New Mexico Regulations § 1.10.13.15 LATE FILING OF REPORTS
Regulation Text
A.
If a reporting individual or person required to file a report pursuant to Section
1-19-27.3
NMSA 1978 fails to timely file a report in CFIS, or fails to file a report, a written notice will be sent by the secretary of state to the reporting individual or person required to file a report explaining the violation and the fine imposed.
B.
The reporting individual or person required to file a report is afforded 10 working days from the date of the written notice to file, if needed, and provide a written explanation within CFIS indicating why the violation occurred.
C.
If a timely explanation is provided and the report is filed within the timeframe provided by the notice, the secretary of state will make a determination whether good cause exists to fully or partially waive the fine.
D.
If the reporting individual or person required to file the report fails to provide a written response or fails to file a report within the timeframe provided by the notice, the secretary of state shall issue a notice of final action requiring the reporting individual or person required to file the report to file the late report, provide a written explanation of why the violation occurred, and pay the fine owed.
E.
Fines for late filing will accrue beginning the day after the filing deadline until the report is filed at the statutory rate of fifty dollars ($50) per day up to a maximum fine pursuant to Subsection H of Section
1-19-35
NMSA 1978 per report. Candidates required to file supplemental reports are subject to additional fines pursuant to Subsection C of Section
1-19-35
NMSA 1978.
F.
If a reporting individual or person required to file a report desires to come into voluntary compliance after a notice of final action has been issued but prior to a referral pursuant to Section
1-19-34.6
NMSA 1978, the secretary of state may, at the secretary of state's sole discretion, file a petition with the court requesting the court to waive fines for good cause.
G.
Failure to respond to the notice of final action shall result in a referral to the state ethics commission.
History
Adopted by
Explore Related Documents
This section contains links to related documents with the same tags to allow you quickly access other relevant legal materials. These links include document types and counts, enabling you to explore similar content efficiently.