N.M. Admin. Code § 17.10.2.10 - BUDGET BILLING PLANS
A.
A dealer should offer reasonable budget billing plans to its residential
customers. The offer of budget billing plans shall not be unreasonably
withheld.
B. Budget billing plans
shall be binding contracts under New Mexico law and shall be in writing. The
pricing and time period language shall be printed in no less than 12-point
boldface type of uniform font.
C.
Budget billing plans may include a requirement for a deposit sufficient to
ensure full payment to the dealer.
D. A budget billing plan shall provide that
if a credit remains at the end of the budget billing plan term, that credit,
including any deposit, shall be reimbursed to the residential customer not
later than thirty (30) days after the end date of the plan, unless the dealer
and residential customer agree otherwise.
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