New Mexico § 58-1-31 Endorsement and signature guaranty and unauthorized

New Mexico Statutes

§ 58-1-31 — Endorsement and signature guaranty and unauthorized

New Mexico·Ch. 58 Financial Institutions and Regulations·Art. 1 Banking Generally

assumption of liability.

A.A state bank may assume secondary liability as an endorser of a negotiable or nonnegotiable instrument, which it owns or has received for collection. A state bank may assume the liability of the guarantor of the genuineness of a signature.

B.Except as expressly permitted in the Banking Act, a state bank shall not assume liability as an insurer or as a guarantor or indorser [endorser] of any security instrument or obligation.

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assumption of liability. A. A state bank may assume secondary liability as an endorser of a negotiable or nonnegotiable instrument, which it owns or has received for collection. A state bank may assume the liability of the guarantor of the genuineness of a signature. B. Except as expressly permitted in the Banking Act, a state bank shall not assume liability as an insurer or as a guarantor or indorser [endorser] of any security instrument or obligation.

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