2016 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 4 - Merger and Consolidation of Banks
Section 58-4-12 - Book value of assets.
58-4-12. Book value of assets.
Without approval by the director of the financial institutions division no asset shall be carried on the books of the resulting or purchasing state bank at a valuation higher than that on the books of the merging or converting bank at the time of its last examination by a state or national bank examiner before the effective date of the merger or conversion.
History: 1941 Comp., 50-1912, enacted by Laws 1951, ch. 37, 12; 1953 Comp., 48-13-12; Laws 1977, ch. 245, 35.
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