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 § 58-1-31

Ch. 58Financial Institutions and Regulations

Art. 1Banking Generally

This text of New Mexico § 58-1-31 (Endorsement and signature guaranty and unauthorized) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 58-1-31 (2026).

Text

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.