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2019 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 11 - Credit Unions
Section 58-11-25 - Liability of members.
Universal Citation: NM Stat § 58-11-25 (2019)
The members of a credit union shall not be personally or individually liable for the payments of its debts solely by virtue of holding membership.
History: Laws 1987, ch. 311, § 25.
ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed 58-11-25 NMSA 1978, as amended by Laws 1975, ch. 344, § 23, relating to conversion, effective June 19, 1987, and enacted the present section.
Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.
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