2020 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 5 - Organization and Management
Section 58-5-7 - Legal holidays for banks.
A. The following legal holidays may be observed by banks, notwithstanding the provisions of Sections 12-5-1 through 12-5-9 NMSA 1978:
New Year's Day ................................. January 1
Martin Luther King, Jr.'s Birthday ... 3rd Monday in January
President's Day .................................. 3rd Monday in February
Memorial Day ..................................... the date determined by the director to be the date recognized by the majority of the federal reserve districts in New Mexico
Independence Day ............................. July 4
Labor Day ........................................... 1st Monday in September
Indigenous Peoples' Day .................... 2nd Monday in October
Armistice Day and Veterans' Day ....... November 11
Thanksgiving Day ............................... 4th Thursday in November
Christmas Day .................................... December 25.
Whenever one of these bank holidays falls on a Sunday, the following Monday is a legal bank holiday. Whenever one of these bank holidays falls on a Saturday, that Saturday and the preceding Friday are legal bank holidays.
B. Nothing in this section shall be deemed to require a bank to close or cease operating any remote financial service unit installed pursuant to the Remote Financial Service Unit Act [Chapter 58, Article 16 NMSA 1978] or any automated teller machines located on the bank premises during all or any part of a legal bank holiday.
History: 1953 Comp., § 48-2-21, enacted by Laws 1975, ch. 330, § 3; 1977, ch. 340, § 1; 1977, ch. 359, § 19; 1 981, ch. 42, § 1; 1991, ch. 75, § 1; 1999, ch. 213, § 8; 2019, ch. 123, § 4.
ANNOTATIONSThe 2019 amendment, effective July 1, 2019, in Subsection A, after "3rd Monday in January", deleted "Washington's Birthday" and added "President's Day", and after "1st Monday in September", deleted "Columbus" and added "Indigenous Peoples'".
The 1999 amendment, effective June 18, 1999, in the introductory language of Subsection A substituted "may" for "shall" and updated a section reference.
The 1991 amendment, effective July 1, 1991, inserted "Martin Luther King, Jr.'s Birthday" in the list of legal holidays and deleted "of the financial institutions division" following "director" in the provision on determination of the Memorial Day holiday.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 278, 710.
