earned wage access services at any time, without
1215	1215	incurring a cancellation fee imposed by the provider;
1216	1216	(6) comply with all applicable federal, state
1217	1217	and local privacy and information security laws or ordinances;
1218	1218	(7) if a provider solicits, charges or
1219	1219	receives a tip, gratuity or other donation from a consumer, the
1220	1220	provider shall do all of the following:
1221	1221	(a) clearly and conspicuously disclose
1222	1222	to the consumer immediately prior to each transaction that a
1223	1223	tip, gratuity or other donation amount may be zero and is
1224	1224	voluntary; and
1225	1225	(b) clearly and conspicuously disclose
1226	1226	in its service contract with the consumer and elsewhere that
1227	1227	tips, gratuities or donations are voluntary and that the
1228	1228	.228925.1
1229	1229	- 23 - underscored material = new
1230	1230	[bracketed material] = delete
1231	1231	1
1232	1232	2
1233	1233	3
1234	1234	4
1235	1235	5
1236	1236	6
1237	1237	7
1238	1238	8
1239	1239	9
1240	1240	10
1241	1241	11
1242	1242	12
1243	1243	13
1244	1244	14
1245	1245	15
1246	1246	16
1247	1247	17
1248	1248	18
1249	1249	19
1250	1250	20
1251	1251	21
1252	1252	22
1253	1253	23
1254	1254	24
1255	1255	25
1256	1256	offering of earned wage access services, including the amount
1257	1257	of proceeds a consumer is eligible to request and the frequency
1258	1258	with which proceeds are provided to a consumer, is not
1259	1259	contingent on whether the consumer pays any tip, gratuity or
1260	1260	donation or on the size of the tip, gratuity or donation;
1261	1261	(8) provide proceeds to a consumer by the
1262	1262	means mutually agreed upon by the consumer and the provider;
1263	1263	and
1264	1264	(9) if the provider will seek repayment of
1265	1265	outstanding proceeds or payment of fees or other amounts owed,
1266	1266	including voluntary tips, gratuities or donations from a
1267	1267	consumer's account at a depository institution, including by
1268	1268	means of electronic fund transfer, the provider shall do all of
1269	1269	the following:
1270	1270	(a) comply with applicable provisions of
1271	1271	the federal Electronic Fund Transfer Act and regulations
1272	1272	promulgated pursuant to that act; and
1273	1273	(b) reimburse the consumer for the full
1274	1274	amount of an overdraft or nonsufficient funds fees imposed on a
1275	1275	consumer by the consumer's depository institution that were
1276	1276	caused by the provider attempting to seek payment of
1277	1277	outstanding proceeds, fees or other payments, including
1278	1278	voluntary tips, gratuities or other donations, on a date
1279	1279	before, or in an incorrect amount from, the date or amount
1280	1280	disclosed to the consumer; provided, however, the provider is
1281	1281	.228925.1
1282	1282	- 24 - underscored material = new
1283	1283	[bracketed material] = delete
1284	1284	1
1285	1285	2
1286	1286	3
1287	1287	4
1288	1288	5
1289	1289	6
1290	1290	7
1291	1291	8
1292	1292	9
1293	1293	10
1294	1294	11
1295	1295	12
1296	1296	13
1297	1297	14
1298	1298	15
1299	1299	16
1300	1300	17
1301	1301	18
1302	1302	19
1303	1303	20
1304	1304	21
1305	1305	22
1306	1306	23
1307	1307	24
1308	1308	25
1309	1309	not subject to the requirements of this paragraph with respect
1310	1310	to payments of outstanding proceeds or fees incurred by a
1311	1311	consumer through fraudulent or other unlawful means.
1312	1312	B. A provider shall not do any of the following:
1313	1313	(1) share with an employer a portion of any
1314	1314	fees, voluntary tips, gratuities or other donations that were
1315	1315	received from or charged to a consumer for earned wage access
1316	1316	services;
1317	1317	(2) require a consumer's credit report or a
1318	1318	credit score provided or issued by a consumer reporting agency
1319	1319	to determine a consumer's eligibility for earned wage access
1320	1320	services;
1321	1321	(3) accept payment of outstanding proceeds,
1322	1322	fees, voluntary tips, gratuities or other donations from a
1323	1323	consumer by means of a credit card or charge card;
1324	1324	(4) charge a consumer a late fee, deferral
1325	1325	fee, interest or any other penalty or charge for failure to pay
1326	1326	outstanding proceeds, fees, voluntary tips, gratuities or other
1327	1327	donations;
1328	1328	(5) report to a consumer reporting agency or
1329	1329	debt collector any information about the consumer regarding the
1330	1330	inability of the provider to be repaid outstanding proceeds,
1331	1331	fees, voluntary tips, gratuities or other donations;
1332	1332	(6) compel or attempt to compel payment by a
1333	1333	consumer of outstanding proceeds, fees, voluntary tips,
1334	1334	.228925.1
1335	1335	- 25 - underscored material = new
1336	1336	[bracketed material] = delete
1337	1337	1
1338	1338	2
1339	1339	3
1340	1340	4
1341	1341	5
1342	1342	6
1343	1343	7
1344	1344	8
1345	1345	9
1346	1346	10
1347	1347	11
1348	1348	12
1349	1349	13
1350	1350	14
1351	1351	15
1352	1352	16
1353	1353	17
1354	1354	18
1355	1355	19
1356	1356	20
1357	1357	21
1358	1358	22
1359	1359	23
1360	1360	24
1361	1361	25
1362	1362	gratuities or other donations to the provider through any of
1363	1363	the following means:
1364	1364	(a) a suit against the consumer in a
1365	1365	court of competent jurisdiction;
1366	1366	(b) use of a third party to pursue
1367	1367	collection from the consumer on the provider's behalf; and
1368	1368	(c) sale of outstanding proceeds, fees,
1369	1369	voluntary tips, gratuities or other donations to a third-party
1370	1370	collector or debt buyer for collection from a consumer;
1371	1371	(7) if the provider solicits, charges or
1372	1372	receives tips, gratuities or other donations from a consumer,
1373	1373	mislead or deceive a consumer about the voluntary nature of the
1374	1374	tips, gratuities or other donations or represent that they will
1375	1375	benefit any specific persons or group of persons; and
1376	1376	(8) charge and receive a fee in excess of
1377	1377	seven dollars fifty cents ($7.50) per transaction in connection
1378	1378	with a fee described in Subsection K of Section 58-34-2 NMSA
1379	1379	1978.
1380	1380	C. The limitations set forth in Paragraph (6) of
1381	1381	Subsection B of this section do not preclude the use by a
1382	1382	provider of any of the methods specified in that paragraph to
1383	1383	compel payment of outstanding proceeds or fees incurred by a
1384	1384	consumer through fraudulent or other unlawful means, nor do
1385	1385	they preclude a provider from pursuing an employer for breach
1386	1386	of its contractual obligations to the provider.
1387	1387	.228925.1
1388	1388	- 26 - underscored material = new
1389	1389	[bracketed material] = delete
1390	1390	1
1391	1391	2
1392	1392	3
1393	1393	4
1394	1394	5
1395	1395	6
1396	1396	7
1397	1397	8
1398	1398	9
1399	1399	10
1400	1400	11
1401	1401	12
1402	1402	13
1403	1403	14
1404	1404	15
1405	1405	16
1406	1406	17
1407	1407	18
1408	1408	19
1409	1409	20
1410	1410	21
1411	1411	22
1412	1412	23
1413	1413	24
1414	1414	25
1415	1415	D. A provider may use the mailing address or state
1416	1416	of residence provided to the provider by a person to determine
1417	1417	the person's state of residence for purposes of the Earned Wage
1418	1418	Access Services Act."
1419	1419	SECTION 13. A new Section 58-34-13 NMSA 1978 is enacted
1420	1420	to read:
1421	1421	"58-34-13. [NEW MATERIAL ] ANNUAL REPORTS.--
1422	1422	A. Providers shall file with the division each year
1423	1423	reports containing at least the following information for the
1424	1424	preceding calendar year ending March 31 in an aggregated,
1425	1425	nonidentifying consumer manner as specified below:
1426	1426	(1) gross revenue attributable to its earned
1427	1427	wage access services;
1428	1428	(2) the total number of transactions in which
1429	1429	the provider provided proceeds to consumers;
1430	1430	(3) the total number of unique consumers to
1431	1431	whom the provider provided proceeds;
1432	1432	(4) the total dollar amount of proceeds the
1433	1433	provider provided to consumers;
1434	1434	(5) the total dollar amount of fees, voluntary
1435	1435	tips, gratuities or other donations the provider received from
1436	1436	consumers; and
1437	1437	(6) any other information the division
1438	1438	reasonably requires.
1439	1439	B. The reports shall be submitted to the division
1440	1440	.228925.1
1441	1441	- 27 - underscored material = new
1442	1442	[bracketed material] = delete
1443	1443	1
1444	1444	2
1445	1445	3
1446	1446	4
1447	1447	5
1448	1448	6
1449	1449	7
1450	1450	8
1451	1451	9
1452	1452	10
1453	1453	11
1454	1454	12
1455	1455	13
1456	1456	14
1457	1457	15
1458	1458	16
1459	1459	17
1460	1460	18
1461	1461	19
1462	1462	20
1463	1463	21
1464	1464	22
1465	1465	23
1466	1466	24
1467	1467	25
1468	1468	on or before March 31 each year.
1469	1469	C. The reports shall be accompanied by a sworn
1470	1470	statement by the provider under penalty of perjury that the
1471	1471	report is complete and accurate.
1472	1472	D. A provider that fails to timely submit complete
1473	1473	and accurate reports on or before March 31 may:
1474	1474	(1) be fined an amount not to exceed one
1475	1475	hundred dollars ($100) per day for each day after March 31 that
1476	1476	a complete and accurate report is not filed; and
1477	1477	(2) have a license suspended pursuant to
1478	1478	Section 58-34-7 NMSA 1978."
1479	1479	SECTION 14. A new Section 58-34-14 NMSA 1978 is enacted
1480	1480	to read:
1481	1481	"58-34-14. [NEW MATERIAL ] LIST OF PROVIDERS--
1482	1482	COMPLAINTS--DIVISION ANNUAL REPORTS--PUBLICATION.--
1483	1483	A. The division shall:
1484	1484	(1) maintain a list of providers, which list
1485	1485	shall be available to interested persons and the public; and
1486	1486	(2) establish a complaint process whereby an
1487	1487	aggrieved consumer or other person may file a complaint against
1488	1488	a provider.
1489	1489	B. The division shall compile from reports filed by
1490	1490	providers an annual report by July 1 of each year containing
1491	1491	data regarding earned wage access services conducted by
1492	1492	providers, which data shall be aggregated for all providers and
1493	1493	.228925.1
1494	1494	- 28 - underscored material = new
1495	1495	[bracketed material] = delete
1496	1496	1
1497	1497	2
1498	1498	3
1499	1499	4
1500	1500	5
1501	1501	6
1502	1502	7
1503	1503	8
1504	1504	9
1505	1505	10
1506	1506	11
1507	1507	12
1508	1508	13
1509	1509	14
1510	1510	15
1511	1511	16
1512	1512	17
1513	1513	18
1514	1514	19
1515	1515	20
1516	1516	21
1517	1517	22
1518	1518	23
1519	1519	24
1520	1520	25
1521	1521	nonidentifiable by provider. Annual reports issued by the
1522	1522	division shall be transmitted to the governor and the
1523	1523	legislature and shall be published on the division's website.
1524	1524	Written copies of the annual reports shall be made available
1525	1525	upon request. Consistent with state law, the report shall
1526	1526	include, at a minimum, nonidentifying aggregated consumer data
1527	1527	from the preceding calendar year, including each of the
1528	1528	specific categories of information set forth in Subsection A of
1529	1529	Section 58-34-12 NMSA 1978."
1530	1530	SECTION 15. A new Section 58-34-15 NMSA 1978 is enacted
1531	1531	to read:
1532	1532	"58-34-15. [NEW MATERIAL ] EXCLUSIVE JURISDICTION OF
1533	1533	STATE.--The state has exclusive jurisdiction and authority
1534	1534	regarding the Earned Wage Access Services Act and providers.
1535	1535	Political subdivisions of the state are preempted from any
1536	1536	regulation of earned wage access services providers by
1537	1537	ordinance, resolution or otherwise."
1538	1538	SECTION 16. A new Section 58-34-16 NMSA 1978 is enacted
1539	1539	to read:
1540	1540	"58-34-16. [NEW MATERIAL ] RULES AND ORDERS.--
1541	1541	A. The division has authority to make reasonable
1542	1542	rules or orders for the administration and enforcement of the
1543	1543	Earned Wage Access Services Act.
1544	1544	B. On application of a person and payment of the
1545	1545	cost, the division shall furnish, under the division's seal and
1546	1546	.228925.1
1547	1547	- 29 - underscored material = new
1548	1548	[bracketed material] = delete
1549	1549	1
1550	1550	2
1551	1551	3
1552	1552	4
1553	1553	5
1554	1554	6
1555	1555	7
1556	1556	8
1557	1557	9
1558	1558	10
1559	1559	11
1560	1560	12
1561	1561	13
1562	1562	14
1563	1563	15
1564	1564	16
1565	1565	17
1566	1566	18
1567	1567	19
1568	1568	20
1569	1569	21
1570	1570	22
1571	1571	23
1572	1572	24
1573	1573	25
1574	1574	signed by the director or the director's authorized
1575	1575	representative, a certified copy of a license, rule or order.
1576	1576	In a court or proceeding, the copy shall be prima facie
1577	1577	evidence of the fact of the issuance of a license, rule or
1578	1578	order."
1579	1579	SECTION 17. A new Section 58-34-17 NMSA 1978 is enacted
1580	1580	to read:
1581	1581	"58-34-17. [NEW MATERIAL ] ADVERTISING--FALSE CLAIMS--
1582	1582	REFERRAL TO STATE SUPERVISION.--A provider or other person
1583	1583	subject to the Earned Wage Access Services Act shall not
1584	1584	advertise, display, distribute or broadcast or cause or permit
1585	1585	to be advertised, displayed, distributed or broadcast in any
1586	1586	manner whatsoever a false, misleading or deceptive statement or
1587	1587	representation with regard to its earned wage access services.
1588	1588	The division may allow or require providers to refer in their
1589	1589	advertising to the fact that their business is under state
1590	1590	supervision, subject to conditions imposed by the division to
1591	1591	prevent erroneous impressions as to the scope or degree of
1592	1592	protection provided by the Earned Wage Access Services Act."
1593	1593	SECTION 18. A new Section 58-34-18 NMSA 1978 is enacted
1594	1594	to read:
1595	1595	"58-34-18. [NEW MATERIAL ] BUSINESS UNDER APPROVED
1596	1596	NAME.--A provider shall not conduct earned wage access services
1597	1597	as provided by the Earned Wage Access Services Act under any
1598	1598	name other than the name approved by the division and stated on
1599	1599	.228925.1
1600	1600	- 30 - underscored material = new
1601	1601	[bracketed material] = delete
1602	1602	1
1603	1603	2
1604	1604	3
1605	1605	4
1606	1606	5
1607	1607	6
1608	1608	7
1609	1609	8
1610	1610	9
1611	1611	10
1612	1612	11
1613	1613	12
1614	1614	13
1615	1615	14
1616	1616	15
1617	1617	16
1618	1618	17
1619	1619	18
1620	1620	19
1621	1621	20
1622	1622	21
1623	1623	22
1624	1624	23
1625	1625	24
1626	1626	25
1627	1627	the license."
1628	1628	SECTION 19. A new Section 58-34-19 NMSA 1978 is enacted
1629	1629	to read:
1630	1630	"58-34-19. [NEW MATERIAL ] FINAL ACTIONS APPEALABLE TO
1631	1631	DISTRICT COURT.--A provider or other person aggrieved by a
1632	1632	final action of the division pursuant to the Earned Wage Access
1633	1633	Services Act may file an appeal in the district court as
1634	1634	provided by Section 39-3-1.1 NMSA 1978."
1635	1635	SECTION 20. A new Section 58-34-20 NMSA 1978 is enacted
1636	1636	to read:
1637	1637	"58-34-20. [NEW MATERIAL ] CONTRACTS NOT AFFECTED BY ACT
1638	1638	AMENDMENT OR REPEAL.--If the Earned Wage Access Services Act or
1639	1639	any part of that act is amended or repealed so as to effect a
1640	1640	cancellation or alteration of a license or right of a provider,
1641	1641	such amendment or repeal shall not impair or affect the
1642	1642	obligation of any preexisting lawful contract between a
1643	1643	provider and a consumer."
1644	1644	SECTION 21. A new Section 58-34-21 NMSA 1978 is enacted
1645	1645	to read:
1646	1646	"58-34-21. [NEW MATERIAL ] DIVISION RECORDS.--The
1647	1647	division shall keep a detailed record of all fees, expenses and
1648	1648	costs collected by the division and a detailed record of all
1649	1649	expenses and disbursements of the division in the
1650	1650	administration of the Earned Wage Access Services Act and rules
1651	1651	promulgated in accordance with that act."
1652	1652	.228925.1
1653	1653	- 31 - underscored material = new
1654	1654	[bracketed material] = delete
1655	1655	1
1656	1656	2
1657	1657	3
1658	1658	4
1659	1659	5
1660	1660	6
1661	1661	7
1662	1662	8
1663	1663	9
1664	1664	10
1665	1665	11
1666	1666	12
1667	1667	13
1668	1668	14
1669	1669	15
1670	1670	16
1671	1671	17
1672	1672	18
1673	1673	19
1674	1674	20
1675	1675	21
1676	1676	22
1677	1677	23
1678	1678	24
1679	1679	25
1680	1680	SECTION 22. A new Section 58-34-22 NMSA 1978 is enacted
1681	1681	to read:
1682	1682	"58-34-22. [NEW MATERIAL ] VIOLATIONS OF ACT--PENALTY.--
1683	1683	A provider and the several members, beneficiaries, officers,
1684	1684	directors, agents and employees of a provider who violate or
1685	1685	participate in the violation of any provision of the Earned
1686	1686	Wage Access Services Act are guilty of a petty misdemeanor
1687	1687	violation and upon conviction shall be punished by a fine of
1688	1688	not less than five hundred dollars ($500) or more than one
1689	1689	thousand dollars ($1,000)."
1690	1690	SECTION 23. APPLICABILITY.--The provisions of this act
1691	1691	apply to earned wage access service providers issued licenses
1692	1692	on or after October 15, 2025.
1693	1693	- 32 -
1694	1694	.228925.1