A. A credit union shall maintain a well-capitalized status as determined by the director.
B. A credit union shall set aside and maintain such reserves as may be required by the insurer of its share accounts and deposit accounts.
History: Laws 2003, ch. 28, § 14.
Effective dates. — Laws 2003, ch. 28, contains no effective date provision, but, pursuant to N.M. Const., art IV, § 23, is effective on June 20, 2003, 90 days after adjournment of the legislature.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Section 58-11-1 - Short title.
Section 58-11-2 - Definitions.
Section 58-11-3 - Supervision and regulation.
Section 58-11-4 - Appeal rights and court review.
Section 58-11-5 - Examinations; supervision fees.
Section 58-11-8 - Records of the division.
Section 58-11-9 - Conflicts of interest.
Section 58-11-10 - Formation of credit union.
Section 58-11-11 - Forms of articles and bylaws.
Section 58-11-12 - Amendments.
Section 58-11-13 - Use of name exclusive.
Section 58-11-14 - Service facilities.
Section 58-11-15 - Fiscal year.
Section 58-11-17 - Doing business outside this state.
Section 58-11-18 - Powers of credit unions.
Section 58-11-19 - Incidental powers.
Section 58-11-20 - Advantageous federal powers.
Section 58-11-21 - Membership.
Section 58-11-22 - Central credit unions.
Section 58-11-23 - Other credit unions.
Section 58-11-24 - Member eligibility.
Section 58-11-25 - Liability of members.
Section 58-11-26 - Meetings of members.
Section 58-11-27 - Direction of affairs.
Section 58-11-28 - Record of officials.
Section 58-11-30 - Compensation of officials.
Section 58-11-31 - Conflicts of interest.
Section 58-11-32.2 - Repealed.
Section 58-11-33 - Authority and responsibility of board members.
Section 58-11-35 - Meetings of board members.
Section 58-11-36 - Duties of board members.
Section 58-11-38 - Supervisory committee.
Section 58-11-39 - Members' accounts.
Section 58-11-40 - Dividends and interest.
Section 58-11-41 - Withdrawals.
Section 58-11-42 - Accounts of minors.
Section 58-11-43 - Joint accounts.
Section 58-11-44 - Trust accounts.
Section 58-11-45 - Payable-on-death accounts.
Section 58-11-47 - Dormant accounts.
Section 58-11-48 - Share and deposit insurance.
Section 58-11-49 - Loan policies.
Section 58-11-50 - Insurance for members.
Section 58-11-51 - Liability and fidelity insurance for officials and employees.
Section 58-11-52 - Group purchasing.
Section 58-11-53 - Money-type instruments.
Section 58-11-54 - Retirement accounts.
Section 58-11-55 - Trust authority.
Section 58-11-56 - Investments.
Section 58-11-57.1 - Capitalization and reserves.
Section 58-11-58 - Dissolution.
Section 58-11-59 - Merger of credit unions.
Section 58-11-60 - Conversion.
Section 58-11-62 - Criminal liability.