reglab/housing_qa huggingface dataset:
NM Stat § 58-1B-9 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1B - Interstate Bank Acquisitions|Section 58-1B-9 - Agency activities.

A. If it complies with the requirements of this section, a New Mexico state bank may agree to act as an agent for any affiliated bank depository institution to receive deposits, renew time deposits, close loans, service loans, receive payments on loans and other obligations and perform other services for which it has received the prior approval of the director. B. A New Mexico state bank that proposes to enter into an agency agreement pursuant to this section shall file with the director, at least thirty days before the effective date of the agreement: (1) a notice of intention to enter into an agency agreement with an affiliated depository institution; (2) a description of the services proposed to be performed under the agency agreement; and (3) a copy of the agency agreement. C. If any proposed service is not specifically designated in Subsection A of this section and has not been approved previously in a regulation issued by the director, the director shall decide, within thirty days after receipt of the notice required by Subsection B of this section, whether to approve the offering of the service. If the director requests additional information after reviewing the notice, the time limit for the director's decision is thirty days after receiving the additional information. In deciding whether to approve a proposed service, the director shall consider whether the service would be consistent with state and federal law and the safety and soundness of the principal and agent institutions. The New Mexico state bank shall give appropriate notice to the public of each approval. D. Any proposed service offered pursuant to Subsection C of this section is deemed approved if the director takes no action after receiving the notice required by Subsection B of this section within the time limits specified in Subsection C of this section. E. A New Mexico state bank may not pursuant to an agency agreement: (1) conduct any activity as an agent that it would be prohibited from conducting as a principal under applicable state or federal law; or (2) have an agent conduct any activity that the bank as principal would be prohibited from conducting under applicable state or federal law. F. The director may order a New Mexico state bank or any other depository institution that is subject to the director's enforcement powers to cease acting as an agent or principal under an agency agreement with an affiliated depository institution if the director finds the provisions of the agency agreement or the actions of the parties pursuant to it to be inconsistent with safe and sound banking practices. G. A New Mexico state bank acting as an agent for an affiliated depository institution in accordance with this section is not a branch bank of that institution. History: Laws 1996, ch. 2, § 9. ANNOTATIONS
NM Stat § 58-1B-10 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1B - Interstate Bank Acquisitions|Section 58-1B-10 - Authority to issue regulations; cooperative agreements; fees.

To carry out the purposes of the Interstate Bank Acquisition Act, the director may: A. adopt regulations; B. enter into cooperative, coordinating or information-sharing agreements with a bank supervisory agency or an organization affiliated with or representing a bank supervisory agency; C. accept a report of examination or investigation by a bank supervisory agency having concurrent jurisdiction over a New Mexico state bank or a bank holding company that controls a New Mexico state bank in lieu of conducting an examination or investigation of the bank or bank holding company; D. enter into a sole source contract pursuant to Section 13-1-126 NMSA 1978 with a bank supervisory agency having concurrent jurisdiction over a New Mexico state bank or a bank holding company that controls a New Mexico state bank to engage the services of that agency's examiners at a reasonable rate of compensation, or to provide the services of the director's examiners to that agency at a reasonable rate of compensation; E. conduct joint examinations or joint enforcement actions with a bank supervisory agency having concurrent jurisdiction over a New Mexico state bank or a bank holding company that controls a New Mexico state bank, but if the examination or enforcement action involves an out-of-state bank holding company, the director shall recognize the exclusive authority of the home state regulator over corporate governance matters and the primary responsibility of the home state regulator with respect to safety and soundness matters; F. conduct examinations and enforcement actions of a New Mexico state bank or a New Mexico bank holding company that controls a New Mexico state bank if the director determines that the action is necessary to carry out the director's responsibilities pursuant to the Interstate Bank Acquisition Act or to enforce compliance with the laws of this state; and G. include in regulations adopted provisions for: (1) the assessment of supervisory and examination fees to be paid by New Mexico banks and New Mexico bank holding companies in connection with the director's performance of his duties; and (2) sharing of fees assessed pursuant to Paragraph (1) of this subsection with a bank supervisory agency or an organization affiliated with or representing a bank supervisory agency in accordance with an agreement between it and the director. History: Laws 1996, ch. 2, § 10. ANNOTATIONS
NM Stat § 58-1B-11 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1B - Interstate Bank Acquisitions|Section 58-1B-11 - Enforcement.

The director may enforce the provisions of the Interstate Bank Acquisition Act by an action for injunctive relief in the district court of Santa Fe county. The director shall give notice promptly to the home state regulator of any action commenced by the director against an out-of-state bank holding company and, to the extent practicable, shall consult and cooperate with that regulator in pursuing and resolving the enforcement action. History: Laws 1996, ch. 2, § 11. ANNOTATIONSSeverability clauses. — Laws 1996, ch. 2, § 12 provides that if any part of the Interstate Bank Acquisition Act is held invalid or to be superseded, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 58-1C-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-1 - Short title.

Sections 14 through 27 [58-1C-1 to 58-1C-13 NMSA 1978] of this act may be cited as the "Interstate Bank Branching Act". History: Laws 1996, ch. 2, § 14. ANNOTATIONSCross references. — For the Interstate Bank Acquisition Act, see Chapter 58, Article 1B NMSA 1978.
NM Stat § 58-1C-2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-2 - Purpose.

The purpose of the Interstate Bank Branching Act is to permit interstate bank branching by merger pursuant to the provisions of the federal Regle-Neal Interstate Banking and Branching Efficiency Act of 1994, P.L. 103-328. History: Laws 1996, ch. 2, § 15. ANNOTATIONSCompiler's notes. — The Regle-Neal Interstate Banking and Branching Efficiency Act primarily amended several sections throughout Title 12 of the United States Code.
NM Stat § 58-1C-4 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-4 - Authority of state banks to establish interstate branches by merger.

A. If it obtains the prior approval of the director, a New Mexico state bank may establish, maintain and operate one or more branches in a state other than New Mexico pursuant to an interstate merger transaction in which the New Mexico state bank is the resulting bank. B. Not later than the date on which the required application for the interstate merger transaction is filed with the responsible federal bank supervisory agency, the applicant New Mexico state bank shall file the documents and information required by Subsections A and B of Section 58-4-4 NMSA 1978 and pay a fee in an amount that shall be prescribed by the director by rule. C. The director shall approve the interstate merger transaction and the operation of branches outside of New Mexico by the New Mexico state bank if he finds that: (1) the proposed transaction will not be detrimental to the safety and soundness of the applicant or the resulting bank; (2) any new officers and directors of the resulting bank are qualified by character, experience and financial responsibility to direct and manage the resulting bank; and (3) the proposed merger is consistent with the convenience and needs of the communities to be served by the resulting bank in this state and is otherwise in the public interest. D. The interstate merger transaction may be effected only after the applicant has received the director's written approval. History: Laws 1996, ch. 2, § 17. ANNOTATIONSCross references. — For merger and consolidation of banks, see Chapter 58, Article 4 NMSA 1978.
NM Stat § 58-1C-5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-5 - Interstate merger transactions and branching permitted.

A. One or more New Mexico banks may enter into an interstate merger transaction with one or more out-of-state banks pursuant to the Interstate Bank Branching Act, and an out-of-state bank resulting from the transaction may maintain and operate as branches in New Mexico the former New Mexico banks that participated in the transaction if the conditions and filing requirements of that act are met. B. Except as otherwise expressly provided in this subsection, an interstate merger transaction is not permitted pursuant to the Interstate Bank Branching Act if, upon effecting the transaction, the resulting bank, including all insured depository institutions that would be affiliates, as defined in 12 U.S.C.A. Section 1841(k), of the resulting bank, would result in an undue concentration of deposits totaling forty percent or more of the total deposits in all depository institutions in New Mexico. The director may by regulation adopt a procedure to waive the foregoing prohibition to prevent the insolvency or closing of a New Mexico state bank. C. An interstate merger transaction resulting in the acquisition by an out-of-state bank of a New Mexico bank is not permitted pursuant to the Interstate Bank Branching Act, unless the New Mexico bank on the date of the acquisition has been in continuous operation under an active charter for a period of at least five years. History: Laws 1996, ch. 2, § 18. ANNOTATIONS
NM Stat § 58-1C-6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-6 - De novo branching and acquisition of individual branches not permitted.

Interstate branching, either de novo or by acquisition of one or more branches, not involving all or substantially all of the assets and branches of a New Mexico bank is prohibited. History: Laws 1996, ch. 2, § 19. ANNOTATIONS
NM Stat § 58-1C-7 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-7 - Notice and filing requirements.

An out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a New Mexico state bank shall notify the director of the proposed merger no later than the date on which it files an application for an interstate merger transaction with the responsible federal bank supervisory agency. The out-of-state bank shall submit a copy of that application to the director and pay a fee in an amount that the director shall prescribe by regulation. Any New Mexico state bank that is a party to the interstate merger transaction shall comply with all applicable state and federal laws. History: Laws 1996, ch. 2, § 20. ANNOTATIONS
NM Stat § 58-1C-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-8 - Condition for interstate merger prior to June 1, 1997.

An interstate merger transaction prior to June 1, 1997 resulting in a New Mexico branch of an out-of-state bank shall not be consummated and any out-of-state bank resulting from such a merger shall not operate a branch in New Mexico, unless the director first: A. finds that the laws of the home state of each out-of-state bank involved in the interstate merger transaction permit New Mexico state banks, under substantially the same terms and conditions as are set forth in the Interstate Bank Branching Act, to acquire banks and establish and maintain branches in that state by means of interstate merger transactions; B. concludes that the resulting out-of-state bank has complied with all applicable requirements of New Mexico law and has agreed in writing to comply with the laws of this state applicable to its operation of branches in New Mexico; and C. certifies to the federal bank supervisory agency having authority to approve the interstate merger transaction that the conditions and requirements of the Interstate Bank Branching Act have been met. History: Laws 1996, ch. 2, § 21. ANNOTATIONS
NM Stat § 58-1C-9 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-9 - Powers; additional branches.

A. An out-of-state state bank with branches in New Mexico authorized pursuant to the Interstate Bank Branching Act may conduct any activities at its branches that are authorized pursuant to the laws of this state for New Mexico state banks. B. A New Mexico state bank may conduct any activities at any branch outside New Mexico that are permissible for a bank chartered by the host state where the branch is located. C. An out-of-state bank that has acquired branches in New Mexico under the Interstate Bank Branching Act may establish or acquire additional branches in New Mexico to the same extent that any New Mexico bank may establish or acquire a branch in New Mexico pursuant to applicable federal and state law. History: Laws 1996, ch. 2, § 22. ANNOTATIONS
NM Stat § 58-1C-11 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-11 - Enforcement.

If the director determines that a branch maintained by an out-of-state state bank in this state is being operated in violation of the laws of this state, is not reasonably meeting the credit needs of the community served or is being operated in an unsafe and unsound manner, the director may take the same enforcement actions he could take if the branch were a New Mexico state bank. The director shall give notice promptly to the home state regulator of an enforcement action taken against an out-of-state state bank and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing and resolving the enforcement action. History: Laws 1996, ch. 2, § 24. ANNOTATIONS
NM Stat § 58-1C-12 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-12 - Regulations.

The director may adopt regulations necessary or appropriate to implement the provisions of the Interstate Bank Branching Act. History: Laws 1996, ch. 2, § 25. ANNOTATIONS
NM Stat § 58-1C-13 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 1C - Interstate Bank Branching|Section 58-1C-13 - Notice of subsequent merger and other transactions.

An out-of-state state bank that has established and maintains a branch in this state pursuant to the Interstate Bank Branching Act shall give at least thirty days prior written notice or, in the case of an emergency transaction, shorter notice consistent with applicable state or federal law to the director of any merger, consolidation or other transaction that would cause a change of control with respect to the bank or any bank holding company that controls the bank if the result of the transaction would require an application to be filed pursuant to the federal Change in Bank Control Act of 1978, 12 U.S.C.A. Section 1817(j) or the federal Bank Holding Company Act of 1956, 12 U.S.C.A. Section 1841 et seq. History: Laws 1996, ch. 2, § 26. ANNOTATIONSSeverability clauses. — Laws 1996, ch. 2, § 27 provides that if any part of the Interstate Branch Banking Act is held invalid or to be superseded, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 58-2-1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 2 - Insurance of Bank Deposits|Section 58-2-1 - ["Banking institution" defined.]

The term "banking institution," as used in this act [58-2-1 to 58-2-8 NMSA 1978] shall be construed to mean any bank, trust company, bank and trust company, stock savings bank or mutual savings bank, which is now or may hereafter be organized under the laws of this state. History: Laws 1935, ch. 16, § 1; 1941 Comp., § 50-1101; 1953 Comp., § 48-11-1. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 1. 9 C.J.S. Banks and Banking § 2.
NM Stat § 58-2-2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 2 - Insurance of Bank Deposits|Section 58-2-2 - [Acceptance of federal laws.]

Any banking institution now or hereafter reorganized under the laws of this state is hereby empowered, on the authority of its board of directors, or a majority thereof, to enter into such contracts, incur such obligations and generally to do and perform any and all such acts and things whatsoever as may be necessary or appropriate in order to take advantage of any and all memberships, loans, subscriptions, contracts, grants, rights or privileges, which may at any time be available or endure [enure] to banking institutions or to their depositors, creditors, stockholders, conservators, receivers or liquidators, by virtue of those provisions of Section 8, of the federal "Banking Act of 1933" (Sec. 12B of the Federal Reserve Act, as amended), which establish the federal deposit insurance corporation and provide for the insurance of deposits, or of any other provisions of that or of any other act or resolution of congress to aid, regulate or safeguard banking institutions and their depositors, including any amendments of the same or any substitutions therefor; also, to subscribe for and acquire any stock, debentures, bonds or other types of securities of the federal deposit insurance corporation and to comply with the lawful regulations and requirements from time to time issued or made by such corporation. History: Laws 1935, ch. 16, § 2; 1941 Comp., § 50-1102; 1953 Comp., § 48-11-2. ANNOTATIONSFederal Reserve Act. — Section 12B of the Federal Reserve Act, as amended, referred to in this section, relating to the federal deposit insurance corporations, was withdrawn from the Federal Reserve Act and made a separate act, known as the Federal Deposit Insurance Act by 64 Stat. 873, and now is compiled in the United States Code as 12 U.S.C. §§ 1811 to 1832. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 427. Rights of owners of securities deposited in bank to payment out of guaranty fund, 51 A.L.R. 920, 84 A.L.R. 1534, 126 A.L.R. 625. Insolvency of bank guaranty fund as affecting rights or obligations of member banks and their depositors, 78 A.L.R. 808. Bank guaranty laws as special or class legislation, 111 A.L.R. 148. Draft, cashier's check or certified check, purchaser or holder of, as a depositor within statutes relating to guaranty or insurance of deposit liability, 111 A.L.R. 228. Federal Deposit Insurance Corporation Act, constitutionality and construction of criminal provision of, 114 A.L.R. 489. Trust business, constitutionality, construction and application of federal statute relating to power of national bank to engage in, 153 A.L.R. 410. Interest in respect of insured deposit, liability of federal deposit insurance corporation for, 153 A.L.R. 532. 9 C.J.S. Banks and Banking § 650.
NM Stat § 58-2-3 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 2 - Insurance of Bank Deposits|Section 58-2-3 - [Liquidation of banks by federal deposit insurance corporation.]

The federal deposit insurance corporation created by Section eight of the federal "Banking Act of 1933" (Section 12B of the Federal Reserve Act, as amended) is hereby authorized and empowered to be and act without bond as receiver or liquidator of any banking institution, the deposits in which are to any extent insured by said corporation, and which shall have been closed on account of inability to meet the demands of its depositors. The appropriate state authority, having the right to appoint a receiver or liquidator of a banking institution, may in the event of such closing tender to said corporation the appointment as receiver or liquidator of such banking institution, and if the corporation shall have and possess all the powers and privileges provided by the laws of this state with respect to a receiver or liquidator respectively of a banking institution, its depositors and other creditors, and be subject to all the duties of such receiver or liquidator, except insofar as such powers, privileges or duties are in conflict with the provisions of Subsection (1) of Section 12B of the Federal Reserve Act, as amended (Section 8 of said "Banking Act of 1933"). History: Laws 1935, ch. 16, § 3; 1941 Comp., § 50-1103; 1953 Comp., § 48-11-3. ANNOTATIONSCompiler's notes. — Section 12B of the Federal Reserve Act, as amended, referred to in this section, relating to the federal deposit insurance corporations, was withdrawn from the Federal Reserve Act and made a separate act, known as the Federal Deposit Insurance Act by 64 Stat. 873, and now is compiled in the United States Code as 12 U.S.C. §§ 1811 to 1832. Cross references. — For possession of and title to assets of closed banks, see 58-2-7 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 272. Construction and application of provisions of Federal Reserve Act regarding continuance of bank deposit insurance after termination of insured status of bank, 143 A.L.R. 1053. 9 C.J.S. Banks and Banking § 651.