New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 24 - COLLECTION AGENCIES
Part 2 - COLLECTION AGENCY REGULATORY ACT
Section 12.24.2.7 - DEFINITIONS
Universal Citation: 12 NM Admin Code 12.24.2.7
Current through Register Vol. 35, No. 18, September 24, 2024
The term "liquid assets" as used in Section 9 of the Act is defined to mean cash or its equivalent, United States government obligations (direct or guaranteed), securities listed with a nationally recognized stock exchange and current (not more than 30 days overdue) accounts receivable from clients of the applicant.
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