reglab/housing_qa huggingface dataset:
NM Stat § 58-10-61 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-61 - Pledge of savings account in joint tenancy.

The pledge or hypothecation to any association or federal association of all or part of a savings account in joint tenancy signed by any tenant or tenants, whether minor or adult, upon whose signature or signatures withdrawals may be made from the account, unless the terms of the savings account provide specifically to the contrary, is a valid pledge and transfer to the association of that part of the account pledged or hypothecated, and shall not operate to sever or terminate the joint and survivorship ownership of all or any part of the account. History: 1953 Comp., § 48-15-103, enacted by Laws 1967, ch. 61, § 59. ANNOTATIONSCross references. — For joint savings accounts generally, see 58-10-63B NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 369 to 389. Liability of bank to joint depositor for removal of name from account at request of other joint depositor, 39 A.L.R.4th 1112.
NM Stat § 58-10-62 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-62 - Accounts of fiduciaries.

Any association or federal association may accept savings accounts in the name of any administrator, executor, custodian, conservator, guardian, trustee or other fiduciary for a named beneficiary or beneficiaries. The fiduciary may vote as a member as if the membership were held absolutely, and he may open, make additions to and withdraw any such account in whole or in part. The withdrawal value of the account and earnings thereon or other rights relating thereto may be paid or delivered in whole or in part to the fiduciary without regard to any notice to the contrary as long as the fiduciary is living. Payment or delivery to the fiduciary, or a receipt or acquittance signed by the fiduciary to whom the payment or delivery of rights is made, is a valid release and discharge of the association for the payment or delivery made. Whenever a person holding an account in a fiduciary capacity dies and no written notice of the revocation or termination of the fiduciary relationship has been given to the association, and the association has no written notice of any other disposition of the beneficial estate, the withdrawal value of the account and earnings thereon or other rights relating thereto may, at the option of the association, be paid and delivered in whole or in part to the beneficiary, beneficiaries or to a legally authorized successor fiduciary. Whenever an account is opened by any person describing himself in opening the account as trustee for another and no other notice of the existence and terms of a legal and valid trust than this description has been given in writing to the association, in the event of the death of the person described as trustee, the withdrawal value of the account or any part thereof, together with the earnings thereon, may be paid to the person for whom the account was thus described to have been opened or to a legally authorized successor trustee. Payment and delivery to any beneficiary, beneficiaries or designated person, or a receipt or acquittance signed by any beneficiary, beneficiaries or designated person for any payment or delivery, is a valid release and discharge of the association for the payment or delivery made. No association paying any fiduciary, beneficiary or designated person in accordance with the provisions of this section is liable for any estate, inheritance or succession taxes which may be due to this state. History: 1953 Comp., § 48-15-104, enacted by Laws 1967, ch. 61, § 60; 1971, ch. 242, § 3. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 275, 303 to 307.
NM Stat § 58-10-64 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-64 - Redemption of savings accounts.

At any time funds are on hand for the purpose, an association may redeem, by lot or otherwise as determined by the board of directors, all or any part of any of its savings accounts on a dividend date by giving thirty days' notice by mail addressed to each affected account holder at his last address of record on the books of the association. No association shall redeem any of its savings accounts when the association is subject to receivership action or when it has applications for withdrawal which have been on file for more than thirty days and have not been reached for payment. The redemption price of savings accounts redeemed shall be the withdrawal value thereof. If the notice of redemption has been given, and if, on or before the redemption date, the funds necessary for the redemption have been set aside and continue to be available, dividends upon the accounts called for redemption shall cease to accrue from the dividend date specified as the redemption date, and all rights with respect to such accounts shall terminate after the redemption date except the right of the account holder of record to receive the redemption price. History: 1953 Comp., § 48-15-107, enacted by Laws 1967, ch. 61, § 63. ANNOTATIONS
NM Stat § 58-10-65 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-65 - Lien on savings accounts.

Every association operating under the Savings and Loan Act, or any federal association doing business in this state, has a lien, without further agreement or pledge, upon all savings accounts owned by any member to whom, or on whose behalf, the association has made an advance of money by loan or otherwise and, the lien is a complete and perfected lien for the amount or amounts so advanced; upon the default in repayment or satisfaction thereof, the association may, without notice to, or consent of, the member, cancel on its books all or any part of the savings accounts owned by the member and apply the value of the accounts in payment on account of the obligation. An association may, by written instrument, waive its lien in whole or in part on any savings accounts. Any association may take the pledge of savings accounts of the association owned by a member other than the borrower as additional security for any loan secured by an account or by an account and real estate, or as additional security for any real estate loan. History: 1953 Comp., § 48-15-108, enacted by Laws 1967, ch. 61, § 64. ANNOTATIONS
NM Stat § 58-10-66 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-66 - Paying dividends on savings accounts.

After providing for payment of expenses of operation of the association and for the required minimum transfer to its loss reserves, the board of directors of an association may declare dividends or pay interest on savings accounts not to exceed four times a year. An association need not pay or credit a dividend or pay interest of less than one dollar ($1.00) on any account or any dividend or interest on short term accounts where the savings contract provides for closing the account within one year and waives dividend or interest participation. Dividends or interest shall be credited to savings accounts on the books of the association unless, upon written request of a savings account holder, the association agrees to pay dividends or interest in cash. Dividends or interest payable in cash may be paid by check or bank draft. History: 1953 Comp., § 48-15-109, enacted by Laws 1967, ch. 61, § 65. ANNOTATIONSCross references. — For dividends on permanent capital stock, see 58-10-69 NMSA 1978.
NM Stat § 58-10-67 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-67 - Computation of net income.

Each association shall close its books on the last business day of June and December each year, and at such other times as its bylaws may provide. History: 1953 Comp., § 48-15-110, enacted by Laws 1967, ch. 61, § 66.
NM Stat § 58-10-68 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-68 - Transfers to loss reserves.

A. Every association without permanent capital stock shall accumulate from its earnings a reserve fund for protection against losses. The reserve fund shall be accumulated by setting aside to the fund at each dividend-paying period a sum equal to two percent of its net earnings before dividends until the reserve fund equals not less than five percent of its total savings liability. The reserve fund shall be maintained at this level, and upon any subsequent increase in total savings liability, the association shall make additional accumulations at the rate and times set forth in this section for initial accumulations. For the purposes of this subsection, any accumulation of loss reserves and undivided profits shall be considered to be part of the reserve fund required. B. Every permanent capital stock association shall maintain a net worth totaling at least five percent of its total savings liability or at the discretion of the supervisor build up its federal insurance reserve, or loss reserve, and net worth accounts pursuant to regulations issued by the supervisor. If the net worth is less than the amounts specified by regulation of the supervisor, no association shall issue savings account or investment certificates except for savings account or investment certificates theretofore issued or in connection with loans, and no association shall receive additional funds on savings accounts or investment certificates, but the association may credit to savings accounts or investment certificates interest earned thereon. No association shall pay any dividends to permanent capital stockholders or distribute any profits to stockholders if its net worth is less than, or by such payment or distribution would be reduced below, the amount specified by regulation of the supervisor. History: 1953 Comp., § 48-15-111, enacted by Laws 1967, ch. 61, § 67; 1975, ch. 250, § 1. ANNOTATIONSCross references. — For definition of loss reserves, see 58-10-2D NMSA 1978. Cross references. — For meaning of "supervisor", see 58-10-2J NMSA 1978. Outstanding capital debentures not used to satisfy net worth requirements. — Outstanding capital debentures or notes may not be used to satisfy the net worth requirements of Section 58-10-47 NMSA 1978, or any other section of the Savings and Loan Act except for Section 58-10-68 NMSA 1978, which is for the purpose of computing an association's reserve requirements. In that event, they are to be treated as capital. 1975 Op. Att'y Gen. No. 75-53. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 186, 193, 216. 9 C.J.S. Banks and Banking § 23; 12 C.J.S. Building and Loan Associations § 50.
NM Stat § 58-10-69 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-69 - Dividends on permanent capital stock.

The balance of net income of an association, if any, may be credited to a surplus account from which the board of directors of any association with permanent capital stock may, at its discretion and at such times as it may determine, declare and pay dividends in cash or additional stock to the holders of record of the stock outstanding at the date the dividends are declared. The reserve fund shall, at all times, be maintained at not less than the minimum amounts required in the Savings and Loan Act. History: 1953 Comp., § 48-15-112, enacted by Laws 1967, ch. 61, § 68. ANNOTATIONSCross references. — For paying dividends on savings accounts, see 58-10-66 NMSA 1978. For the permanent capital stock association reserve fund, see 58-10-68B NMSA 1978. Capital stock building and loan association could pay quarterly dividends on its various classes of shares. 1962 Op. Att'y Gen. No. 62-58 (opinion rendered under former law). Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 414 to 418. 9 C.J.S. Banks and Banking § 603; 12 C.J.S. Building and Loan Associations § 26.
NM Stat § 58-10-70 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-70 - Use of surplus accounts and expense fund contributions.

At any closing date, any association may use all or any part of any surplus accounts, whether earned or paid in, or any expense fund contributions on its books at the time, to meet all or any part of the expenses of operating the association for the period just closed, required transfers to loss reserves or the payment or credit of dividends declared on savings accounts. History: 1953 Comp., § 48-15-113, enacted by Laws 1967, ch. 61, § 69. ANNOTATIONSCross references. — For the date when an association must close its books, see 58-10-67 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 40. 9 C.J.S. Banks and Banking § 466.
NM Stat § 58-10-71 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-71 - Savings and loan supervisor.

There is created the "savings and loan bureau" in the financial institutions division of the commerce and industry department [regulation and licensing department]. The chief of the bureau shall be the "savings and loan supervisor." The supervisor and any examiners shall not be interested in any association directly or indirectly, or be directors, officers, employees, borrowers, trustees or attorneys for any association, or received [receive], directly or indirectly, any payment or gratuity from any association. History: 1953 Comp., § 48-15-114, enacted by Laws 1967, ch. 61, § 70; 1977, ch. 245, § 43. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 1983, ch. 297, § 33 abolished the commerce and industries department. See 9-16-4 NMSA 1978 for the financial institutions division. Cross references. — For provision that "supervisor" also means "director of the financial institutions division" if the position of chief of the savings and loan bureau is vacant, see 58-10-2J NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 17. 9 C.J.S. Banks and Banking § 10 et seq.
NM Stat § 58-10-72 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-72 - General powers of supervisor.

The supervisor has general supervision over all associations and corporations subject to the provisions of the Savings and Loan Act. He may promulgate general regulations for the administration and enforcement of the Savings and Loan Act. He shall enforce the purpose of the Savings and Loan Act by use of the powers therein conferred and by reference to the courts for injunctive or other relief whenever necessary. The regulation-making power of the supervisor shall not be exercised unless notice of the terms or substance of the proposed regulation or amendment to existing regulations has been given to all associations subject to regulation under the Savings and Loan Act, by mail, and if, within twenty days after issuance of the notice, as many as two associations request a hearing on the proposal, the supervisor shall call a hearing at which any interested party may present evidence or argument relating to the proposal. After consideration of any relevant matter available from the files and records of the supervisor or presented at the hearing, any regulation or amendment approved and adopted pursuant to the hearing shall be promulgated in written form and the effective date thereof fixed by order of adoption and promulgation. Within thirty days thereof, any party aggrieved may appeal from the ruling under the provisions of the Savings and Loan Act by giving notice of appeal, which shall be served on the supervisor and all parties of record in the manner provided by law for the service of summons in civil proceedings. History: 1953 Comp., § 48-15-115, enacted by Laws 1967, ch. 61, § 71. ANNOTATIONSCross references. — For appeals from the supervisor's orders or decisions, see 58-10-84B and 58-10-92 NMSA 1978. For service of summons, see Rule 1-004 NMRA. For meaning of "supervisor", see 58-10-2J NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 17, 21, 26. 9 C.J.S. Banks and Banking §§ 131, 139.
NM Stat § 58-10-73 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-73 - Regulations.

In the exercise of his power to promulgate regulations under the Savings and Loan Act, the supervisor shall act in the interest of promoting and maintaining a sound savings and loan association system, the security of the savings account holders and other customers, the preservation of the liquid position of associations and in the interest of preventing injurious credit expansions and contractions. History: 1953 Comp., § 48-15-116, enacted by Laws 1967, ch. 61, § 72. ANNOTATIONSCross references. — For meaning of "supervisor", see 58-10-2J NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 10 to 19. 9 C.J.S. Banks and Banking §§ 131, 139.
NM Stat § 58-10-74 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-74 - Confidential information.

The supervisor, deputy and his employees shall not divulge any information acquired by them in the discharge of their duties under the Savings and Loan Act except as necessary by law or under order of court. The supervisor may furnish information as to the condition of any association to the federal home loan bank board of Washington, D. C., or the federal savings and loan insurance corporation, any regional federal home loan bank or other savings and loan association department of any other state. History: 1953 Comp., § 48-15-117, enacted by Laws 1967, ch. 61, § 73. ANNOTATIONSCross references. — For meaning of "supervisor", see 58-10-2J NMSA 1978. Furnishing information to state treasurer prohibited. — The financial institutions division is prohibited from furnishing information on the financial condition of New Mexico financial institutions to the state treasurer, absent express statutory authorization for such release. 1979 Op. Att'y Gen. No. 79-22. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 216. Bank's liability, under state law, for disclosing information concerning depositor or customer, 81 A.L.R.4th 377. 9 C.J.S. Banks and Banking §§ 270, 283.
NM Stat § 58-10-75 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-75 - Supervisor; disposition of fees.

All money collected by the supervisor shall be paid to the state treasurer for credit to the state general fund. History: 1953 Comp., § 48-15-118, enacted by Laws 1967, ch. 61, § 74. ANNOTATIONSCross references. — For meaning of "supervisor", see 58-10-2J NMSA 1978.
NM Stat § 58-10-76 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-76 - Audits and examinations; fees.

The supervisor shall, at least once each year without previous notice, examine or cause an examination to be made into the affairs of each association subject to the Savings and Loan Act. If an association is not audited at least once each year in a manner satisfactory to the supervisor, he shall order an audit to be made by an independent public auditing firm at the expense of the association. Upon completion of any audit, two copies, signed and certified by the auditor making the audit, shall be filed with the supervisor. The supervisor, any deputy supervisor or his examiners or auditors shall have free access to all books and records of an association which relate to its business, and books and records kept by any officer, agent or employee relating to, or upon which, any record of its business is kept; and may summon witnesses and administer oaths or affirmations in examination of the directors, officers, agents or employees of any association, or any other person in relation to its affairs, transactions and condition, and may require and compel the production of records, books, papers, contracts or other documents by court order if not voluntarily produced. Every association examined shall pay a fee of two hundred dollars ($200) for each examination, together with a further fee for each examination in an amount equal to three-fourths of one-hundredth of one percent of the total assets of the association examined on the day of the examination. An additional fee of fifty dollars ($50.00) shall be added for each branch examined. History: 1953 Comp., § 48-15-119, enacted by Laws 1967, ch. 61, § 75. ANNOTATIONSCross references. — For records and access to them generally, see 58-10-25, 58-10-26 NMSA 1978. For subpoena for production of documentary evidence, see Rule 1-045 NMRA. For meaning of "supervisor", see 58-10-2J NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 216, 266. Purposes for which officer may exercise right to examine books and records, 15 A.L.R.2d 11. 9 C.J.S. Banks and Banking § 15 et seq.
NM Stat § 58-10-77 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-77 - Other examinations.

The supervisor may examine any service corporation in which an association has invested its funds, and any corporation owning twenty-five percent or more of the outstanding capital stock of an association, the same as if the corporation were an association. History: 1953 Comp., § 48-15-119.1, enacted by Laws 1976, ch. 57, § 3. ANNOTATIONSCross references. — For definition of service corporation, see 58-10-2I NMSA 1978. For meaning of "supervisor", see 58-10-2J NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 216, 266. 9 C.J.S. Banks and Banking § 15 et seq.
NM Stat § 58-10-78 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-78 - Federal examination.

The supervisor may accept the report of examination of any association by the federal home loan bank board or the federal savings and loan insurance corporation in lieu of any examination required by the Savings and Loan Act. If the supervisor examines or causes to be examined any association in conjunction with an examination by any of these federal agencies, the examination shall be deemed equivalent to two separate examinations. History: 1953 Comp., § 48-15-120, enacted by Laws 1967, ch. 61, § 76. ANNOTATIONSCross references. — For meaning of "supervisor", see 58-10-2J NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 231, 238. Right of federal deposit insurance corporation to injunctive relief in enforcement of its regulations, 22 A.L.R. Fed. 918. 9 C.J.S. Banks and Banking §§ 652, 665.