New Mexico § 58-1-4 Effect on existing banks

New Mexico Statutes

§ 58-1-4 — Effect on existing banks

New Mexico § 58-1-4

Ch. 58Financial Institutions and Regulations

Art. 1Banking Generally

This text of New Mexico § 58-1-4 (Effect on existing banks) 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. § 58-1-4 (2026).

Text

The articles of incorporation of state banks existing at the time of the adoption of the Banking Act shall continue in full force and effect, but all state banks and, to the extent applicable, all banks shall thereafter be operated in accordance with the provisions of the Banking Act, and any state bank by filing an application for an amendment of its articles of incorporation, or for a merger, consolidation or sale of all, or substantially all, of its assets or the assets of any department under the Banking Act and its articles of incorporation, shall thereafter be subject to the Banking Act.

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The articles of incorporation of state banks existing at the time of the adoption of the Banking Act shall continue in full force and effect, but all state banks and, to the extent applicable, all banks shall thereafter be operated in accordance with the provisions of the Banking Act, and any state bank by filing an application for an amendment of its articles of incorporation, or for a merger, consolidation or sale of all, or substantially all, of its assets or the assets of any department under the Banking Act and its articles of incorporation, shall thereafter be subject to the Banking Act.