There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 10: Savings and Loan Associations, 58-10-1 through 58-10-111
Section 58-10-32: Power to borrow.
NM Stat § 58-10-32 (1996 through 1st Sess 50th Legis) What's This?
58-10-32. Power to borrow.
No association shall borrow more money than an aggregate amount equal to fifty percent of its withdrawable savings on the date of borrowing, except that the supervisor may grant immediate authority to exceed this limit for the sole purpose of meeting withdrawals.
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