New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 1 - Banking Generally

Section 58-1-8 - Payment from account when no executor or administrator has qualified. - A. Where no executor or administrator of a deceased depositor...

Section 58-1-9 - Transmitting money; foreign exchange. - A bank may accept money for transmission and may transmit...

Section 58-1-10 - Authority to engage in leasing safe deposit facilities; subsidiary company. - A. Subject to such regulations as the commissioner [director of...

Section 58-1-11 - Access by fiduciaries. - A. Where access to a safe deposit box is requested...

Section 58-1-12 - Effect of lessee's death or incapacity. - Where a lessor, without knowledge of the death or of...

Section 58-1-13 - Lease to minor. - A lessor may lease a safe deposit box to and...

Section 58-1-14 - Search procedure on death. - A. A lessor shall permit the person named in a...

Section 58-1-15 - Adverse claims to contents of safe deposit box. - A. An adverse claim to the contents of a safe...

Section 58-1-16 - Special remedies for nonpayment of rent. - A. If the rental due on a safe deposit box...

Section 58-1-17 - Qualification and fiduciary powers. - No state bank shall act as fiduciary unless it is...

Section 58-1-18 - Fiduciary bond or oath excused. - No oath or bond shall be required of a bank...

Section 58-1-19 - Identification and segregation of fiduciary assets; investment and deposit of cash. - A state bank holding any asset as a fiduciary shall:...

Section 58-1-20 - Reserves against deposits. - A. A state bank shall maintain such reserves against deposits...

Section 58-1-21 - Loans. - A. A state bank may lend on the security of...

Section 58-1-22 - Investments. - A. In addition to other investments expressly authorized by the...

Section 58-1-23 - Acceptances. - A. A bank may accept: (1) a draft which has...

Section 58-1-24 - Diversification of loans and investments. - A. A state bank shall not extend credit directly by...

Section 58-1-25 - Acquisition of property to satisfy or protect previous loan. - A state bank may take property of any kind to...

Section 58-1-26 - Acquisition of banking premises and equipment. - A. A state bank may acquire real estate and equipment...

Section 58-1-27 - Sale of assets in ordinary course. - A bank may sell any asset in the ordinary course...

Section 58-1-28 - Borrowing. - A state bank may borrow money and issue evidence of...

Section 58-1-29 - Issuance of capital debentures or notes. - A. After obtaining approval of the commissioner [director of the...

Section 58-1-30 - Pledge of assets. - A bank may pledge its assets to: A. enable it...

Section 58-1-31 - Endorsement and signature guaranty and unauthorized assumption of liability. - A. A state bank may assume secondary liability as an...

Section 58-1-32 - Director of the financial institutions division; appointment and qualifications; salary. - Upon the effective date of the Commerce and Industry Department...

Section 58-1-33 - Oath of secrecy; surety bonds. - The director and all officers and employees of the division...

Section 58-1-34 - Powers of director. - A. In addition to other powers conferred by law, the...

Section 58-1-35 - Employees [Examiners] and clerks; designation of deputy. - The commissioner [director of the financial institutions division of the...

Section 58-1-36 - Seal of the director. - The director shall have a seal of office containing the...

Section 58-1-37 - Office of the commissioner [director]; delegation of powers. - The commissioner [director of the financial institutions division of the...

Section 58-1-38 - Divulging information prohibited; exchange of information with United States; violation a misdemeanor. - Neither the commissioner [director of the financial institutions division of...

Section 58-1-39 - Bank records; prescribing manner of keeping. - A. The director has the power to require banks under...

Section 58-1-40 - Reports of condition; special reports; failure to make; penalty. - Every bank shall make and file with the director reports...

Section 58-1-41 - Supervision fees. - A. Each state bank shall annually pay to the director...

Section 58-1-41.1 - Trust department examination; fees. - At least once in each calendar year, the director of...

Section 58-1-41.2 - Additional examinations. - Whenever a bank is examined more than once in any...

Section 58-1-42 - Repealed. - Repeals. — Laws 1999, ch. 213, § 10 repeals 58-1-42...

Section 58-1-43 - Fees and penalties; disposition. - The director shall keep a record of all fees and...

Section 58-1-44 - Copies of reports and records; evidence; fees. - Copies of all reports and records concerning banks and banking...

Section 58-1-45 - Court review. - Any person aggrieved and directly affected by an order of...

Section 58-1-46 - Examinations and reports. - A. The director shall examine the condition of each state...

Section 58-1-47 - Commissioner's [Director's] annual report. - A. The commissioner [director of the financial institutions division of...

Section 58-1-48 - Records of division. - Information from the records of the division shall be revealed...

Section 58-1-49 - Banking interests of officers and employees of the department of banking [financial institutions division] - No officer or employee of the department [financial institutions division...

Section 58-1-50 - Limitation of personal liability. - No officer or employee of the department [financial institutions division...

Section 58-1-51 - Standards in regulations. - The commissioner [director of the financial institutions division of the...

Section 58-1-52 - Incorporators. - A state bank may be organized by five or more...

Section 58-1-53 - General corporate powers. - State banks shall have: A. all the powers provided and...

Section 58-1-54 - Powers of director and of state banks. - In addition to other powers provided for the director and...

Section 58-1-55 - Capital structure; impairment of capital. - A. A state bank shall have such capital structure as...

Section 58-1-56 - Notice of intention. - A. The organizers shall file with the director a notice...

Section 58-1-57 - Application for permission to file corporate papers. - A. After the capital structure has been fully subscribed, the...

Section 58-1-58 - Determination on application for permission to file with the corporation commission [public regulation commission] - A. When an application for permission to file with the...

Section 58-1-59 - Subscription calls. - A. Immediately after the filing of the articles of incorporation...

Section 58-1-63 - Repealed. - Repeals. — Laws 1991, ch. 12, § 3 repeals 58-1-63...

Section 58-1-64 - Meetings of stockholders; voting; proxies; voting trusts; preemptive right; transfer of stock; report of holdings. - A. Regular meetings of stockholders shall be held annually and...

Section 58-1-65 - Directors and officers. - A. The affairs of a state bank shall be managed...

Section 58-1-66 - Directors; meetings and duties. - A. The board of directors shall meet at least once...

Section 58-1-67 - Fidelity bonds and other insurance. - A. The directors of a state bank shall direct and...

Section 58-1-68 - Authority to declare dividends. - The board of directors of a state bank may declare...

Section 58-1-69 - Capital, surplus and undivided profits; accounting requirements. - A. No credit shall be entered in the undivided profits...

Section 58-1-70 - Deposit insurance; membership in federal reserve system. - A state bank shall obtain insurance of its deposits by...

Section 58-1-71 - Waivers; corporate action by unanimously signed writing. - When notice is required to be given to stockholders or...

Section 58-1-72 - Voluntary liquidation and dissolution. - A. A state bank may liquidate and dissolve with the...

Section 58-1-73 - Director in possession. - A. The director may take possession of a state bank...

Section 58-1-74 - Requirements of reorganization plan. - A. A plan of reorganization shall not be proposed under...

Section 58-1-75 - Liquidation by commissioner [director]. - A. In liquidating a state bank, the commissioner [director of...

Section 58-1-76 - Unauthorized conduct of banking business. - It is unlawful for any unauthorized person to engage in...

Section 58-1-77 - Receipt of deposits while insolvent. - It is unlawful for a bank to receive any deposit...

Section 58-1-78 - Unlawful service as officer or director. - It is unlawful for any person to serve as an...

Section 58-1-79 - Unlawful gratuity or compensation; transactions of persons connected with state bank. - A. It is unlawful for an affiliate of a bank...

Section 58-1-80 - Unlawful concealment of transaction. - It is unlawful for an officer, director, employee, attorney or...

Section 58-1-81 - Improper maintenance of accounts; false or deceptive entries and statements. - It is unlawful for an officer, director, employee or agent...

Section 58-1-82 - Reimbursement for fines and penalties. - A. It is unlawful for a state bank to pay...

Section 58-1-83 - Unlawful use of words "safe deposit.". - It is unlawful for any person to use the words...

Section 58-1-84 - Unlawful sanctions; violations of rules and orders. - A. Any person responsible for an act or omission expressly...

Section 58-1-85 - Injunction. - Whenever a violation of the Banking Act, by a bank...

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New Mexico Statutes Chapter 58 - Financial Institutions and Regulations Article 1 - Banking Generally

New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 1 - Banking Generally