New Mexico § 58-11-39 Members' accounts

New Mexico Statutes

§ 58-11-39 — Members' accounts

New Mexico § 58-11-39

Ch. 58Financial Institutions and Regulations

Art. 11Credit Unions

This text of New Mexico § 58-11-39 (Members' accounts) 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. § 58-11-39 (2026).

Text

A.The bylaws of a credit union may require the members to subscribe to and make payments on membership shares.

B.Share accounts, membership shares and deposit accounts shall be subscribed to and paid for in such manner as the bylaws prescribe.

C.The par value of shares and membership shares shall be as prescribed in the bylaws.

D.Membership shares may not be pledged as security on any extension of credit.

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A. The bylaws of a credit union may require the members to subscribe to and make payments on membership shares. B. Share accounts, membership shares and deposit accounts shall be subscribed to and paid for in such manner as the bylaws prescribe. C. The par value of shares and membership shares shall be as prescribed in the bylaws. D. Membership shares may not be pledged as security on any extension of credit.