Until July 1, 1992, no out-of-state depository institution or out-of-state holding company may form a new depository institution in New Mexico. After July 1, 1992, an out-of-state depository institution or out-of-state holding company may form a new depository institution in New Mexico, provided that the new depository institution has a minimum capital stock structure of at least seven million five hundred thousand dollars ($7,500,000), inclusive of common capital and surplus and undivided profits.
History: Laws 1988, ch. 5, ยง 6.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 26 - Interstate Depository Institutions
Section 58-26-1 - Short title.
Section 58-26-2 - Purpose of act.
Section 58-26-3 - Definitions.
Section 58-26-4 - Interstate acquisitions permitted.
Section 58-26-5 - Interstate acquisitions; notice.