New Mexico Statutes
§ 58-1-68 — Authority to declare dividends
New Mexico § 58-1-68
This text of New Mexico § 58-1-68 (Authority to declare dividends) 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. § 58-1-68 (2026).
Text
The board of directors of a state bank may declare dividends not more than once in each calendar quarter from undivided profits if:
(1)the undivided profits account has been maintained in accordance with the Banking Act; and (2) the reserve against deposits required by the Banking Act is not and will not thereby be impaired.
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Legislative History
1953 Comp., § 48-22-56, enacted by Laws 1963, ch. 305, § 56.
Nearby Sections
15
§ 58-1-1
Short title§ 58-1-11
Access by fiduciaries§ 58-1-13
Lease to minor§ 58-1-14
Search procedure on death§ 58-1-17
Qualification and fiduciary powers§ 58-1-18
Fiduciary bond or oath excused§ 58-1-2
Definitions of banks§ 58-1-2.1
Prohibition§ 58-1-20
Reserves against deposits§ 58-1-21
LoansCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 58-1-68, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/58/58-1-68.