reglab/housing_qa huggingface dataset:
NM Stat § 58-2-4 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 2 - Insurance of Bank Deposits|Section 58-2-4 - [Subrogation of federal corporation.]

Whenever any banking institutions shall have been closed as aforesaid, and said federal deposit insurance corporation shall pay or make available for payment the insured deposit liabilities of such closed institution, the corporation, whether or not it shall have become receiver or liquidator of such closed banking institutions, as herein provided, shall be subrogated to all rights against such closed banking institution of the owners of such deposits in the same manner and to the same extent as subrogation of the corporation is provided for in Subsection (1) of Section 12B of said Federal Reserve Act, as amended (being Section 8 of said "Banking Act of 1933") in the case of the closing of a national bank: provided, that the rights of depositors and other creditors of such closed institutions shall be determined in accordance with the applicable provisions of the laws of this state. History: Laws 1935, ch. 16, § 4; 1941 Comp., § 50-1104; 1953 Comp., § 48-11-4. ANNOTATIONSCompiler's notes. — Section 12B of the Federal Reserve Act, as amended, referred to in this section, relating to the federal deposit insurance corporations, was withdrawn from the Federal Reserve Act and made a separate act, known as the Federal Deposit Insurance Act by 64 Stat. 873, and now is compiled in the United States Code as 12 U.S.C. §§ 1811 to 1832. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 777. Liability of Federal Deposit Insurance Corporation for interest in respect of insured deposit, 153 A.L.R. 532. 9 C.J.S. Banks and Banking §§ 203, 209, 210, 405.
NM Stat § 58-2-5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 2 - Insurance of Bank Deposits|Section 58-2-5 - Exchange of information.

The director of the financial institutions division is authorized to accept in his discretion in lieu of any examination authorized by the laws of this state to be conducted by the division of a banking institution the examination that may have been made of same within a reasonable period by the federal deposit insurance corporation provided a copy of said examination is furnished to him. The director of the financial institutions division, may, also, in his discretion accept any report relative to the condition of a banking institution which may have been obtained by said corporation within a reasonable period, in lieu of a report authorized by the laws of this state to be required of such institution by the division, provided a copy of such report is furnished to the director of the financial institutions division. The director of the financial institutions division may furnish to said corporation, or to any official or examiner thereof, a copy or copies of any or all examinations made of any such banking institutions and of any or all reports made by same, and shall give access to and disclose to said corporation or any official or examiner thereof any and all information possessed by him with reference to the conditions or affairs of any such insured institution. Nothing in this section shall be construed to limit the duty of any banking institution in this state, deposits in which are to any extent insured under the provisions of Section 8 of the "Banking Act of 1933" (Section 12B of the Federal Reserve Act, as amended) or of any amendment of or substitution for the same, to comply with the provision of said act, its amendments or substitutions or the requirements of said corporation relative to examinations and reports, nor to limit the powers of the director of the financial institutions division with reference to examinations and reports under existing law. History: Laws 1935, ch. 16, § 5; 1941 Comp., § 50-1105; 1953 Comp., § 48-11-5; Laws 1977, ch. 245, § 25. ANNOTATIONSCompiler's notes. — Section 12B of the Federal Reserve Act, as amended, referred to in this section, relating to the federal deposit insurance corporations, was withdrawn from the Federal Reserve Act and made a separate act, known as the Federal Deposit Insurance Act by 64 Stat. 873, and now is compiled in the United States Code as 12 U.S.C. §§ 1811 to 1832. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 18. 9 C.J.S. Banks and Banking § 650.
NM Stat § 58-2-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 2 - Insurance of Bank Deposits|Section 58-2-6 - Loans by and sale of assets to federal corporation.

With respect to any banking institution, which is now or may hereafter be closed on account of inability to meet the demands of its depositors or by action of the director of the financial institutions division or of a court or by action of its directors or in the event of its insolvency or suspension, the director of the financial institutions division and/or the receiver or liquidator of such institution with the permission of the court having jurisdiction may borrow from said corporation and furnish any part or all of the assets of said institution to said corporation as security for a loan from same, provided, that where said corporation is acting as such receiver or liquidator, the order of a court of record of competent jurisdiction shall be first obtained approving such loan. The director of the financial institutions division upon the order of a court of record of competent jurisdiction, and the receiver or liquidator of any such institution may sell to said corporation any part or all of the assets of such institution. The provisions of this section shall not be construed to limit the power of any banking institution, the director of the financial institutions division or receivers or liquidators to pledge or sell assets in accordance with any existing law. History: Laws 1935, ch. 16, § 6; 1941 Comp., § 50-1106; 1953 Comp., § 48-11-6; Laws 1977, ch. 245, § 26. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 222.
NM Stat § 58-2-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 2 - Insurance of Bank Deposits|Section 58-2-7 - [Federal corporation as receiver or liquidator; possession of and title to assets.]

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. ANNOTATIONSAm. 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.
NM Stat § 58-2-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 2 - Insurance of Bank Deposits|Section 58-2-8 - [Enforcement of individual liability of stockholders and directors of closed banks.]

Among its other powers, said corporation, in the performance of its powers and duties as such receiver or liquidator, shall have the right and power upon the order of a court of record of competent jurisdiction to enforce the individual liability of the stockholders, and directors of any such banking institution. History: Laws 1935, ch. 16, § 8; 1941 Comp., § 50-1108; 1953 Comp., § 48-11-8. ANNOTATIONSSeverability clauses. — Laws 1935, ch. 16, § 9, provides for the severability of the act if any part or application thereof is invalid. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 272. 9 C.J.S. Banks and Banking § 654.
NM Stat § 58-3-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 3 - Accounts|Section 58-3-1 - Interest on accounts.

A. A state bank may maintain time and savings deposit accounts and pay interest on balances therein at rates which need not be uniform. The director of the financial institutions division may, by general regulation, fix maximum rates of interest. B. Time or savings account deposits shall be repaid to depositors under regulations adopted by the board of directors from time to time. These shall be available at the bank for inspection by depositors upon request, and depositors shall be so informed. History: 1953 Comp., § 48-4-2, enacted by Laws 1975, ch. 330, § 4; 1977, ch. 245, § 24. ANNOTATIONSNational banks in New Mexico are subject to this section. — National banks are subject to the laws of a state in respect of their affairs, unless such laws interfere with the purposes of their creation, tend to impair or destroy their efficiency as federal agencies, or conflict with the paramount law of the United States. 1960 Op. Att'y Gen. No. 60-141. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 415. Construction of savings bank bylaw expressly assented to by depositor, relieving bank from liability for payment to unauthorized person, 52 A.L.R. 760. Constitutionality of statute in relation to interest on bank deposit, 62 A.L.R. 489. Passbook, validity and construction of agreement for, or condition of, indemnity to bank in event of payment to depositor who cannot produce, 81 A.L.R. 1150. Effect, on bank depositor's rights and those of bank, of printed rules in passbook not expressly accepted, 60 A.L.R.2d 708. Bank's liability to customer for imposing allegedly excessive service charges, 73 A.L.R.4th 1028. Certificate of deposit as "security" under federal securities laws, 82 A.L.R. Fed. 553. 9 C.J.S. Banks and Banking § 264.
NM Stat § 58-3-2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 3 - Accounts|Section 58-3-2 - Refusal to accept signatures or endorsements.

A. A bank may refuse to pay any check, draft or order drawn upon it when the officers of the bank or national bank have reason to believe that the person signing or endorsing the instrument is or was so under the influence of alcohol or drug as to make it reasonably doubtful whether such person is or the person was at the time of signing or endorsing the check, draft or order capable of transacting business. No damages shall be awarded in any action against the bank or trust company or its officers for refusing in good faith to pay any such check, draft or order for such reason. B. A bank, national bank or the principal officers of a bank or national bank are not liable for damages for refusing in good faith to pay any check, draft or order pursuant to Subsection A of this section. History: 1953 Comp., § 48-10-10, enacted by Laws 1975, ch. 330, § 6. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 9 C.J.S. Banks and Banking § 265.
NM Stat § 58-3-3 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 3 - Accounts|Section 58-3-3 - Repealed.

ANNOTATIONSRepeals. — Laws 1978, ch. 122, §§ 1 and 2, repeal 48-10-3, 1953 Comp. (58-3-3 NMSA 1978), relating to joint accounts, effective March 6, 1978.
NM Stat § 58-3-4 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 3 - Accounts|Section 58-3-4 - Repealed.

ANNOTATIONSRepeals. — Laws 1989, ch. 209, § 18 repeals 58-3-4 NMSA 1978, as amended by Laws 1987, ch. 331, § 1, relating to withdrawals from financial institutions, effective June 16, 1989.
NM Stat § 58-4-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 4 - Merger and Consolidation of Banks|Section 58-4-1 - Additional definitions.

As used in this article, unless the context otherwise requires: A. "association" includes a state or federal savings and loan association unless limited by use of the words "state" or "federal"; B. "converting bank" means a bank converting from a state bank to a national bank or the reverse; C. "merger" includes consolidation; D. "merging bank" means a party to a merger; E. "resulting bank" means the bank resulting from a merger or conversion; and F. "dissenting stockholder" means a stockholder dissenting and voting his dissent as provided in this article. History: 1941 Comp., § 50-1901, enacted by Laws 1951, ch. 37, § 1; 1953 Comp., § 48-13-1; Laws 1993, ch. 210, § 2. ANNOTATIONSCross references. — For the Interstate Bank Branching Act, see 58-1C-1 NMSA 1978. The 1993 amendment, effective June 18, 1993, substituted "article" for "title" in the introductory language and Subsection F, added present Subsection A, redesignated former Subsections A through E as present Subsections B through F, inserted "bank" following "state" in Subsection B, and made a stylistic change. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 27 to 29. Consolidation or merger of bank as affecting statutory superadded liability of stockholders, 154 A.L.R. 427. 9 C.J.S. Banks and Banking §§ 158 et seq., 495, 570, 571.
NM Stat § 58-4-2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 4 - Merger and Consolidation of Banks|Section 58-4-2 - Resulting national bank.

A. Nothing in the law of this state shall restrict the right of a state bank to merge with or convert into a resulting national bank. The action to be taken by such merging or converting state bank and its rights and liabilities and those of its stockholders shall be the same as those prescribed for national banks at the time of the action by the law of the United States and not by the law of this state, except that a vote of the holders of two-thirds of each class of voting stock of a state bank, at a meeting called in conformity with the provisions of Section 5 [58-4-5 NMSA 1978], shall be required for the merger or conversion, and that on conversion by a state into a national bank the rights of dissenting stockholders shall be those specified in Section 10 [58-4-10 NMSA 1978]. B. Upon the completion of the merger or conversion, the franchise of any merging or converting state bank shall automatically terminate. History: 1941 Comp., § 50-1902, enacted by Laws 1951, ch. 37, § 2; 1953 Comp., § 48-13-2. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 28. Character as holder in due course of bank which takes over assets and assumes liabilities of another bank, 76 A.L.R. 1329. Liability of guarantor of or surety for bank deposit as affected by reorganization, merger, or consolidation of bank, 78 A.L.R. 381. Novation where bank transfers its assets to another bank which assumes its obligation, 79 A.L.R. 82. 9 C.J.S. Banks and Banking § 570.
NM Stat § 58-4-3 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 4 - Merger and Consolidation of Banks|Section 58-4-3 - Resulting state bank.

Upon approval by the director of the financial institutions division, banks may be merged to result in a state bank or a national bank may convert into a state bank as hereafter prescribed, except that the action by a national bank shall be taken in the manner prescribed by and shall be subject to limitations and requirements imposed by the law of the United States which shall also govern the rights of its dissenting stockholders. History: 1941 Comp., § 50-1903, enacted by Laws 1951, ch. 37, § 3; 1953 Comp., § 48-13-3; Laws 1977, ch. 245, § 28. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 28. Character as holder in due course of bank which takes over assets and assumes liabilities of another bank, 76 A.L.R. 1329. Liability of guarantor of or surety for bank deposit as affected by reorganization, merger, or consolidation of bank, 78 A.L.R. 381. Novation where bank transfers its assets to another bank which assumes its obligation, 79 A.L.R. 82. 9 C.J.S. Banks and Banking §§ 158 et seq., 570.
NM Stat § 58-4-5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 4 - Merger and Consolidation of Banks|Section 58-4-5 - Merger; approval by stockholders of state banks.

A. To be effective, a merger which is to result in a state bank must be approved by the stockholders of each merging state bank by a vote of two-thirds of the outstanding voting stock of each class at a meeting called to consider such action, which vote shall constitute the adoption of the charter and bylaws of the resulting state bank, including the amendments in the merger agreement. B. Notice of the meeting of stockholders of each state bank shall be given by publication in a newspaper of general circulation in the place where its principal office is located at least once a week for four successive weeks, and by mail at least fifteen days before the date of the meeting, to each stockholder of record of each merging bank at his address on the books of his bank; no notice by publication need be given if written waivers are received from the holders of two-thirds of the outstanding shares of each class of stock. The notice shall be accompanied by a copy of Section 10 [58-4-10 NMSA 1978] and shall state that the section sets forth the exclusive rights and remedies of dissenting stockholders. History: 1941 Comp., § 50-1905, enacted by Laws 1951, ch. 37, § 5; 1953 Comp., § 48-13-5. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 28. Valuation of stock of dissenting stockholders in case of consolidation or merger of corporation, 48 A.L.R.3d 430. 9 C.J.S. Banks and Banking § 158 et seq.
NM Stat § 58-4-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 4 - Merger and Consolidation of Banks|Section 58-4-6 - Effective date of merger; filing of approved agreement; certificate of merger as evidence.

A. A merger or sale which is to result in a state bank shall, unless a late date is specified in the agreement, become effective upon the filing with the director of the financial institutions division of the executed agreement together with copies of the resolutions of the stockholders of each merging, purchasing and selling bank approving it and a list of the owners of the shares [who] voted against the merger or purchase, certified by the bank's president or vice president and a secretary or cashier. The charters of the merging banks, other than the resulting bank, shall thereupon automatically terminate. B. The director of the financial institutions division shall promptly issue to the resulting bank a certificate of merger specifying the name of each merging bank and the name of the resulting state bank. Such certificate shall be conclusive evidence of the merger and of the correctness of all proceedings therefor in all courts and places, and may be recorded in any office for the recording of deeds to evidence the new name in which the property of the merging banks is held. History: 1941 Comp., § 50-1906, enacted by Laws 1951, ch. 37, § 6; 1953 Comp., § 48-13-6; Laws 1977, ch. 245, § 30. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 27. 9 C.J.S. Banks and Banking § 468.
NM Stat § 58-4-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 4 - Merger and Consolidation of Banks|Section 58-4-7 - Conversion of national into state bank.

A. A national bank located in this state which follows the procedure prescribed by the laws of the United States to convert into a state bank, shall be granted a charter by the director of the financial institutions division unless he finds that the bank does not meet the standards as to location of offices, capital structure and business experience and character of officers and directors for the incorporation of a state bank. B. The national bank may apply for each charter by filing with the director of the financial institutions division a certificate signed by its president and cashier and by a majority of the entire board of directors, setting forth the corporate action taken in compliance with the provisions of the laws of the United States governing the conversion of the national to a state bank, and the articles of incorporation, approved by the stockholders, for the government of the bank as a state bank. History: 1941 Comp., § 48-13-7, enacted by Laws 1951, ch. 37, § 7; 1953 Comp., § 48-13-7; Laws 1977, ch. 245, § 31. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 28. Character as holder in due course of bank which takes over assets and assumes liabilities of another bank, 76 A.L.R. 1329. Liability of guarantor of or surety for bank deposit as affected by reorganization, merger, or consolidation of bank, 78 A.L.R. 381. Novation where bank transfers it assets to another bank which assumes its obligation, 79 A.L.R. 82. 9 C.J.S. Banks and Banking §§ 570, 571.
NM Stat § 58-4-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 4 - Merger and Consolidation of Banks|Section 58-4-8 - Continuation of corporate entity; use of old name.

A. A resulting state or national bank shall be the same business and corporate entity as each merging bank or as the converting bank with all the property, rights, powers and duties of each merging bank or the converting bank, except as affected by the law of this state in the case of a resulting state bank or the laws of the United States in the case of a resulting national bank, and by the charter and bylaws of the resulting bank. B. A resulting bank shall have the right to use the name of any merging bank or of the converting bank whenever it can do any act under such name more conveniently. C. Any reference to a merging or converting bank in any writing, whether executed or taking effect before or after the merger or conversion, shall be deemed a reference to the resulting bank if not inconsistent with the other provisions of such writing, except when the resulting bank is not authorized to or has not qualified to exercise the powers conferred or required by the writing. History: 1941 Comp., § 50-1908, enacted by Laws 1951, ch. 37, § 8; 1953 Comp., § 48-13-8. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 28. 9 C.J.S. Banks and Banking § 158 et seq.