Upon the acceptance of the appointment of receiver or liquidator aforesaid by said corporation, the possession of and title to all the assets, business and property of such banking institution of every kind and nature shall pass to and vest in said corporation and without the execution of any instruments of conveyance, assignment, transfer or endorsement.
History: Laws 1935, ch. 16, § 7; 1941 Comp., § 50-1107; 1953 Comp., § 48-11-7.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 763 to 769.
9 C.J.S. Banks and Banking § 651.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 2 - Insurance of Bank Deposits
Section 58-2-1 - ["Banking institution" defined.]
Section 58-2-2 - [Acceptance of federal laws.]
Section 58-2-3 - [Liquidation of banks by federal deposit insurance corporation.]
Section 58-2-4 - [Subrogation of federal corporation.]
Section 58-2-5 - Exchange of information.
Section 58-2-6 - Loans by and sale of assets to federal corporation.
Section 58-2-7 - [Federal corporation as receiver or liquidator; possession of and title to assets.]