New Mexico Statutes
§ 58-10-70 — Use of surplus accounts and expense fund contributions
New Mexico § 58-10-70
JurisdictionNew Mexico
Ch. 58Financial Institutions and Regulations
Art. 10Savings and Loan Associations
This text of New Mexico § 58-10-70 (Use of surplus accounts and expense fund contributions) 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. § 58-10-70 (2026).
Text
At any closing date, any association may use all or any part of any surplus accounts, whether earned or paid in, or any expense fund contributions on its books at the time, to meet all or any part of the expenses of operating the association for the period just closed, required transfers to loss reserves or the payment or credit of dividends declared on savings accounts.
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Legislative History
1953 Comp., § 48-15-113, enacted by Laws 1967, ch. 61, § 69.
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 § 58-10-70, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/58/58-10-70.