N.M. Stat. § 58-13C-503
Evidentiary burden.
A. In a civil action or administrative proceeding pursuant to the New Mexico Uniform
Securities Act, a person claiming an exemption, exception, preemption or exclusion has
the burden to prove the applicability of the claim.
B. In a criminal proceeding pursuant to the New Mexico Uniform Securities Act, a
person claiming an exemption, exception, preemption or exclusion has the burden of
going forward with evidence of the claim.