New Mexico § 58-1-78 Unlawful service as officer or director

New Mexico Statutes

§ 58-1-78 — Unlawful service as officer or director

New Mexico § 58-1-78

Ch. 58Financial Institutions and Regulations

Art. 1Banking Generally

This text of New Mexico § 58-1-78 (Unlawful service as officer or director) 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. § 58-1-78 (2026).

Text

It is unlawful for any person to serve as an officer or director of a bank, who: A. is an officer, director or employee of a directly competitive bank in the same community; B. has been convicted of an offense constituting, in the jurisdiction in which the judgment was rendered, a violation of the banking laws or a felony, or who has been found liable, either in a civil or criminal action, for a breach of trust; or C. is indebted to the bank for more than thirty days upon a judgment that has become final.

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It is unlawful for any person to serve as an officer or director of a bank, who: A. is an officer, director or employee of a directly competitive bank in the same community; B. has been convicted of an offense constituting, in the jurisdiction in which the judgment was rendered, a violation of the banking laws or a felony, or who has been found liable, either in a civil or criminal action, for a breach of trust; or C. is indebted to the bank for more than thirty days upon a judgment that has become final.