A. An out-of-state state bank with branches in New Mexico authorized pursuant to the Interstate Bank Branching Act may conduct any activities at its branches that are authorized pursuant to the laws of this state for New Mexico state banks.
B. A New Mexico state bank may conduct any activities at any branch outside New Mexico that are permissible for a bank chartered by the host state where the branch is located.
C. An out-of-state bank that has acquired branches in New Mexico under the Interstate Bank Branching Act may establish or acquire additional branches in New Mexico to the same extent that any New Mexico bank may establish or acquire a branch in New Mexico pursuant to applicable federal and state law.
History: Laws 1996, ch. 2, ยง 22.
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.