A. To the extent specified by the director by regulation, order or written request, each bank holding company that directly or indirectly controls a New Mexico state bank or a New Mexico bank holding company, or the home state regulator of the company, shall submit to the director copies of each financial report filed by the company with any bank supervisory agency within fifteen days after the report is filed with the agency unless the report is one the disclosure of which is prohibited by federal or state law.
B. To the extent disclosure is permitted by state or federal law, a bank holding company that controls a New Mexico state bank or a New Mexico bank holding company, or the home state regulator of the controlling bank holding company, shall provide the director copies of any reports of examination of that bank holding company or of the New Mexico bank holding company.
C. The director may examine a New Mexico bank holding company whenever the director has reason to believe that the company is not being operated in compliance with the laws of this state or in accordance with safe and sound banking practices. The provisions of Section 58-1-46 NMSA 1978 shall apply to the examination.
History: Laws 1996, ch. 2, ยง 8.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 1B - Interstate Bank Acquisitions
Section 58-1B-1 - Short title.
Section 58-1B-2 - Definitions.
Section 58-1B-3 - Purpose and intent of act.
Section 58-1B-4 - Permitted acquisitions.
Section 58-1B-5 - Required application; forms.
Section 58-1B-6 - Standards for approval.
Section 58-1B-7 - Procedures relating to applications.
Section 58-1B-8 - Reports; examinations.
Section 58-1B-9 - Agency activities.
Section 58-1B-10 - Authority to issue regulations; cooperative agreements; fees.