NMSA 1978, § 7-14-8 — Imposition of penalty for failure to make timely application

A penalty of fifty percent of the tax is imposed on any person who is:

# A.

domiciled in this state and accepts transfer in this state, but fails to apply for a
certificate of title within ninety days of the date on which ownership of the vehicle was
transferred to the person; or

# B.

domiciled in this state but accepts transfer outside this state and fails to apply for
a certificate of title within ninety days of the date on which the vehicle is brought into this
state.