New Mexico Statutes
§ 58-8-3 — [Collateral as security for deposit of funds; investment of
New Mexico·Ch. 58 Financial Institutions and Regulations·Art. 8 National Housing Act Loans and Obligations
capital or surplus; eligible securities.] Wherever, by statute of this state, collateral is required as security for the deposit of public or other funds; or deposits are required to be made with any public official or department; or an investment of capital or surplus, or a reserve or other fund, is required to be maintained consisting of designated securities, notes and bonds secured by mortgages insured, and debentures issued, by the federal housing administrator, and obligations of national mortgage associations shall be considered eligible securities for such purposes.
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New Mexico § 58-8-3 ([Collateral as security for deposit of funds; investment of) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Laws 1937, ch. 34, § 2; 1941 Comp., § 50-1203; 1953 Comp., § 48-12-3.
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
Loans