New Mexico Statutes
Article 12 - Credit Union Share Insurance Corporations
Section 58-12-2 - Definitions.

As used in the Credit Union Share Insurance Corporation Act:
A. "corporation" means the credit union share insurance corporation of this state;
B. "board" means the board of directors of the corporation;
C. "commissioner" means the director of the financial institutions division;
D. "directors" means the directors of the corporation;
E. "member" means a credit union which has become a member of the corporation;
F. "delegate" means a person designated by a member's board of directors to represent the member in the organization and the operation of the corporation;
G. "fund" means the share insurance fund; and
H. "supervisory agency" means any state governmental agency statutorily responsible for the supervision and regulation of any member not chartered in the state of New Mexico.
History: 1953 Comp., § 48-19A-2, enacted by Laws 1973, ch. 114, § 2; 1977, ch. 245, § 17; 1979, ch. 95, § 1.
Compiler's notes. — The department of banking headed by a commissioner, was abolished by Laws 1977, ch. 245, § 4. Section 3 of that act established the commerce and industry department, which included a financial institutions division headed by a director. Section 120 of the act transferred to the director of the financial institutions division all powers and duties heretofore vested in the commissioner of banking. However, Laws 1983, ch. 297, § 33 abolished the commerce and industry department, and § 20 of that act created the regulation and licensing department with a financial institutions division. Laws 1983, ch. 297, § 31 transferred the personnel, etc., of the financial institutions division of the commerce and industry department to the financial institutions division of the regulation and licensing department. See 9-16-4 NMSA 1978.

Structure New Mexico Statutes