Section 50-15-5 - Check cashing; notice of fees. - New Mexico Statutes

50-15-5. Check cashing; notice of fees.

A.     A check cashing service that is a day labor service agency or is operating within the office of a day labor service agency shall not charge a day laborer an amount in excess of two dollars ($2.00) for cashing a check or payment instrument that is issued by the agency.

B.     No fees may be charged for cashing a check or payment instrument unless the day laborer:

(1)     is given the option of being paid with a check or payment instrument that is payable without a fee at a local financial institution; and

(2)     voluntarily elects to cash the check or payment instrument at the day labor service agency or at a check cashing service operating within the office of the day labor service agency.

C.     A day labor service agency or a check cashing service that is a day labor service agency or is operating within the office of a day labor service agency shall post notices in the area where cashing of checks or payment instruments occurs.  The notices shall be clearly visible and easily readable and shall state the fee for cashing a check or payment instrument.  Notices shall be posted in English, Spanish and any other written language where a high percentage of the workers speak that language.  In areas where the day labor service agency employs Navajo workers and the check cashing service cashes checks of Navajo workers, notice shall be posted in Navajo.