2019 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 5 - Organization and Management
Section 58-5-5 - [Prior bank agencies; designation as branches.]
Any bank agency or agencies heretofore opened and conducted prior to the passage and approval hereof under the authorization contained in Chapter 50 Section 216 of the New Mexico Statutes Annotated, 1941 Compilation, are hereafter to be conducted and known as branches under the authorization hereof.
History: 1941 Comp., § 48-2-19, enacted by Laws 1951, ch. 32, § 4; 1953 Comp., § 48-2-19.
ANNOTATIONSCompiler's notes. — Section 50-216 of the 1941 Compilation referred to in this section was repealed by Laws 1951, ch. 32, § 5.
Unlawfully established agency not validated. — This section does not validate the prior action of the state bank examiner in granting the Otero county state bank a permit for its agency at White Sands since this section is not operative unless the agency previously established was done lawfully under the provisions of prior 50-216 of the 1941 Comp. 1959 Op. Att'y Gen. No. 59-35.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 324.
Power of national bank to establish branches or maintain separate banking offices, 30 A.L.R. 927, 50 A.L.R. 1340, 136 A.L.R. 471.
Branch banks, effect of maintenance of, on rights of creditors on insolvency of branch or parent bank, 50 A.L.R. 1353, 136 A.L.R. 471.
Judicial notice as to branch banks, 89 A.L.R. 1353.
9 C.J.S. Banks and Banking §§ 45, 46.
