There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 1: Banking Generally, 58-1-1 through 58-1-85
Section 58-1-30: Pledge of assets.
NM Stat § 58-1-30 (1996 through 1st Sess 50th Legis) What's This?
58-1-30. Pledge of assets.
A bank may pledge its assets to:
A. enable it to act as agent for the sale of obligations of the United States;
B. secure borrowed funds; or
C. secure deposits when the depositor is required to obtain such security by the laws of the United States, the terms of any interstate compact or by the laws of any state.
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