reglab/housing_qa huggingface dataset:
NM Stat § 58-1-19 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-19 - Identification and segregation of fiduciary assets; investment and deposit of cash.

A state bank holding any asset as a fiduciary shall: A. segregate all such assets from any other assets of the bank and from the assets of other trusts, except as may be permitted by the Uniform Common Trust Fund Act [46-1-13 to 46-1-16 NMSA 1978] or by other provisions of law or by the writing creating the trust; and B. record such assets in a separate set of books maintained for fiduciary activities. History: 1953 Comp., § 48-22-19, enacted by Laws 1963, ch. 305, § 19. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 817. 9 C.J.S. Banks and Banking §§ 271, 287, 289.
NM Stat § 58-1-20 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-20 - Reserves against deposits.

A. A state bank shall maintain such reserves against deposits as may be required by the director or, if the state bank is a member of the federal reserve system, by the Federal Reserve Act or by the board of governors of the federal reserve system. B. The reserve fund shall consist of legal tender on hand on the premises of the state bank and money due on demand from a federal reserve bank or other bank approved as a reserve depository by the director, in such amount as the director may prescribe, but shall not exceed at any time the reserve requirement ratios promulgated by the board of governors of the federal reserve system for national banks. C. A state bank may invest up to fifty percent of the required cash reserves in direct obligations of the United States government, provided such are limited to not more than one hundred days maturity free from encumbrance or pledge. History: 1953 Comp., § 48-22-20, enacted by Laws 1963, ch. 305, § 20; 1975, ch. 330, § 13; 1983, ch. 53, § 1; 1989, ch. 209, § 2. ANNOTATIONSCross references. — For the Federal Reserve Act referred to in Subsection A, see 12 U.S.C. § 221 et seq. Law reviews. — For student symposium, "Constitutional Revision - State Aid to Private Enterprise in New Mexico," see 9 Nat. Resources J. 457 (1969). Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 339, 419 to 427. 9 C.J.S. Banks and Banking §§ 23, 740 et seq.
NM Stat § 58-1-23 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-23 - Acceptances.

A. A bank may accept: (1) a draft which has not more than one hundred eighty days sight to run, exclusive of days of grace, and is drawn to finance the purchase of goods, with maturity in accordance with the original terms of purchase, or is secured by shipping documents transferring or securing title to goods or by receipt of a licensed or bonded warehouse or elevator transferring or securing title to readily marketable, nonperishable staples; and (2) a draft which has no more than ninety days sight to run, exclusive of days of grace, and is drawn by a bank outside the continental limits of the United States for the purpose of furnishing dollar exchange for trade. B. A bank may issue a letter of credit, but unless the authority conferred to draw upon the bank or its correspondents is limited to such drafts as a bank is authorized by this section to accept, the amount of the credit outstanding at any one time shall be deemed to be a loan to the person for whose account the credit was issued. History: 1953 Comp., § 48-22-23, enacted by Laws 1963, ch. 305, § 23; 1985, ch. 56, § 3. ANNOTATIONSCross references. — For letters of credit, see Chapter 55, Article 5 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 577 to 586. What amounts to acceptance extrinsic to check, 26 A.L.R. 312. Duties of collecting bank with respect to presenting draft or bill of exchange for acceptance, 39 A.L.R.2d 1296. 9 C.J.S. Banks and Banking §§ 204, 219, 238 et seq., 405.
NM Stat § 58-1-26 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-26 - Acquisition of banking premises and equipment.

A. A state bank may acquire real estate and equipment and improve real estate to be used in the transaction of its business and may rent to others any space so acquired in a building in excess of actual need. Unless a larger investment is authorized by the commissioner [director of the financial institutions division of the regulation and licensing department], no bank shall invest: (1) more than sixty percent of capital and surplus in land, building and equipment (other than safe deposit equipment); nor (2) more than ten percent of capital and surplus, in addition to the above, in safe deposit equipment. B. A state bank may become the owner and lessor of personal property acquired upon the specific request and for the use of a customer and may incur such additional obligations as may be incident to becoming an owner and lessor of such property. History: 1953 Comp., § 48-22-26, enacted by Laws 1963, ch. 305, § 26; 1975, ch. 330, § 18. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 279. 9 C.J.S. Banks and Banking § 237.
NM Stat § 58-1-27 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-27 - Sale of assets in ordinary course.

A bank may sell any asset in the ordinary course of business, or with the approval of the commissioner [director of the financial institutions division of the regulation and licensing department] in any other circumstance, but the sale of all or substantially all of the assets of a bank or of a department thereof is governed by Section 58-4-9 NMSA 1978. History: 1953 Comp., § 48-22-27, enacted by Laws 1963, ch. 305, § 27. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Cross references. — For director of financial institutions, see 9-16-4 NMSA 1978.
NM Stat § 58-1-28 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-28 - Borrowing.

A state bank may borrow money and issue evidence of indebtedness for a loan for temporary purposes in an amount not exceeding its capital and surplus or in such larger amount or for such other purposes as the commissioner [director of the financial institutions division of the regulation and licensing department] approves. History: 1953 Comp., § 48-22-28, enacted by Laws 1963, ch. 305, § 28. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 289, 290. 9 C.J.S. Banks and Banking § 243.
NM Stat § 58-1-30 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-30 - Pledge of assets.

A bank may pledge its assets to: A. enable it to act as agent for the sale of obligations of the United States; B. secure borrowed funds; or C. secure deposits when the depositor is required to obtain such security by the laws of the United States, the terms of any interstate compact or by the laws of any state. History: 1953 Comp., § 48-22-29, enacted by Laws 1963, ch. 305, § 29. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 419 to 422. Power of bank to pledge assets to secure general depositors, 65 A.L.R. 1412, 87 A.L.R. 1456, 101 A.L.R. 515, 112 A.L.R. 483. 9 C.J.S. Banks and Banking § 243.
NM Stat § 58-1-31 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-31 - Endorsement and signature guaranty and unauthorized assumption of liability.

A. A state bank may assume secondary liability as an endorser of a negotiable or nonnegotiable instrument, which it owns or has received for collection. A state bank may assume the liability of the guarantor of the genuineness of a signature. B. Except as expressly permitted in the Banking Act, a state bank shall not assume liability as an insurer or as a guarantor or indorser [endorser] of any security instrument or obligation. History: 1953 Comp., § 48-22-30, enacted by Laws 1963, ch. 305, § 30. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 614, 634, 635. Authority of officer or agent to bind corporation as guarantor or surety, 34 A.L.R.2d 290.
NM Stat § 58-1-32 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-32 - Director of the financial institutions division; appointment and qualifications; salary.

Upon the effective date of the Commerce and Industry Department Act, the title of the commissioner of banking shall be changed to the "director of the financial institutions division". All powers and duties heretofore vested by law or otherwise in the state bank examiner or commissioner of banking are hereby transferred to the director of the financial institutions division and all statutory references to the state bank examiner or commissioner of banking shall be construed to mean the director of the financial institutions division. The director of the financial institutions division shall be appointed by the secretary of the commerce and industry department by and with the governor's approval and by and with the consent of the senate for a term of four years, which term shall expire when his successor is duly appointed and qualified. He shall not be interested as a stockholder in any bank, savings and loan association, small loan licensee in this state or any corporation qualified or qualifying under Section 48-18-19.6 NMSA 1953, and shall be fully qualified to perform the duties of the office. The director of the financial institutions division shall be the head of the financial institutions division and its bureaus. The director of the financial institutions division may appoint an examiner as deputy director to have all his powers and duties in the absence of the director and may delegate such of his authority and duties to other examiners as he sees fit. History: 1953 Comp., § 48-22-31, enacted by Laws 1963, ch. 305, § 31; 1971, ch. 81, § 1; 1971, ch. 234, § 2; 1977, ch. 245, § 120. ANNOTATIONSCross references. — For appointment of director, see 9-16-6B(10), 9-16-7 NMSA 1978. Compiler's notes. — Section 48-18-19.6, 1953 Comp., referred to in this section, was repealed by Laws 1965, ch. 312, § 15. See now 58-13B-23 NMSA 1978 as to registration by qualification. Commerce and industry department. — Laws 1983, ch. 297, § 33, abolishes the commerce and industry department, referred to in this section. Laws 1983, ch. 297, § 20 creates the regulation and licensing department with a financial institutions division. Laws 1983, ch. 297, § 31, transfers the personnel, etc., of the financial institutions division of the commerce and industry department to the financial institutions division of the regulation and licensing department. See 9-16-4 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 § 58-1-33 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-33 - Oath of secrecy; surety bonds.

The director and all officers and employees of the division shall, before entering upon the discharge of their duties, in addition to any oath required by the constitution of New Mexico, take and subscribe an oath to keep secret all information acquired by them in the discharge of their duties under the Banking Act except as may be otherwise required by law. All employees of the division shall be covered under the surety bond provided pursuant to the Surety Bond Act [10-2-13 to 10-2-16 NMSA 1978]. History: 1953 Comp., § 48-22-32, enacted by Laws 1963, ch. 305, § 32; 1995, ch. 190, § 7. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, rewrote this section to the extent that a detailed comparison is impracticable. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 82 to 98. 9 C.J.S. Banks and Banking § 103.
NM Stat § 58-1-35 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-35 - Employees [Examiners] and clerks; designation of deputy.

The commissioner [director of the financial institutions division of the regulation and licensing department] may appoint and employ such examiners and clerks as the business of his office may require and as may be provided for by law at such salaries, payable out of the salary fund, as may be provided by law. In the event the business of the office shall require, the commissioner [director] may designate one or more of the examiners to act as his deputy with all the powers herein conferred upon the commissioner [director]. History: 1953 Comp., § 48-22-33.1, enacted by Laws 1975, ch. 330, § 19. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 18. 9 C.J.S. Banks and Banking § 10 et seq.
NM Stat § 58-1-36 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-36 - Seal of the director.

The director shall have a seal of office containing the words "Director of the Financial Institutions Division of the Regulation and Licensing Department", in the form of a circle and containing the word "Seal" within the circle. History: 1953 Comp., § 48-22-33.2, enacted by Laws 1975, ch. 330, § 20; 1977, ch. 245, § 121; 1991, ch. 120, § 1. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, deleted "of the financial institutions division" preceding "shall have", substituted "Regulation and Licensing Department" for "Commerce and Industry Department", and inserted "containing".
NM Stat § 58-1-37 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-37 - Office of the commissioner [director]; delegation of powers.

The commissioner [director of the financial institutions division of the regulation and licensing department] shall maintain an office at the state capitol in Santa Fe. He may delegate to his deputies such of his powers and authorities as he may see fit, and such deputy or deputies shall have and exercise only the powers and authorities so delegated. History: 1953 Comp., § 48-22-33.3, enacted by Laws 1975, ch. 330, § 21. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
NM Stat § 58-1-38 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-38 - Divulging information prohibited; exchange of information with United States; violation a misdemeanor.

Neither the commissioner [director of the financial institutions division of the regulation and licensing department], nor his deputies or employees, nor the state corporation commission [public regulation commission], nor any member thereof, nor any deputy, clerk or employee in its office shall divulge any information acquired by them in the discharge of their duties, except insofar as the same may be rendered necessary by law. The commissioner [director] may exchange information as to the conditions of banks with the United States comptroller of the currency, federal deposit insurance corporation, federal reserve banks, and banking departments of other states. Anyone who violates the provisions of this section shall be deemed guilty of a misdemeanor. History: 1953 Comp., § 48-22-33.4, enacted by Laws 1975, ch. 330, § 22. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 1998, ch. 108, § 80 provided that references to the state corporation commission be construed as references to the public regulation commission. Cross references. — For director of financial institutions, see 9-16-4 NMSA 1978. For penalty for misdemeanor, see 31-18-13 and 31-19-1 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 § 18. Use or publication of reports of, or information obtained by, bank examiners, as affected by their alleged confidential character, 123 A.L.R. 1278. Rights and remedies of financial institution customer in relation to subpoena duces tecum exception to general prohibitions of state right to financial privacy statute, 43 A.L.R.4th 1157. Bank's liability, under state law, for disclosing financial information concerning depositor or customer, 81 A.L.R.4th 377. 9 C.J.S. Banks and Banking §§ 10 et seq., 31.
NM Stat § 58-1-41 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-41 - Supervision fees.

A. Each state bank shall annually pay to the director a supervision fee. The amount of the supervision fee paid by each state bank is computed as follows, based upon assets as of December 31: || If the bank's total assets are     The assessment  is    ||     || Over  (Thousand)    But not over  (Thousand)    This amount    Plus    Of excess over  (Thousand)   ||     ||  0     30,000     0     .000210     0   ||  30,000     60,000     6,300     .000182     30,000   ||  60,000     100,000     11,745     .000168     60,000   ||  100,000     150,000     18,465     .000158     100,000   ||  150,000     200,000     26,340     .000147     150,000   ||  200,000      33,690     .000143     200,000.   |B. The fee shall be paid on or before the March 1 following the asset computation. For failure to pay the supervision fee when due, unless excused for cause by the director, the bank shall pay to the division one hundred dollars ($100) for every day of its delinquency. C. The director may proscribe lower supervision fees by regulation. In determining the amounts of the lower fees, the director may use criteria other than total assets of banks. History: Laws 1985, ch. 30, § 1; 1989, ch. 209, § 5; 1997, ch. 23, § 4. ANNOTATIONSThe 1997 amendment, effective July 1, 1997, deleted "financial institutions" preceding "division" in the second sentence of Subsection B, and added Subsection C. Prior History. — In 1985, former section 58-1-41 NMSA 1978 was repealed and re-enacted by Laws 1985, Chapter 3, Section 1. For prior history, see 1953 Comp., § 48-22-33.7, enacted by Laws 1975, ch. 330, § 25. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 19. 9 C.J.S. Banks and Banking § 10 et seq.
NM Stat § 58-1-41.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-41.1 - Trust department examination; fees.

At least once in each calendar year, the director of the financial institutions division of the regulation and licensing department shall cause to be examined the condition of the trust department of each state bank exercising trust powers. A report of examination shall be sent to the board of directors of the bank of which the trust department has been examined. There shall be paid to the director for each trust department examination a fee at the rate of one hundred fifty dollars ($150) per day, or fraction thereof, for each authorized representative engaged in the examination. History: 1978 Comp., § 58-1-41.1, enacted by Laws 1985, ch. 30, § 2. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 9 C.J.S. Banks and Banking § 10 et seq.
NM Stat § 58-1-41.2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-41.2 - Additional examinations.

Whenever a bank is examined more than once in any calendar year as provided in Section 58-1-46 NMSA 1978, the bank shall pay to the financial institutions division of the regulation and licensing department an amount determined by the director to be sufficient to reimburse the division for its actual expenses in conducting the examination. History: 1978 Comp., § 58-1-41.2, enacted by Laws 1985, ch. 30, § 3.
NM Stat § 58-1-42 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-42 - Repealed.

ANNOTATIONSRepeals. — Laws 1999, ch. 213, § 10 repeals 58-1-42 NMSA 1978, as enacted by Laws 1975, ch. 330, § 26, relating to fees for filing reports and certificates, effective June 18, 1999. For provisions of former section, see the 1998 NMSA 1978 on NMOneSource.com.
NM Stat § 58-1-43 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-43 - Fees and penalties; disposition.

The director shall keep a record of all fees and penalties collected by him and all expenses of his office. At the end of each month, unless otherwise provided by law, he shall turn over to the state treasurer all money collected during the month, together with a verified statement showing when and from what source the money was collected. The state treasurer shall deposit and transfer the money as provided in Section 9-16-14 NMSA 1978. History: 1953 Comp., § 48-22-33.9, enacted by Laws 1975, ch. 330, § 27; 1987, ch. 298, § 2.
NM Stat § 58-1-44 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1 - Banking Generally|Section 58-1-44 - Copies of reports and records; evidence; fees.

Copies of all reports and records concerning banks and banking filed in the office of the commissioner [director of the financial institutions division of the regulation and licensing department] or in the office of the state corporation commission [public regulation commission], certified by them or either of them, under the seal of office, shall be received in evidence in all action [actions] with like effect as the original thereof, and the commissioner [director] shall charge and collect such fees for said copies as are charged for similar papers by the state corporation commission. History: 1953 Comp., § 48-22-33.10, enacted by Laws 1975, ch. 330, § 28. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 1998, ch. 108, § 80 provided that references to the state corporation commission be construed as references to the public regulation commission. 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 § 478.