New Mexico § 58-11-43 Joint accounts

New Mexico Statutes

§ 58-11-43 — Joint accounts

New Mexico·Ch. 58 Financial Institutions and Regulations·Art. 11 Credit Unions

A.A member may designate any person to own a share account or deposit account in joint tenancy with the right of survivorship, as a tenant in common or under any other form of joint ownership permitted by law, but no co-owner, unless also a member in his own right, shall be permitted to vote, obtain loans, hold office or be required to pay a membership fee.

B.Payment of part or all of those accounts to any of the co-owners shall, to the extent of such payment, discharge the liability to all unless the account agreement contains a prohibition.

Free access — add to your briefcase to read the full text and ask questions with AI

A. A member may designate any person to own a share account or deposit account in joint tenancy with the right of survivorship, as a tenant in common or under any other form of joint ownership permitted by law, but no co-owner, unless also a member in his own right, shall be permitted to vote, obtain loans, hold office or be required to pay a membership fee. B. Payment of part or all of those accounts to any of the co-owners shall, to the extent of such payment, discharge the liability to all unless the account agreement contains a prohibition.

New Mexico § 58-11-43 (Joint accounts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.