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2023 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 10 - Savings and Loan Associations
Section 58-10-43 - Loans on security of savings accounts.
Universal Citation:
NM Stat § 58-10-43 (2023)
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Any association may make loans on the sole security value of the accounts owned or otherwise pledged for or by the borrower. No such loan shall be made when an association has applications for withdrawal filed which have not been reached for payment.
History: 1953 Comp., § 48-15-87, enacted by Laws 1967, ch. 61, § 43.
ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 684, 686.
9 C.J.S. Banks and Banking § 466.
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