An out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a New Mexico state bank shall notify the director of the proposed merger no later than the date on which it files an application for an interstate merger transaction with the responsible federal bank supervisory agency. The out-of-state bank shall submit a copy of that application to the director and pay a fee in an amount that the director shall prescribe by regulation. Any New Mexico state bank that is a party to the interstate merger transaction shall comply with all applicable state and federal laws.
History: Laws 1996, ch. 2, ยง 20.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 1C - Interstate Bank Branching
Section 58-1C-1 - Short title.
Section 58-1C-3 - Definitions.
Section 58-1C-4 - Authority of state banks to establish interstate branches by merger.
Section 58-1C-5 - Interstate merger transactions and branching permitted.
Section 58-1C-6 - De novo branching and acquisition of individual branches not permitted.
Section 58-1C-7 - Notice and filing requirements.
Section 58-1C-8 - Condition for interstate merger prior to June 1, 1997.
Section 58-1C-9 - Powers; additional branches.
Section 58-1C-10 - Examinations; periodic reports; cooperative agreements; assessment of fees.
Section 58-1C-11 - Enforcement.
Section 58-1C-12 - Regulations.
Section 58-1C-13 - Notice of subsequent merger and other transactions.