Please note that there has been a revision made to the LAW®553-NM(4P)12/20 contract as well as the LAW®553-NM-ARB12/20. The new form numbers are LAW®553-NM(4P)10/24 and LAW®553-NM-ARB10/24.
As a result of user requests and to continually update and increase acceptance of our LAW 553 contracts, we made the following changes to our 553 contracts in New Mexico:
New programming will be required for the new revision. The standard and ARB versions will not line up the same as each other for programming purposes.
Inventory for the new product will be available by August 9, 2024. Dealers should begin using the new contract on October 1, 2024.
The Bankers Systems® brand Motor Vehicle Retail Installment Sale Contracts are NOT impacted by the above changes and therefore will NOT be revised.