2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 1B: Interstate Bank Acquisitions, 58-1B-1 through 58-1B-11
Section 58-1B-3: Purpose and intent of act.
58-1B-3. Purpose and intent of act.
The purpose of the Interstate Bank Acquisition Act [58-1B-1 NMSA 1978] is to establish the conditions under which a company may acquire a New Mexico bank or a New Mexico bank holding company. In enacting it the legislature intends to avoid discrimination against out-of-state bank holding companies or foreign bank holding companies in any manner that would violate Section 3(d) of the Bank Holding Company Act.
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