reglab/housing_qa huggingface dataset:
NM Stat § 58-26-3 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 26 - Interstate Depository Institutions|Section 58-26-3 - Definitions.

As used in the Interstate Depository Institutions Act: A. "bank" means: (1) an insured bank as defined in Section 3(h) of the Federal Deposit Insurance Act; or (2) any institution that is eligible to make application to become an insured bank pursuant to Section 5 of the Federal Deposit Insurance Act excepting and excluding an institution created or incorporated under the federal Edge Act (Federal Reserve Banks); B. "control" means the power, directly or indirectly, to either direct or exercise a controlling influence over the management or policies of a depository institution or a holding company, elect a majority of the directors of a depository institution or a holding company, or vote twenty-five percent or more of any class of voting securities of a depository institution or a holding company; C. "depository institution" means any bank or savings institution; D. "director" means the director of the financial institutions division of the regulation and licensing department; E. "domestic depository institution" means a depository institution whose home office is located in New Mexico and whose operations are principally conducted in New Mexico; F. "domestic holding company" means a holding company whose subsidiary depository institutions' operations are principally conducted in New Mexico; G. "financial institution" means any depository institution or credit union; H. "holding company" means any person, other than an individual, that has the power, to control a depository institution; I. "interstate acquisition" means any transaction pursuant to which an out-of-state depository institution or an out-of-state holding company acquires control of, merges with or acquires all or substantially all of the assets of a domestic depository institution or domestic holding company; J. "out-of-state depository institution" means any depository institution whose home office is located in a state other than New Mexico or whose operations are principally conducted in a state other than New Mexico; K. "out-of-state holding company" means a holding company whose subsidiary depository institutions' operations are principally conducted in a state other than New Mexico; L. "operations are principally conducted" means the state where the largest percentage of the aggregate deposits of a depository institution or of all depository institution subsidiaries of a holding company are held; and M. "savings institution" means a state or federal savings and loan association, state or federal savings bank, building and loan, savings and loan or homestead association or cooperative bank, the accounts of which are insured by the federal savings and loan insurance corporation. History: Laws 1988, ch. 5, § 3. ANNOTATIONSCross references. — For Sections 3(h) and 5 of the Federal Deposit Insurance Act, see 12 U.S.C. §§ 1813(h) and 1815 respectively. For the Edge Act (Federal Reserve Banks), see 12 U.S.C. § 611.
NM Stat § 58-26-4 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 26 - Interstate Depository Institutions|Section 58-26-4 - Interstate acquisitions permitted.

Notwithstanding the provisions of Section 58-5-11 NMSA 1978 restricting interstate acquisition: A. interstate acquisitions of domestic depository institutions that are savings institutions or domestic holding companies whose subsidiary depository institutions are savings institutions are permitted by out-of-state depository institutions and out-of-state holding companies effective January 1, 1989; provided, however, until July 1, 1992, if a domestic depository institution is to be so acquired, the acquired institution shall have been continuously operated for at least five years, or if a domestic holding company is to be so acquired, at least one of its subsidiary depository institutions shall have been continuously operated for at least five years; and B. an interstate acquisition pursuant to this section may not otherwise be contrary to law and shall not result in undue concentration of deposits totaling forty percent or more of the total deposits in all financial institutions in New Mexico. History: Laws 1988, ch. 5, § 4; 1989, ch. 16, § 1; 1996, ch. 2, § 13. ANNOTATIONSCross references. — For the Interstate Bank Acquisition Act, see 58-1B-1 NMSA 1978. For the Interstate Bank Branching Act, see 58-1C-1 NMSA 1978. The 1996 amendment, effective June 1, 1996, deleted former Subsection B relating to interstate acquisitions of domestic depository institutions and redesignated former Subsection B as Subsection C.
NM Stat § 58-26-5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 26 - Interstate Depository Institutions|Section 58-26-5 - Interstate acquisitions; notice.

At least ninety days prior to any interstate acquisition permitted by the Interstate Depository Institutions Act, the out-of-state depository institution or out-of-state holding company seeking to make an interstate acquisition shall file a notice of intent to make an interstate acquisition with the director. The director shall promulgate the form for such notice. Unless the shareholders of the domestic depository institution or domestic holding company sought to be accquired [acquired] have approved the interstate acquisition as required by applicable law, the director shall immediately notify any domestic depository institution or domestic holding company sought to be acquired in an interstate acquisition of the filing of any such notice and shall provide a copy of the notice to such domestic depository institution or domestic holding company. History: Laws 1988, ch. 5, § 5.
NM Stat § 58-26-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 26 - Interstate Depository Institutions|Section 58-26-6 - Formation of new depository institutions.

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, § 6.
NM Stat § 58-26-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 26 - Interstate Depository Institutions|Section 58-26-7 - Regulation.

Nothing contained in the Interstate Depository Institutions Act shall be construed to alter, amend or otherwise affect the powers and duties of the director as established by law. History: Laws 1988, ch. 5, § 7.
NM Stat § 58-26-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 26 - Interstate Depository Institutions|Section 58-26-8 - Existing law.

Nothing in the Interstate Depository Institutions Act shall be construed to modify or repeal the financial institution branching laws of this state or the provisions of Section 58-5-11 NMSA 1978. History: Laws 1988, ch. 5, § 8.
NM Stat § 58-27-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-1 - Short title.

Chapter 58, Article 27 NMSA 1978 may be cited as the "Border Development Act". History: Laws 1991, ch. 131, § 1; 2009, ch. 44, § 1. ANNOTATIONSCross references. — For additional powers conferred on counties with respect to projects, see 4-59-4 NMSA 1978. For the duties and general powers of the secretary of economic development, see 9-15-6 NMSA 1978. For New Mexico trade promotion, see 9-15-28 NMSA 1978. The 2009 amendment, effective June 19, 2009, added the chapter and article reference to the act.
NM Stat § 58-27-2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-2 - Legislative purpose.

By enacting the Border Development Act, it is the purpose of the legislature to: A. encourage and foster development of the state, its cities and counties by developing port facilities at international ports of entry; B. actively promote and assist public and private sectors' infrastructure development to attract new industries and businesses, thereby creating new job opportunities in the state while resolving transportation and logistical problems that may arise as ports of entry develop; and C. create the statutory framework that will enable the state to design, finance, construct, equip and operate port facilities necessary to ensure the timely, planned and efficient development of the border area between New Mexico and the Mexican state of Chihuahua. History: Laws 1991, ch. 131, § 2.
NM Stat § 58-27-4 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-4 - Border authority created; membership.

A. The "border authority" is created. The authority is a state agency and is administratively attached to the economic development department. B. The authority consists of seven voting members, six of whom shall be appointed by the governor. No more than three of those appointed shall belong to the same political party. The seventh member shall be the secretary of economic development or the secretary's designee. The voting members appointed by the governor shall be confirmed by the senate. The lieutenant governor shall serve as a nonvoting ex-officio member. The chair may appoint a nonvoting advisory committee to provide advice and recommendations on authority matters. C. The six voting members of the authority appointed by the governor shall be citizens of the state and shall serve for terms of four years except for the initial appointees who shall be appointed so that the terms are staggered after initial appointment. Initial appointees shall serve terms as follows: two members for two years, two members for three years and two members for four years. History: Laws 1991, ch. 131, § 4; 1995, ch. 192, § 2; 2003, ch. 123, § 1. ANNOTATIONSCross references. — For the Procurement Code, see 13-1-28 NMSA 1978. The 2003 amendment, effective June 20, 2003 rewrote Subsection A to such an extent that a detailed comparison is impracticable; in Subsection B, inserted "of those appointed" following "more than three" near the beginning, deleted "department" following "economic development" near the middle and inserted "or the secretary's designee" at the end of the present third sentence. The 1995 amendment, effective June 16, 1995, added the third sentence in Subsection A; in Subsection B, substituted "seven" for "thirteen", substituted the language beginning "six of whom" and ending "on authority matters" for "six ex officio and seven appointed", and deleted "Additionally, based upon the recommendations of the voting members, there shall be an unlimited number of nonvoting advisory members. Except for those members serving ex officio, all members shall be appointed by the governor" following "on authority matters"; deleted former Subsections C, D and E relating to appointment of members and ex officio members; redesignated former Subsection F as Subsection C, and in Subsection C, substituted "six" for "seven", inserted "shall be citizens of the state and" following "governor", and substituted "two members for four years" for "three members for four years".
NM Stat § 58-27-5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-5 - Authority; members' compensation.

Appointed voting members of the authority shall be reimbursed for expenses in accordance with those provisions of the Per Diem and Mileage Act [10-8-1 to 10-8-8 NMSA 1978] that apply to nonsalaried public officers unless a different provision of that act applies to a specific member, in which case that member shall be paid under the applicable provision. Members and advisors shall receive no other compensation, perquisite or allowance for serving as a member of or advisor to the authority. History: Laws 1991, ch. 131, § 5; 1995, ch. 192, § 3. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, deleted "Members and Advisors" following "Authority" in the section heading, and substituted "Appointed voting members of the authority" for "Members and advisors to the border authority whether voting or nonvoting" at the beginning of the section.
NM Stat § 58-27-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-6 - Officers of the authority.

The secretary of economic development shall serve as the chairman of the authority. Authority members shall elect any other officers from the membership that the authority determines appropriate. History: Laws 1991, ch. 131, § 6; 1992, ch. 46, § 1; 1995, ch. 192, § 4. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, substituted "The secretary of economic development shall serve as the chairman of the authority" for "The governor shall appoint the chairman of the authority". The 1992 amendment, effective May 20, 1992, deleted "from among his appointees" following "authority" at the end of the first sentence.
NM Stat § 58-27-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-7 - Executive committee of the authority.

The chairman and four other authority voting members appointed by him shall constitute the border authority executive committee. The committee shall have such powers and duties as delegated to it by the authority. The executive director of the authority shall be a nonvoting member of the executive committee. History: Laws 1991, ch. 131, § 7.
NM Stat § 58-27-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-8 - Vacancies on authority.

If a vacancy occurs among the appointed voting members of the authority, the governor shall appoint a replacement to serve out the term of the former member. If an appointed member's term expires, he shall continue to serve until he is reappointed or another person is appointed to replace him. History: Laws 1991, ch. 131, § 8.
NM Stat § 58-27-9 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-9 - Meetings and records of the authority.

A. The authority shall meet at the call of the chairman and shall meet in regular session at least once every three months. B. The authority shall maintain written minutes of all meetings of the authority. It shall maintain such other records as would be appropriate for a public governmental entity to maintain, including financial transaction records in compliance with law and adequate to provide an accurate record for audit purposes pursuant to the Audit Act [12-6-1 to 12-6-14 NMSA 1978]. History: Laws 1991, ch. 131, § 9.
NM Stat § 58-27-11 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-11 - Repealed.

ANNOTATIONSRepeals. — Laws 2003, ch. 123, § 7 repeals 58-27-11 NMSA 1978, being Laws 1991, ch. 131, § 11, as amended, relating to the additional powers of the border authority, effective June 20, 2003. For provisions of former section, see the 2002 NMSA 1978 on NMOneSource.com.
NM Stat § 58-27-12 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-12 - Authority staff; contracts.

A. The authority shall hire an executive director who shall employ the necessary professional, technical and clerical staff to enable the authority to function efficiently. B. The executive director of the authority shall direct the affairs and business of the authority, subject to the policies, control and direction of the authority. C. The authority may contract with any other competent private or public organization or individual to assist in the fulfillment of its duties. History: Laws 1991, ch. 131, § 12; 1995, ch. 192, § 7. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, added Subsection B, redesignated former Subsection B as Subsection C, and inserted "or individual" in Subsection C.
NM Stat § 58-27-13 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-13 - Location of authority.

The authority shall be located in the New Mexico-Chihuahua border area. History: Laws 1991, ch. 131, § 13.
NM Stat § 58-27-14 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-14 - Authority fees and charges.

Unless prohibited by law, the authority may fix, alter, charge and collect tolls, fees or rentals and may impose any other charges for the use of or for services rendered by any authority facility, program or service. History: Laws 1991, ch. 131, § 14; 1995, ch. 192, § 8; 2003, ch. 123, § 3. ANNOTATIONSThe 2003 amendment, effective June 20, 2003 substituted "Unless prohibited" for "Under such terms and conditions as may be prescribed" at the beginning of the section. The 1995 amendment, effective June 16, 1995, inserted "or" between "fees" and "rentals", added "program or service" at the end of the first sentence, and deleted the former second sentence which read "All tolls, fees, rents and other charges imposed by the authority and all grants, gifts and bequests received by the authority shall be deposited in the border authority fund."
NM Stat § 58-27-15 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-15 - Border authority; bonding authority; power to issue revenue bonds.

A. The authority may act as an issuing authority for the purposes of the Private Activity Bond Act [6-20-1 to 6-20-11 NMSA 1978]. B. The authority may issue revenue bonds for authority projects. With the exception of the port of entry or foreign trade zone, the border authority shall not be authorized to issue bonds for projects for a qualified entity, as defined in Section 6-21-3 NMSA 1978. Revenue bonds so issued may be considered appropriate investments for the severance tax permanent fund or collateral for the deposit of public funds if the bonds are rated not less than "A" by a national rating service and both the principal and interest of the bonds are fully and unconditionally guaranteed by a lease agreement executed by an agency of the United States government or by a corporation organized and operating within the United States, that corporation or the long-term debt of that corporation being rated not less than "A" by a national rating service. All bonds issued by the authority are legal and authorized investments for banks, trust companies, savings and loan associations and insurance companies. C. The authority may pay from the bond proceeds all expenses, premiums and commissions that the authority may deem necessary or advantageous in connection with the authorization, sale and issuance of the bonds. History: Laws 1991, ch. 131, § 15; 1995, ch. 192, § 9. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, deleted "New Mexico" preceding "Private Activity Bond Act" in Subsection A, inserted the second sentence in Subsection B, and deleted "attorneys' fees, engineering fees, and architects' fees and" following "expenses" and substituted "that" for "which" following "commissions" in Subsection C.
NM Stat § 58-27-16 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-16 - Authority revenue bonds; terms.

A. Authority revenue bonds: (1) may have interest, appreciated principal value or any part thereof payable at intervals determined by the authority; (2) may be subject to prior redemption or mandatory redemption at the authority's option at the time and upon the terms and conditions with or without the payment of a premium as may be provided by resolution of the authority; (3) may mature at any time not exceeding thirty years after the date of issuance; (4) may be serial in form and maturity or may consist of one or more bonds payable at one time or in installments or may be in such other form as determined by the authority; (5) may be in registered or bearer form or in book entry form through the facilities of a securities depository either as to principal or interest or both; (6) shall be sold for cash at, above or below par and at a price that results in a net effective interest rate that conforms to the Public Securities Act [6-14-1 to 6-14-3 NMSA 1978]; and (7) may be sold at public or negotiated sale. B. Subject to the approval of the state board of finance, the authority may enter into other financial arrangements if it determines that the arrangements will assist the authority. History: Laws 1991, ch. 131, § 16; 1995, ch. 192, § 11; 2003, ch. 123, § 4. ANNOTATIONSThe 2003 amendment, effective June 20, 2003 inserted "A." preceding "Authority revenue bonds" at the beginning of the section; redesignated former Subsections A through G as present Paragraphs A(1) through A(7); and inserted "B." preceding the former last paragraph in the section; and in present Subsection B, inserted "the authority" following "of finance" near the beginning, substituted "it" for "the authority" following "arrangements if" near the middle and deleted "in more effectively managing its interest costs or in more effectively managing its interest rate exposure" at the end. The 1995 amendment, effective June 16, 1995, deleted "Border" preceding "Authority" in the section heading, added "or mandatory redemption" in Subsection B; inserted "in" preceding "registered" and "or in book entry form through the facilities of a securities depository" following "form" in Subsection E, substituted "conforms to" for "does not exceed the maximum rate premitted by" in Subsection F, and added Subsection H.
NM Stat § 58-27-16.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-16.1 - Authority loans; terms.

If the authority borrows money from a financial institution or other entity: A. the interest, principal payments or any part thereof shall be payable at intervals as may be determined by the authority; B. the loan shall mature at any time not exceeding thirty years from the date of origination; C. the principal amount of the loan shall not exceed the fair market value of the real or personal property to be acquired with the proceeds of the loan as evidenced by a certified appraisal in accordance with the Real Estate Appraisers Act [Chapter 61, Article 30 NMSA 1978]; and D. the loan shall be subject to the approval of the state board of finance. History: 1978 Comp., § 58-27-16.1, enacted by Laws 1993, ch. 335, § 4; 1995, ch. 192, § 12; 2003, ch. 123, § 5. ANNOTATIONSThe 2003 amendment, effective June 20, 2003, purported to amend this section but made no change to the section. The 1995 amendment, effective June 16, 1995, added "or other entity" at the end of the introductory language, deleted former Subsections C and D relating to a limitation on the maximum rate of interest and aquisition of property in fee simple, and redesignated former Subsections E and F as Subsections C and D.
NM Stat § 58-27-16.2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 27 - Border Development|Section 58-27-16.2 - Repealed.

ANNOTATIONSRepeals. — Laws 1995, ch. 192, § 22, repeals 58-27-16.2 NMSA 1978, as enacted by Laws 1993, ch. 335, § 9, providing for the use of proceeds from borrowed funds, effective June 16, 1995. For provisions of former section, see the 1994 NMSA 1978 on NMOneSource.com.