New Mexico § 58-10-104 Authority to engage in leasing safe deposit facilities;

New Mexico Statutes

§ 58-10-104 — Authority to engage in leasing safe deposit facilities;

New Mexico § 58-10-104

Ch. 58Financial Institutions and Regulations

Art. 10Savings and Loan Associations

This text of New Mexico § 58-10-104 (Authority to engage in leasing safe deposit facilities;) 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. § 58-10-104 (2026).

Text

subsidiary company.

A.Subject to any regulations the supervisor may prescribe, an association may maintain and lease safe deposit boxes and may accept property or documents for safekeeping if, with the exception of night depositories, it issues a receipt for each transaction.

B.An association may own stock in safe deposit companies not exceeding in aggregate cost fifteen percent of its capital and surplus, but at least ninety percent of the stock in each such safe deposit company must be owned by associations, banks or trust companies.

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subsidiary company. A. Subject to any regulations the supervisor may prescribe, an association may maintain and lease safe deposit boxes and may accept property or documents for safekeeping if, with the exception of night depositories, it issues a receipt for each transaction. B. An association may own stock in safe deposit companies not exceeding in aggregate cost fifteen percent of its capital and surplus, but at least ninety percent of the stock in each such safe deposit company must be owned by associations, banks or trust companies.