New Mexico § 58-22-20 Bank deposit required; maintenance of trust accounts

New Mexico Statutes

§ 58-22-20 — Bank deposit required; maintenance of trust accounts

New Mexico § 58-22-20

Ch. 58Financial Institutions and Regulations

Art. 22Escrow Companies

This text of New Mexico § 58-22-20 (Bank deposit required; maintenance of trust 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. § 58-22-20 (2026).

Text

All money received in escrow prior to disbursement shall be deposited in a trust account maintained in a bank, savings and loan association or credit union located in New Mexico. Such trust accounts shall be maintained separately from those required for operation of the licensee and funds belonging to the licensee. All such money received in escrow may be commingled in one or more trust accounts, provided such funds are separately identifiable to the respective recipients under the escrow agreements.

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All money received in escrow prior to disbursement shall be deposited in a trust account maintained in a bank, savings and loan association or credit union located in New Mexico. Such trust accounts shall be maintained separately from those required for operation of the licensee and funds belonging to the licensee. All such money received in escrow may be commingled in one or more trust accounts, provided such funds are separately identifiable to the respective recipients under the escrow agreements.