There is a newer version of the New Mexico Statutes
2021
2020
2019
2018
2017
Other previous versions
View our newest version here

2013 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 5 - Organization and Management
Section 58-5-9 - [Compliance with federal reserve requirements satisfies state balance requirements.] (1919)


NM Stat § 58-5-9 (2013) What's This?

58-5-9. [Compliance with federal reserve requirements satisfies state balance requirements.] (1919) 
Compliance on the part of any bank or trust company exercising the right conferred by Section 96 [58-5-8 NMSA 1978] hereof with the reserve requirements of the Federal Reserve Act shall be held to be a full compliance with these [those] provisions of the laws of this state which require banks or trust companies to maintain cash balances in their vaults or with other banks, and no such bank or trust company shall be required to carry or maintain reserve other than such as is required under the terms of the Federal Reserve Act.   
  History: Laws 1915, ch. 67, § 97, enacted by Laws 1919, ch. 120, § 35; C.S. 1929, § 13-702; 1941 Comp., § 50-223; 1953 Comp., § 48-2-28. 

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.