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NEW MEXICO STATUTES AND CODES
Section 65-2A-24 - Motor vehicle leases.
65-2A-24. Motor vehicle leases.
A. An intrastate motor carrier shall not lease a motor vehicle or operate a leased motor vehicle without approval of each motor vehicle lease from the commission. The commission may approve a motor vehicle lease without notice or a public hearing.
B. A motor carrier shall file a separate motor vehicle lease for each motor vehicle to be leased.
C. The commission shall not approve a proposed motor vehicle lease if it finds that the purpose of the motor vehicle lease is to circumvent a provision of the Motor Carrier Act [65-2A-1 NMSA 1978] or rule of the commission.
D. The commission shall by rule specify which of the two parties to a motor vehicle lease will be responsible for complying with the financial responsibility and safety requirements of the Motor Carrier Act and the rules of the commission.