reglab/housing_qa huggingface dataset:
NM Stat § 58-10-109 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-109 - Adverse claims to contents of safe deposit box.

A. An adverse claim to the contents of a safe deposit box, or to property held in safekeeping, is not sufficient to require the lessor to deny access to its lessee unless: (1) the lessor is directed to do so by a court order issued in an action in which the lessee is served with process and named as a party by a name which identifies him with the name in which the safe deposit box is leased or the property held; or (2) the safe deposit box is leased or the property is held in the name of a lessee with the addition of words indicating that the contents or property are held in a fiduciary capacity, and the adverse claim is supported by an affidavit stating facts disclosing that it is made by, or on behalf of, a beneficiary and that there is a reason to believe that the fiduciary may misappropriate the trust property. B. A claim is also adverse when one of several lessees claims, contrary to the terms of the lease, an exclusive right of access, or where one or more persons claim a right of access as agents or officers of a lessee to the exclusion of others as agents or officers, or when it is claimed that a lessee is the same person as one using another name. History: 1953 Comp., § 48-15-149, enacted by Laws 1971, ch. 242, § 9. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 475 to 485.
NM Stat § 58-10-110 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-110 - Special remedies for nonpayment of rent.

A. If the rental due on a safe deposit box has not been paid for one year, the lessor may send a notice by certified or registered mail to the lessee's last known address stating that the safe deposit box will be opened and its contents stored at the lessee's expense unless payment of rental due is made within thirty days. If the rental is not paid within thirty days from the mailing of the notice, the box may be opened in the presence of an officer of the lessor and of a notary public who is not a director, officer, employee or stockholder of the lessor. The contents shall be sealed in a package by the notary public who shall write on the outside the lessee's name and the date the box was opened. The notary public shall execute a certificate reciting the lessee's name, the date the box was opened and a list of its contents. The certificate shall be included in the package and a copy of it sent by certified or registered mail to the lessee's last known address. The package shall then be placed in the general vaults of the lessor at a rental not exceeding the rental previously charged for the box. B. If the contents of the box are not claimed within the time prescribed by the Uniform Disposition of Unclaimed Property Act [Uniform Unclaimed Property Act (1995), 7-8A-30 NMSA 1978], they shall be disposed of as provided in that act. Upon sale of the contents, the lessor shall be reimbursed for the accrued rental and storage charges from the sale proceeds. History: 1953 Comp., § 48-15-150, enacted by Laws 1971, ch. 242, § 10. 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 §§ 486 to 492. Bank's right to apply or set off deposit against debt of depositor not due at time of his death, 7 A.L.R.3d 908.
NM Stat § 58-10-111 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 10 - Savings and Loan Associations|Section 58-10-111 - Limitation of liability on construction loans.

Any association which makes a loan whose proceeds the borrower uses, or may use, to finance the design, manufacture, construction, repair, modification or improvement of real or personal property for sale or lease to others is not liable to third persons for: A. any loss or damage resulting from any defect in the property; or B. any loss or damage resulting from the borrower's failure to use due care in any of the work for or on the property, unless the loss or damage results from an act of the association outside the scope of its business as an association or unless the association has knowingly been a party to any misrepresentation concerning the property. History: 1953 Comp., § 48-15-151, enacted by Laws 1971, ch. 242, § 11. ANNOTATIONSSeverability clauses. — Laws 1971, ch. 242, § 12, provides for the severability of the act if any part or application thereof is held invalid. Am. Jur. 2d, A.L.R. and C.J.S. references. — 9 C.J.S. Banks and Banking §§ 107, 113, 115, 121.
NM Stat § 58-11-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-1 - Short title.

Chapter 58, Article 11 NMSA 1978 may be cited as the "Credit Union Act". History: Laws 1987, ch. 311, § 1; 1997, ch. 195, § 1. ANNOTATIONSCross references. — For credit union share insurance corporations, see Chapter 58 Article 12 NMSA 1978. For exemption of director of financial institutions division, director of securities division, and chief of savings and loan bureau from authority of superintendent of regulation and licensing, see 9-16-11 NMSA 1978. Repeals and reenactments. — Laws 1987, Chapter 311 repeals 58-11-1 NMSA 1978, as amended by Laws 1977, ch. 245, § 113, relating to organization and definition of credit unions, effective June 19, 1987, and enacts the present section. The 1997 amendment, effective July 1, 1997, substituted "Chapter 58, Article 11 NMSA 1978" for "Section 1 through 65 of this act" and substituted "Credit Union Act" for "Credit Union Regulatory Act". Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of Credit Union Regulation Act, 58-11-1 to 58-11-65 NMSA 1978, on July 1, 1997. Large credit union is a "public figure" within the law of libel when the credit union has suspended the payments of dividends and circulates data to its members indicating that it has experienced management and investment problems. Coronado Credit Union v. KOAT Television, Inc., 1982-NMCA-176, 99 N.M. 233, 656 P.2d 896 (decided under prior law). Act patterned after Federal Credit Union Act. — The New Mexico Credit Union Act is patterned closely after the Federal Credit Union Act, which act's interpretations may be persuasive before the New Mexico courts. 1982 Op. Att'y Gen. No. 82-03. Am. Jur. 2d, A.L.R. and C.J.S. references. — 13 Am. Jur. 2d Building and Loan Associations § 1 et seq. 12 C.J.S. Building and Loan Associations § 1 et seq.
NM Stat § 58-11-4 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-4 - Appeal rights and court review.

Any person aggrieved or directly affected by a final order of the director may obtain a review of the order in the district court pursuant to the provisions of Section 39-3-1.1 NMSA 1978. History: Laws 1987, ch. 311, § 4; 1999, ch. 265, § 58. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed 58-11-4 NMSA 1978, as amended by Laws 1975, ch. 344, § 4, relating to use of words "credit union", effective June 19, 1987, and enacted a new section. Cross references. — For procedures governing appeals from administrative decisions and orders, see Rule 1-074 NMRA. For scope of review of the district court, see Zamora v. Village of Ruidoso Downs, 120 N.M. 778, 907 P.3d 182 (1995). The 1999 amendment, effective July 1, 1999, rewrote the section, which formerly read: "Any person aggrieved or directly affected by an order, rule or regulation of the director may appeal to the court of appeals within thirty days after issuance of the order". Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.
NM Stat § 58-11-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-6 - Records.

A. A credit union shall maintain all books, records, accounting systems and procedures in accordance with the rules, regulations and orders the director from time to time establishes or issues. In establishing and issuing such rules, regulations and orders, the director shall consider the relative size of a credit union and its reasonable capability of compliance. B. A credit union is not liable for destroying records after the expiration of the record retention time prescribed by regulation, except for any records involved in an official investigation or examination about which the credit union has received notice. C. A photostatic, photographic or xerographic reproduction of any credit union record or any credit union record retrieved in perceptible form from an electronic record maintained pursuant to the provisions of the Uniform Electronic Transactions Act [Chapter 14, Article 16 NMSA 1978] shall be admissible as evidence of transaction with the credit union. History: Laws 1987, ch. 311, § 6; 2003, ch. 28, § 2. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repeals 58-11-6 NMSA 1978, as amended by Laws 1975, ch. 344, § 6, relating to powers of commissioner and state credit unions, effective June 19, 1987, and enacts the present section. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997. The 2003 amendment, effective June 20, 2003, substituted "record of any credit union record retrieved in perceptible form from an electronic record maintained pursuant to the provisions of the Uniform Electronic Transactions Act" for "records" near the middle of Subsection C. Am. Jur. 2d, A.L.R. and C.J.S. references. — 13 Am. Jur. 2d Building and Loan Associations § 38. 12 C.J.S. Building and Loan Associations § 7.
NM Stat § 58-11-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-7 - Reports.

A. Credit unions shall report to the director quarterly on or before January 30, April 30, July 30 and October 30. Reports shall be on forms supplied by the director. The director may require additional reports. B. A charge of twenty-five dollars ($25.00) shall be levied for each day a credit union fails to provide a required report, unless that charge is by the director excused for cause. History: Laws 1987, ch. 311, § 7; 1989, ch. 209, § 9; 2003, ch. 28, § 3. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed former 58-11-7 NMSA 1978, as amended by Laws 1975, ch. 344, § 7, relating to membership, effective June 19, 1987, and enacted a new 58-11-7 NMSA 1978. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997. The 2003 amendment, effective June 20, 2003, substituted "quarterly on or before January 30, April 30, July 30 and October 30" for "semiannually on or before July 30 and January 30" near the middle of Subsection A.
NM Stat § 58-11-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-8 - Records of the division.

A. Information from the records of the division, including division examination reports of which a credit union has possession, is not public records, shall be revealed only with the consent of the director and is not subject to subpoena. B. Reports of examinations made by the division shall be retained for five years. C. A copy of any document on file with the division which is certified by the director as being a true copy may be introduced in court as if it were the original. History: Laws 1987, ch. 311, § 8. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repeals 58-11-8 NMSA 1978, as amended by Laws 1985, ch. 30, § 4, relating to reports, examinations and fees, effective June 19, 1987, and enacts the present section. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997. Director has supervisory control over credit unions and may revoke or suspend charters after hearing for a violation of any of the provisions of Section 58-11-1 NMSA 1978 et seq. 1960 Op. Att'y Gen. No. 60-165. Am. Jur. 2d, A.L.R. and C.J.S. references. — 13 Am. Jur. 2d Building and Loan Associations § 106. 12 C.J.S. Building and Loan Associations § 4.
NM Stat § 58-11-9 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-9 - Conflicts of interest.

No officer or employee of the division having supervisory authority over credit unions shall be a member, executive officer, director, attorney or employee of any credit union incorporated under or subject to the provisions of the Credit Union Act; receive, directly or indirectly, any payment of gratuity from any such credit union; or be indebted to or engage in the negotiation of loans for others with any such credit union. History: Laws 1987, ch. 311, § 9; 1991, ch. 51, § 4; 1997, ch. 195, § 5. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed former 58-11-9 NMSA 1978, as amended by Laws 1975, ch. 344, § 9, relating to disposition of fees, effective June 19, 1987, and enacted a new 58-11-9 NMSA 1978. Laws 1987, ch. 298, § 3, purported to amend former 58-11-9 NMSA 1978 but could not be given effect because of the subsequent repeal by laws 1987, ch. 311, § 9. The 1997 amendment, effective July 1, 1997, substituted "Credit Union Act" for "Credit Union Regulatory Act". Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997. The 1991 amendment, effective July 1, 1991, inserted "executive" and substituted "attorney or employee" for "or attorney".
NM Stat § 58-11-11 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-11 - Forms of articles and bylaws.

In order to simplify the organization of credit unions, the director shall cause to be prepared model articles of organization and bylaws, consistent with the Credit Union Act, which may be used by credit union organizers for their guidance. Such articles of organization and bylaws shall be available to persons desiring to organize a credit union. History: Laws 1987, ch. 311, § 11; 1997, ch. 195, § 7. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed 58-11-11 NMSA 1978, as amended by Laws 1975, ch. 344, § 11, relating to elections, effective June 19, 1987, and enacted a new section. The 1997 amendment, effective July 1, 1997, substituted "Credit Union Act" for "Credit Union Regulatory Act" in the first sentence. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.
NM Stat § 58-11-12 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-12 - Amendments.

A. The articles of organization and the bylaws may be amended as provided in the articles and bylaws, respectively. Amendments to the articles of organization or bylaws shall be submitted to the director who shall approve or disapprove the proposed amendments within thirty days after submission. B. The director shall not approve any amendment to articles or bylaws which he determines would be detrimental to any credit union's safety or soundness or to the welfare of a credit union's members. No amendment shall become effective until approved by the director. If the director disapproves any proposed amendment, the credit union may appeal the disapproval to the court of appeals within thirty days. History: Laws 1987, ch. 311, § 12. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed 58-11-12 NMSA 1978, as amended by Laws 1975, ch. 344, § 12, relating to directors and officers, effective June 19, 1987, and enacted the present section. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.
NM Stat § 58-11-13 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-13 - Use of name exclusive.

A. The name of every credit union organized under or subject to the Credit Union Act shall include the phrase "credit union". No credit union shall adopt a name either identical to the name of any other credit union doing business in this state or so similar to the name of any other credit union doing business in this state as to be misleading or to cause confusion. B. No person other than a credit union organized under or subject to the Credit Union Act, the Federal Credit Union Act or a credit union authorized to do business in this state under Section 58-11-16 NMSA 1978, an association of credit unions or an organization, corporation or association whose membership or ownership is primarily limited to credit unions or credit union organizations shall use a name or title containing the phrase "credit union" or any derivation thereof, represent itself as a credit union or conduct business as a credit union. C. Violation of this section is a fourth degree felony. D. The director may petition the district court of Santa Fe county to enjoin a violation of this section. History: Laws 1987, ch. 311, § 13; 1997, ch. 195, § 8. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed 58-11-13 NMSA 1978, as amended by Laws 1975, ch. 344, § 13, relating to credit committee, effective June 19, 1987, and enacted the present section. Cross references. — For the Federal Credit Union Act, see 12 U.S.C. § 1751. The 1997 amendment, effective July 1, 1997, substituted "Credit Union Act" for "Credit Union Regulatory Act" in Subsections A and B, substituted "Section 58-11-16 NMSA 1978" for "Section 16 of the Credit Union Regulatory Act" in Subsection B, and substituted "is" for "constitutes" in Subsection C. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.
NM Stat § 58-11-14 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-14 - Service facilities.

A. A credit union may change its principal place of business within this state upon thirty days notice to the director. B. A credit union may provide services through service facilities. C. A credit union may individually or in conjunction with other credit unions or other financial organizations operate or maintain automated terminals or other service facilities. History: Laws 1987, ch. 311, § 14; 1997, ch. 195, § 9. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed 58-11-14 NMSA 1978, as amended by Laws 1975, ch. 344, § 14, relating to supervisory committee, effective June 19, 1987, and enacted a new section. The 1997 amendment, effective July 1, 1997, substituted "Service" for "Office" in the section heading, rewrote Subsection B, and made stylistic changes throughout Subsection C. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.
NM Stat § 58-11-15 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-15 - Fiscal year.

The fiscal year of each credit union organized under or subject to the Credit Union Act shall end on the last day of December. History: Laws 1987, ch. 311, § 15; 1997, ch. 195, § 10. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed 58-11-15 NMSA 1978, as amended by Laws 1973, ch. 65, § 5, relating to capital, effective June 19, 1987, and enacted a new section. The 1997 amendment, effective July 1, 1997, substituted "Credit Union Act" for "Credit Union Regulatory Act". Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.
NM Stat § 58-11-17 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-17 - Doing business outside this state.

A credit union organized under or subject to the Credit Union Act may do business outside this state, provided that it is legal for it to do so in the foreign state or territory involved. If the director deems it necessary to conduct an examination of the out-of-state office of a credit union, the actual expenses of the examination shall be paid by the credit union examined if the director determines it has violated the provisions of the Credit Union Act or other state laws or federal laws or regulations. History: Laws 1987, ch. 311, § 17; 1997, ch. 195, § 12. ANNOTATIONSCompiler's notes. — For prior law, see the laws that were repealed by Laws 1981, ch. 263, §4. The 1997 amendment, effective July 1, 1997, substituted "Credit Union Act" for "Credit Union Regulatory Act" in the first sentence, added "if the director determines it has violated the provisions of the Credit Union Act or other state laws or federal laws or regulations" at the end of the second sentence, and made stylistic changes throughout the second sentence.
NM Stat § 58-11-18 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 11 - Credit Unions|Section 58-11-18 - Powers of credit unions.

In addition to the powers authorized elsewhere in the Credit Union Act, a credit union may: A. enter into contracts of any nature; B. sue and be sued; C. adopt, use and display a corporate seal; D. acquire, lease, hold, assign, pledge, hypothecate, sell and discount or otherwise dispose of property or assets, either in whole or in part, necessary or incidental to its operations; E. lend funds to members; F. borrow from any source; provided that a credit union shall have prior approval of the director before borrowing in excess of an aggregate of fifty percent of its capital; G. purchase the assets of another credit union, subject to the approval of the director; H. offer various financial services approved by the director; I. hold membership in other credit unions organized under the Credit Union Act, the Federal Credit Union Act or other acts and in associations and organizations controlled by or fostering the interests of credit unions, including a central liquidity facility organized under state or federal law; J. engage in activities and programs as requested by any governmental unit; K. act as fiscal agent and receive payments on deposit accounts from a governmental unit; L. sell or offer to sell insurance to the same extent allowed by law to other state chartered lending institutions; and M. provide services to persons within the credit union's field of membership, including electronic funds transfers and the sale and negotiation of instruments, including money orders, traveler's checks and stored value cards. History: Laws 1987, ch. 311, § 18; 1997, ch. 195, § 13; 2003, ch. 28, § 5. ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed 58-11-18 NMSA 1978, as amended by Laws 1975, ch. 344, § 16, relating to power to borrow, effective June 19, 1987, and enacted a new section. Cross references. — For the Federal Credit Union Act, see 12 U.S.C. § 1751. The 2003 amendment, effective June 20, 2003, added Subsection M. The 1997 amendment, effective July 1, 1997, substituted "Credit Union Act" for "Credit Union Regulatory Act" in the introductory paragraph and in Subsection I, added Subsection L, and made minor stylistic changes in Subsections F, J and K. Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.