2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 10: Savings and Loan Associations, 58-10-1 through 58-10-111
Section 58-10-83: Emergency power of supervisor.
58-10-83. Emergency power of supervisor.
Notwithstanding the procedures set forth in Sections 71, 78 and 79 [58-10-72, 58-10-80 and 58-10-81 NMSA 1978] of this act, should the supervisor determine that an emergency exists which requires him to exercise, without delay, any of his powers granted under Sections 71, 78 and 79, he may issue, without notice, hearing or delay, any regulations or orders authorized by said sections, to any association, officers or directors, and require immediate compliance therewith. Such emergency regulations or orders shall remain in effect until a hearing thereon has been held, within ten days after the effective date of said regulation or order, and final determination has been made thereon as provided in said Sections 71, 78 and 79.
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