Used Merchandise

NMSA 1978 ch. 57, art. 9

in effect

NMSA 1978, § 57-9-1 Short title

57-9-1. Short title This act [57-9-1 to 57-9-3, 57-9-4, 57-9-5 NMSA 1978] may be cited as the "Used Merchandise Act". 1953 Comp., § 49-13-1, enacted by Laws 1967, ch. 155, § 1.

NMSA 1978, § 57-9-2 Definitions

57-9-2. Definitions As used in the Used Merchandise Act: A. "store" means any pawnshop, second hand store, junkshop, automobile salvage or wreckage establishment or any place of operation for dealing in or purchasing gold, silver or platinum, but does not include any shop or establishment insofar as it purchases or deals in paper products or used beverage containers, other than those made of gold, silver or platinum; and B. "identification" means a valid New Mexico driver's license, a federal social security card, a valid armed forces identification card, a federal census number, a valid medicare identification card, a valid passport or any valid juvenile identification card issued by a municipality of this state. 1953 Comp., § 49-13-2, enacted by Laws 1967, ch. 155, § 2; 1981, ch. 323, § 1.

NMSA 1978, § 57-9-3 Prohibited acts

57-9-3. Prohibited acts It is unlawful for the owner of any store, or the manager or employee thereof, to purchase or to loan money secured by any used merchandise, article or thing without first requiring identification from the seller or borrower and recording the name of the seller or borrower, his address and date of birth or social security number, a complete description of the merchandise, article or thing sold or loaned on the date of such transaction and the identification number and type of identification shown. 1953 Comp., § 49-13-3, enacted by Laws 1967, ch. 155, § 3; 1981, ch. 323, § 2.

NMSA 1978, § 57-9-3.1 Weighing devices

57-9-3.1. Weighing devices All devices used to weigh precious metals by an owner of a store shall have been inspected and approved for use by a weights and measures officer of this state within a period of twelve months immediately preceding the date of the weighing. 1978 Comp., § 57-9-3.1, enacted by Laws 1981, ch. 323, § 3.

NMSA 1978, § 57-9-3.2 Records

57-9-3.2. Records An owner of a store shall: A. keep a record in which he shall note the time of each transaction, a description of the goods purchased, the name and address of the person selling the goods and the date and hour the goods were received; and B. retain all gold, silver and platinum in the form in which purchased in his possession for a period of not less than five days. 1978 Comp., § 57-9-3.2, enacted by Laws 1981, ch. 323, § 4.

NMSA 1978, § 57-9-3.3 Receipts

57-9-3.3. Receipts The owner of a store shall issue a serialized receipt for each purchase or statement of appraisal of gold, silver or platinum which shall contain the following: A. the legal name and address of the store or appraiser; B. the name and address of the seller; C. the date of the transaction; D. the net weight in terms of pounds troy or avoirdupois, ounces troy or avoirdupois, pennyweight troy or avoirdupois or kilograms or grams; and E. the fineness of the precious metal in terms of karat for gold and sterling or coin for silver. The merchant shall retain copies of each receipt or statement of appraisal for not less than one year. 1978 Comp., § 57-9-3.3, enacted by Laws 1981, ch. 323, § 5.

NMSA 1978, § 57-9-4 Inspection of record

57-9-4. Inspection of record The record as provided in Section 3 [57-9-3 NMSA 1978] of the Used Merchandise Act shall be open to inspection of law enforcement officers of the county, municipality and state at all times. 1953 Comp., § 49-13-4, enacted by Laws 1967, ch. 155, § 4.

NMSA 1978, § 57-9-5 Penalty

57-9-5. Penalty A. The first violation of the Used Merchandise Act is a misdemeanor. B. Second and all subsequent violations of the Used Merchandise Act which occur after the date of conviction for the first offense are fourth degree felonies. 1953 Comp., § 49-13-5, enacted by Laws 1967, ch. 155, § 5; 1981, ch. 323, § 6.

Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18560/index.doFetched: 10/20/2026