There is a newer version of the New Mexico Statutes
2013 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 11 - Credit Unions
Section 58-11-39 - Members' accounts. (1997)
NM Stat § 58-11-39 (2013) What's This?
58-11-39. Members' accounts. (1997)
A. The bylaws of a credit union may require the members to subscribe to and make payments on membership shares.
B. Share accounts, membership shares and deposit accounts shall be subscribed to and paid for in such manner as the bylaws prescribe.
C. The par value of shares and membership shares shall be as prescribed in the bylaws.
D. Membership shares may not be pledged as security on any extension of credit.
History: Laws 1987, ch. 311, § 39; 1997, ch. 195, § 27.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
