reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 69 - BANK SERVICE CORPORATIONS › Section 12.16.69.8 - BANK SERVICE CORPORATIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				New Mexico state banks may invest and participate in bank service corporations
				under the Bank Service Corporation Act and subject to its provisions.
B. Requests for approval:
(1) No regulatory approval is required for a
				New Mexico state bank to invest in a bank service corporation that will perform
				only the services described in
				12
				U.S.C. Section 1863.
(2) New Mexico state banks shall apply for
				the approval of the director of the financial institutions division prior to
				investing in a bank service corporation that will perform services other than
				those described in
				12
				U.S.C. Section 1863. The application shall
				include a business plan for the proposed organization, with form and content
				acceptable to the director.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 75 - LOAN PRODUCTION OFFICES › Section 12.16.75.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
This section is issued pursuant to the authority provided by
				  Section
				  58-1-51
				  NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 75 - LOAN PRODUCTION OFFICES › Section 12.16.75.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
The regulation shall become effective upon filing pursuant to
				  the State Rules Act (Section 14-4-12 to
				  14-4-9
				  NMSA 1978). Issued this 5 day of August, 1985.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 75 - LOAN PRODUCTION OFFICES › Section 12.16.75.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
It is the purpose of this regulation to allow a bank which
				  receives prior approval by the financial institutions division to operate loan
				  production offices (LPO) in New Mexico. The establishment and operation of an
				  LPO by a bank shall not violate state branch banking restrictions provided that
				  the LPO is operated in accordance with the provisions of this
				  regulation.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 75 - LOAN PRODUCTION OFFICES › Section 12.16.75.8 - REGULATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. Any bank may,
				subject to the provisions of this regulation, establish one or more LPOs
				anywhere in the state of New Mexico.
B. Before a bank establishes and operates an
				LPO in New Mexico, that bank shall obtain the approval of the director of the
				financial institutions division. A request by a bank for such approval shall
				state:
(1) the location of the LPO,
(2) the number of officers and other
				personnel to be employed at each location; and
(3) the name and address of the bank at which
				loans will be approved or denied and disbursements made.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 76 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.16.76.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
All state chartered banks otherwise subject to the Home Loan
				  Protection Act, Sections
				  58-21A-1
				  to -14 NMSA 1978 (2003, as amended through 2004) ("Act").
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 76 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.16.76.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections
				  58-1-54
				  and
				  58-1-34 NMSA
				  1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 76 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.16.76.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
January 1, 2004, unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 76 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.16.76.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to grant state chartered banks
				  the same powers and authority to engage in banking activity that federally
				  chartered and insured depository institutions subject to the jurisdiction of
				  the federal government are authorized, empowered, permitted or otherwise
				  allowed to exercise.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 76 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.16.76.8 - FINDINGS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Within the
				meaning of Sections
				58-1-54
				and
				58-1-34 NMSA
				1978, national banks, federal savings associations and federal credit unions
				operating in New Mexico are federally chartered and insured depository
				institutions subject to the jurisdiction of the federal government.
B. The office of thrift supervision,
				department of the treasury, the "OTS," is authorized by federal legislation to
				regulate and supervise federal savings associations throughout the United
				States.
C. The office of the
				comptroller of the currency, department of the treasury, the "OCC," is
				authorized by federal legislation to regulate and supervise national banks
				throughout the United States.
D.
				The national credit union administration, the "NCUA," is authorized by federal
				legislation to regulate and supervise federal credit unions throughout the
				United States.
E. On September 2,
				2003 the OTS issued a letter ruling (the "OTS preemption") clarifying the fact
				that the following sections and subsections of the act (the "preempted sections
				of the act") are pre-empted by federal law from applying to federal savings
				associations operating in New Mexico:
(1)
				Section
				58-21A-4.A.
				and B. (prohibited practices and provisions regarding home loans);
(2) Section
				58-21A-5.A.,
				B., C., D., E., G., H., I., J., K., L., M., N., O., and P (limitations and
				prohibited practices for high-cost home loans);
(3) Section
				58-21A-6.A.,
				B., C., D., and E. (default; notice; right to cure);
(4) Section
				58-21A-9.A., B., and
				C. (civil action);
(5) Section
				58-21A-11.B.
				and C. (actions based on home loans);
(6) Section
				58-21A-12.
				(application of Unfair Practices Act); and
(7) Section
				58-21A-13.
				(attorney general; enforcement of rules).
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 16 - BANKING › Part 76 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.16.76.9 - AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
State chartered banks are provided the same powers and
				  authority granted to federal savings associations, national banks and federal
				  credit unions as a result of the OTS, OCC and NCUA
				  preemptions.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 1 - GENERAL PROVISIONS › Section 12.17.1.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, Post Office Box 25101, Santa Fe, New Mexico
				  87504
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 1 - GENERAL PROVISIONS › Section 12.17.1.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 31, 1997, unless a later date is cited at the end of
				  a section or paragraph.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 1 - GENERAL PROVISIONS › Section 12.17.1.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Director" means
				the director of the financial institutions division of the regulation and
				licensing department.
B. "Risk
				assets" as used in the act means all assets except the following categories:
(1) cash on hand (includes foreign currency
				converted into U.S. dollar equivalents);
(2) collected deposits or shares in federally
				insured banks, savings and loan associations and natural person credit unions
				having a remaining maturity of five years or less and not to exceed
				$100,000;
(3) collected deposits or
				shares in a corporate credit union having a remaining maturity of five years or
				less, other than membership capital share deposit accounts as defined in NCUA
				Rules and Regulations Part 704;
(4)
				assets are insured by, fully guaranteed as to principal and interest by or due
				from the United States or any agency thereof, this state or any political
				subdivision thereof, the federal national mortgage association or the
				government national mortgage association having a maturity of five years or
				less;
(5) loans to students insured
				under the provisions of Title IV, Part B of the Higher Education Act of 1965 (
				20
				U.S.C. Section 1071 et seq.) or similar
				insurance programs of this state;
(6) loans having a remaining maturity of
				three years or less and are fully or partially insured or guaranteed by the
				United States, this state or any agency of either;
(7) common trust investments which deal in
				investments authorized by the Credit Union Act;
(8) prepaid expenses;
(9) accrued interest on non-risk
				investments;
(10) fixed assets as
				defined in NCUA Rules and Regulations Section 701.36 (b);
(11) loans fully secured by a pledge of
				shares in the lending credit union, equal to and maintained to at least the
				amount of the loan outstanding;
(12) loans purchased from liquidating credit
				unions and guaranteed by the national credit union administration;
(13) national credit union share insurance
				fund guaranty accounts established with the authorization of the national
				credit union administration under the authority of Title II of the Federal
				Credit Union Act Section 208(a) (1); and
(14) investments in shares of the national
				credit union administration central liquidity facility.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 2 - CREDIT UNION BRANCHES › Section 12.17.2.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504.
				  Telephone No. (505) 827-7100
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 2 - CREDIT UNION BRANCHES › Section 12.17.2.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
November 14, 1990, unless a later date is cited at the end of
				  a section or paragraph. Reformatted in NMAC format September 30,
				  1997.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 2 - CREDIT UNION BRANCHES › Section 12.17.2.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
"Branch" means any branch credit union, branch office, branch
				  agency, additional office or any branch place of business located in this state
				  or in any other of the United States where such location could be accomplished
				  in compliance with applicable state law, at which deposits to members' accounts
				  are accepted or money lent.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 2 - CREDIT UNION BRANCHES › Section 12.17.2.8 - CREDIT UNION BRANCHES

Current through Register Vol. 35, No. 13, July 16, 2024
A credit union desiring to establish a branch shall give the
				  director notice thereof on a form prescribed by the director. The director
				  shall advise the credit union within 30 days following receipt of said notice
				  that he has no objection to the branch, unless he is of the opinion that:
(a) the proposed branch would not be
				beneficial to and would not serve the needs of the credit union's members, or
(b) the operation of the proposed
				branch would substantially adversely affect the earnings and reserves of the
				credit union. If the director fails to act on said notice within such 30 days,
				such inaction shall be deemed and considered as no objection by the director.
				In the event that the director is of the opinion that either of the two factors
				above set forth does exist, he shall by letter so advise the credit union and
				shall set a hearing on the establishment of the branch, which setting shall be
				within 30 days of the date of said letter. At the hearing the credit union
				shall be afforded the opportunity of refuting such evidence as the director may
				cause to be presented on the factors above set forth. Following such hearing
				the director shall enter an order setting forth his findings and
				conclusions.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 3 - MERGERS OF CREDIT UNIONS: RESULTING STATE CREDIT UNION › Section 12.17.3.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504.
				  Telephone No. (505) 827-7100.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 3 - MERGERS OF CREDIT UNIONS: RESULTING STATE CREDIT UNION › Section 12.17.3.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections
				  58-11-3
				  and
				  58-11-59
				  NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 3 - MERGERS OF CREDIT UNIONS: RESULTING STATE CREDIT UNION › Section 12.17.3.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 19, 1990, unless a later date is cited at the end of
				  a section or paragraph. Reformatted in NMAC effective
				  9/30/97.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 3 - MERGERS OF CREDIT UNIONS: RESULTING STATE CREDIT UNION › Section 12.17.3.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to regulate mergers of state
				  credit unions.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 3 - MERGERS OF CREDIT UNIONS: RESULTING STATE CREDIT UNION › Section 12.17.3.8 - MERGERS OF CREDIT UNIONS: RESULTING STATE CREDIT UNION

Current through Register Vol. 35, No. 13, July 16, 2024
A. The board of directors of each merging
				credit union shall, by a majority of the entire board, approve a merger plan
				which shall include:
(1) a statement or
				recital that the agreement is subject to approval by the director of the
				financial institutions division and has been approved by a majority vote of the
				members of each merging credit union;
(2) the name of each merging credit union and
				location of each branch office;
(3)
				individual financial reports for each merging credit union;
(4) consolidated financial reports;
(5) proposed share adjustments;
(6) provisions with respect to notification
				and payment of creditors of each merging credit union;
(7) explanation of any changes relating to
				insurance of members' shares and deposits resulting from the merger;
(8) with respect to the resulting credit
				union:
(a) the name and location of the
				principal and other offices;
(b)
				the name and residence of each director to serve until the next annual meeting
				of the members; and
(c) the
				amendment to its charter and bylaws;
(9) such other provisions as the director of
				financial institutions division may require to enable him to discharge his
				duties with respect to the merger.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 4 - CREDIT UNION SERVICE ORGANIZATION › Section 12.17.4.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504.
				  Telephone No. (505) 827-7100.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 4 - CREDIT UNION SERVICE ORGANIZATION › Section 12.17.4.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 19, 1990, unless a later date is cited at the end of
				  a section or paragraph. Reformatted in NMAC format 9/30/97.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 4 - CREDIT UNION SERVICE ORGANIZATION › Section 12.17.4.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to provide for the formation of
				  credit union service organizations by state credit unions.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 4 - CREDIT UNION SERVICE ORGANIZATION › Section 12.17.4.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Credit union
				service organization" is an entity defined in Sections 107(5) (D) and 107(7)
				(I) of the Federal Credit Union Act (
				12 U.S.C.
				Sections 1757(5) (D) and
				1757(7)
				(I) and Part 701.27 of the NCUA Rules and
				Regulations [ 12 C.F.R. Section 701.27 ].
B. "Paid-in and unimpaired capital and
				surplus" means the balance of the paid-in share accounts and deposits, less any
				loss that may have been incurred for which there is no reserve or which has not
				been charged against undivided earnings, plus the credit balance (or less the
				debit balance) of the undivided earnings account, after all losses have been
				provided for and net earnings or net losses have been added thereto or deducted
				therefrom. Reserves shall not be considered as part of surplus.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 4 - CREDIT UNION SERVICE ORGANIZATION › Section 12.17.4.8 - CREDIT UNION SERVICE ORGANIZATIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The purpose of a credit union service
				organization is to provide those goods and services and perform those functions
				that are associated with routine credit union operations. It may provide any or
				all of the following functions or services:
(1) credit card and debit card services, ATM
				services, accounting systems, data processing, management training and support,
				payment item processing, record retention and storage, locator services,
				research services, debt collection services, credit analysis and loan servicing
				and coin and currency services;
(2)
				family financial services including, but not limited to, financial planning and
				counseling, including retirement counseling, estate planning and income tax
				preparation, developing and administering IRA and Keogh plans and other
				personal benefit plans and provision of trust services including acting as
				trustee or in any other similar fiduciary capacity;
(3) personal property leasing and developing
				of leasing plans; and
(4) other
				services, as determined by the director, that are associated with the routine
				operation of credit unions.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 5 - TRUSTEES AND CUSTODIANS OF PENSION PLANS › Section 12.17.5.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504.
				  Telephone No. (505) 827-7100.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 5 - TRUSTEES AND CUSTODIANS OF PENSION PLANS › Section 12.17.5.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections
				  58-11-20
				  and
				  58-11-54 NMSA
				  1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 5 - TRUSTEES AND CUSTODIANS OF PENSION PLANS › Section 12.17.5.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 19, 1990, unless a later date is cited at the end of
				  a section or paragraph. Reformatted in NMAC format 9/30/97.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 5 - TRUSTEES AND CUSTODIANS OF PENSION PLANS › Section 12.17.5.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to enable credit unions to act
				  as trustees or custodians of retirement plans of their
				  members.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 5 - TRUSTEES AND CUSTODIANS OF PENSION PLANS › Section 12.17.5.8 - TRUSTEES AND CUSTODIANS OF PENSION PLANS

Current through Register Vol. 35, No. 13, July 16, 2024
A credit union may act as trustee or custodian of individual
				  retirement plans of its members established pursuant to the Employee Retirement
				  Income Security Act of 1974 or self-employed retirement plans established
				  pursuant to the Self-employed Individuals Retirement Act of 1962, provided that
				  the following conditions are met:
A.
				all contributions of the funds are initially made to a share, share certificate
				or deposit account in the credit union;
B. any subsequent transfer of funds to other
				assets is solely at the direction of the member, and the credit union exercises
				no investment discretion and provides no investment advice with respect to the
				plan assets (i.e., the credit union performs only custodial duties);
C. the member is clearly notified of the fact
				that share and deposit insurance coverage by the national credit union
				administration is limited to funds held in share, share certificate or deposit
				accounts of the credit union; and
D. the credit union complies with all
				applicable provisions of the Federal Credit Union Act, the national credit
				union administration rules and regulations as applied by the director of the
				financial institutions division, and applicable laws and regulations as may be
				promulgated by the secretary of labor, the secretary of the treasury or any
				other authority exercising jurisdiction over such trust or custodial
				accounts.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 6 - INVESTMENTS › Section 12.17.6.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504.
				  Telephone No. (505) 827-7100.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 6 - INVESTMENTS › Section 12.17.6.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
November 8, 1993 unless a later date is cited at the end of a
				  section or paragraph. Reformatted in NMAC format effective
				  9/30/97.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 6 - INVESTMENTS › Section 12.17.6.8 - INVESTMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Supplemental to
				Section 58-11-56(C) and (D) NMSA 1978, credit unions may invest funds not
				required to satisfy member loan demands in the following:
(1) financial institutions that are insured
				by an agency of the federal government; and
(2) credit unions, central credit unions or
				corporate credit unions that are insured by the national credit union
				administration.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 8 - RECORDS, ACCOUNTING SYSTEMS AND PROCEDURES › Section 12.17.8.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, P.O. Box 25101, Santa Fe, New Mexico
				  87504.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 8 - RECORDS, ACCOUNTING SYSTEMS AND PROCEDURES › Section 12.17.8.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 31, 1997, unless a later date is cited at the end of
				  a section or paragraph.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 8 - RECORDS, ACCOUNTING SYSTEMS AND PROCEDURES › Section 12.17.8.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to establish a definition of
				  records maintenance and accounting systems and procedures pursuant to Section
				  58-11-6(A) NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 8 - RECORDS, ACCOUNTING SYSTEMS AND PROCEDURES › Section 12.17.8.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Full and fair
				disclosure" means the level of disclosure which a prudent person would provide
				to a member of a credit union, the financial institutions division, the
				national credit union administration or, at the discretion of the board of
				directors, a creditor in order to fairly inform any or all of them of the
				financial condition and the results of operations of the credit union at any
				given time.
B. "Record maintenance
				and accounting systems and procedures" means the use of an accounting method
				provided for in the accounting manual for federal credit unions, which shall be
				either the modified cash basis or the accrual basis of accounting and the use
				of appropriate financial statements described in the accounting manual
				referenced above.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 8 - RECORDS, ACCOUNTING SYSTEMS AND PROCEDURES › Section 12.17.8.8 - ISSUING AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
The issuing agency is responsible for ensuring that the
				  requirements set forth in this part have been complied with.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 8 - RECORDS, ACCOUNTING SYSTEMS AND PROCEDURES › Section 12.17.8.9 - DISCLOSURE AND ACCOUNTING

Current through Register Vol. 35, No. 13, July 16, 2024
Full and fair disclosure is the level of disclosure a prudent
				  person would provide to a member of a credit union, NCUA, this division or a
				  creditor in order to fairly inform them of the financial condition and the
				  results of operations. While it is one consideration when deciding on the
				  amount to set aside in a reserve, fair representation is also a component when
				  making appropriate board policies and procedures, implementing relevant
				  corrective action requests and/or securing adequate credit commitments for the
				  credit union.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 9 - RECORD RETENTION › Section 12.17.9.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, Post Office Box 25101, Santa Fe, New Mexico
				  87504.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 9 - RECORD RETENTION › Section 12.17.9.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 31, 1997, unless a later date is cited at the end of
				  a section or paragraph.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 9 - RECORD RETENTION › Section 12.17.9.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to establish a definition of
				  record retention pursuant to Subsection B of Section
				  58-11-6 NMSA
				  1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 9 - RECORD RETENTION › Section 12.17.9.8 - ISSUING AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
The issuing agency is responsible for ensuring that the
				  requirements set forth in this part have been complied with.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 9 - RECORD RETENTION › Section 12.17.9.9 - REQUIREMENTS FOR NCUA INSURANCE

Current through Register Vol. 35, No. 13, July 16, 2024
State chartered credit unions, insured pursuant to Title II
				  of the Federal Credit Union Act and Part 741.215 of NCUA Rules and Regulations,
				  must maintain a records preservation program as prescribed by NCUA Rules and
				  Regulations Part 749.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 10 - REPORTS AND FORMS › Section 12.17.10.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department. Post Office Box 25101, Santa Fe, New Mexico
				  87504.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 10 - REPORTS AND FORMS › Section 12.17.10.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 31, 1997, unless a later date is cited at the end of
				  a section or paragraph.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 10 - REPORTS AND FORMS › Section 12.17.10.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to establish a definition of
				  semi-annual reports and forms pursuant to Section 58-11-7(A) NMSA
				  1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 10 - REPORTS AND FORMS › Section 12.17.10.8 - ISSUING AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
The issuing agency is responsible for ensuring that the
				  requirements set forth in this part have been complied with.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 10 - REPORTS AND FORMS › Section 12.17.10.9 - REQUIREMENTS FOR NCUA INSURANCE

Current through Register Vol. 35, No. 13, July 16, 2024
State chartered credit unions who are insured pursuant to
				  Title II of the Federal Credit Union Act [
				  29
				  U.S.C. Section 1781 et seq.], shall file
				  semi-annual and/or [sic] quarterly financial and statistical reports on NCUA
				  5300 forms pursuant to NCUA Rules and Regulations Part 741.6 [ 12 C.F.R.
				  Section 7416 ].
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 11 - MINIMUM FIDELITY BOND REQUREMENTS › Section 12.17.11.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department. Post Office Box 25101, Santa Fe, New Mexico
				  87504.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 11 - MINIMUM FIDELITY BOND REQUREMENTS › Section 12.17.11.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section 58-11-3(C) NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 11 - MINIMUM FIDELITY BOND REQUREMENTS › Section 12.17.11.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 31, 1997, unless a later date is cited at the end of
				  a section or paragraph.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 11 - MINIMUM FIDELITY BOND REQUREMENTS › Section 12.17.11.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to establish a definition of
				  the minimum fidelity bond requirements pursuant to Section 58-11-36(A)(2) NMSA
				  1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 11 - MINIMUM FIDELITY BOND REQUREMENTS › Section 12.17.11.8 - ISSUING AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
The issuing agency is responsible for ensuring that the
				  requirements set forth in this part have been complied with.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 11 - MINIMUM FIDELITY BOND REQUREMENTS › Section 12.17.11.9 - REQUIREMENTS FOR NCUA INSURANCE

Current through Register Vol. 35, No. 13, July 16, 2024
State chartered credit unions who [sic] are insured pursuant
				  to Title II of the Federal Credit Union Act must possess the minimum fidelity
				  bond coverage stated in Part 701.20 of the NCUA Rules and Regulations pursuant
				  to Part 741.201(a).
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 12 - QUALIFIED EXTERNAL AUDITORS › Section 12.17.12.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department, P. O. Box 25101, Santa Fe, New Mexico
				  87504.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 12 - QUALIFIED EXTERNAL AUDITORS › Section 12.17.12.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections
				  58-11-3
				  &
				  58-11-38
				  NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 12 - QUALIFIED EXTERNAL AUDITORS › Section 12.17.12.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
August 14, 2000 unless a later date is cited in the history
				  note at the end of a section.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 12 - QUALIFIED EXTERNAL AUDITORS › Section 12.17.12.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective is to establish requirements for qualifying a
				  person or firm to perform a comprehensive annual audit of the books and affairs
				  of any credit union where an audit by a certified public accountant would cost
				  5% or more of the credit union's previous year's net income.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 12 - QUALIFIED EXTERNAL AUDITORS › Section 12.17.12.8 - QUALIFIED EXTERNAL AUDITORS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				The supervisory committee of a qualified credit union [with concurrence by the
				board of directors] may show proof of exceeding the 5% standard and develop an
				alternate audit plan to utilize a person or firm that is not a certified public
				accountant or experienced in credit union audits to lessen the financial impact
				of the audit on the credit union. This plan must be acceptable to and approved
				by the Financial Institutions Division.
B. The plan must be submitted to the
				Financial Institutions Division for approval at least 30 days prior to
				implementation. The request should include the following qualification
				information regarding the person or firm included in the plan:
(1) Resume [of principals involved in the
				audit]
(2) Background in accounting
				internal routines and controls
(3)
				Knowledge of account and cash reconciliation
(4) Knowledge of journal entry and
				adjusting
(5) Knowledge of
				financial institution regulatory laws [i.e. Bank Secrecy Act, etc.]
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 13 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.17.13.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
All state chartered credit unions otherwise subject to the
				  Home Loan Protection Act, Sections
				  58-21A-1
				  to -14 NMSA 1978 (2004) ("Act").
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 13 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.17.13.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  58-11-20
				  NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 13 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.17.13.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
March 31, 2004, unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 13 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.17.13.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to grant state chartered credit
				  unions the same powers and authority that federally chartered credit unions are
				  authorized, empowered, permitted or otherwise allowed to
				  exercise.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 13 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.17.13.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
"Director"
means the director of the financial institutions division of
				the regulation and licensing department.
B.
"Division"
means the
				financial institutions division of the regulation and licensing
				department.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 13 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.17.13.8 - FINDINGS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Section
				58-11-20
				NMSA 1978, authorizes the director to grant by regulation the powers and
				authority that federal credit unions are authorized, empowered, permitted or
				otherwise allowed to exercise under federal statutes, rules or
				regulations.
B. The national credit
				union administration ("NCUA") is authorized by federal legislation to regulate
				and supervise federally chartered credit unions throughout the United
				States.
C. By regulation, the NCUA
				has determined that federal law preempts any state law that regulates the
				rates, terms of repayment and other conditions of federally chartered credit
				union loans and lines of credit to members. (Code of Federal Regulations
				Section 701.21(b)).
D. On February
				10, 2004, the NCUA issued a letter ruling regarding "preemption of the New
				Mexico Home Loan Protection Act" ("NCUA Preemption") clarifying the fact that
				the New Mexico Home Loan Protection Act is preempted by federal law from
				applying to federally chartered credit unions operating in New
				Mexico.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 17 - CREDIT UNIONS › Part 13 - APPLICABILITY OF HOME LOAN PROTECTION ACT › Section 12.17.13.9 - AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
State chartered credit unions are provided the same powers
				  and authority granted to federally chartered credit unions as a result of the
				  NCUA Preemption.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 2 › Section 12.18.2.5

Current through Register Vol. 35, No. 13, July 16, 2024
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in brackets.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 3 - MANDATORY BROCHURE FOR SMALL LOAN BUSINESS › Section 12.18.3.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 3 - MANDATORY BROCHURE FOR SMALL LOAN BUSINESS › Section 12.18.3.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
Loan companies conducting Small Loan Business in the State of
				  New Mexico.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 3 - MANDATORY BROCHURE FOR SMALL LOAN BUSINESS › Section 12.18.3.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  58-15-11
				  NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 3 - MANDATORY BROCHURE FOR SMALL LOAN BUSINESS › Section 12.18.3.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 1, 2001 unless a later date is cited at the end of a
				  Section.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 3 - MANDATORY BROCHURE FOR SMALL LOAN BUSINESS › Section 12.18.3.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to require a mandatory
				  informational brochure to be readily available for all small loan
				  consumers.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 4 - MANDATORY SIGNAGE FOR SMALL LOAN BUSINESSES › Section 12.18.4.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Financial Institutions Division of the Regulation and
				  Licensing Department.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 4 - MANDATORY SIGNAGE FOR SMALL LOAN BUSINESSES › Section 12.18.4.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  58-15-11
				  NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 4 - MANDATORY SIGNAGE FOR SMALL LOAN BUSINESSES › Section 12.18.4.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 1, 2001 unless a later date is cited at the end of a
				  Section.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 4 - MANDATORY SIGNAGE FOR SMALL LOAN BUSINESSES › Section 12.18.4.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to require prominent signage
				  disclosing the loan rates and fees to obtain a loan and to assist consumers in
				  the loan decision process.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 4 - MANDATORY SIGNAGE FOR SMALL LOAN BUSINESSES › Section 12.18.4.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
"Annual Percentage Rate"
or
"APR"
means the measure of the cost of credit, expressed as a yearly rate.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 7 - HEARING PROCEDURES FOR SMALL LOAN COMPANIES › Section 12.18.7.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  58-15-11
				  NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 7 - HEARING PROCEDURES FOR SMALL LOAN COMPANIES › Section 12.18.7.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
September 15, 2018, unless a later date is cited at the end
				  of a section.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 7 - HEARING PROCEDURES FOR SMALL LOAN COMPANIES › Section 12.18.7.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to establish regulations
				  governing the conduct of small loan licensees.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 7 - HEARING PROCEDURES FOR SMALL LOAN COMPANIES › Section 12.18.7.8 - HEARING PROCEDURES

Current through Register Vol. 35, No. 13, July 16, 2024
A. Venue
				for all hearings held pursuant to the New Mexico Small Loan Act of 1955 shall
				be in Santa Fe, New Mexico unless the director, upon motion by a party, finds
				that it would be appropriate to hold the hearing elsewhere in New
				Mexico.
B. Service of subpoenas,
				summary orders, findings, and final orders shall be made either:
(1) personally;
(2) by certified mail, return receipt
				requested, sent to the last known address of the person; or
(3) by such other means as are reasonably
				calculated to give actual notice.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 8 - LICENSING OF NONRESIDENT LENDERS › Section 12.18.8.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  58-15-11
				  NMSA 1978.
New Mexico Administrative Code › Title 12 - TRADE, COMMERCE AND BANKING › Chapter 18 - LOAN COMPANIES › Part 8 - LICENSING OF NONRESIDENT LENDERS › Section 12.18.8.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
September 15, 2018, unless a later date is cited at the end
				  of a section.