2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 1: Banking Generally, 58-1-1 through 58-1-85
Section 58-1-78: Unlawful service as officer or director.
58-1-78. Unlawful service as officer or director.
It is unlawful for any person to serve as an officer or director of a bank, who:
A. is an officer, director or employee of a directly competitive bank in the same community;
B. has been convicted of an offense constituting, in the jurisdiction in which the judgment was rendered, a violation of the banking laws or a felony, or who has been found liable, either in a civil or criminal action, for a breach of trust; or
C. is indebted to the bank for more than thirty days upon a judgment that has become final.
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