New Mexico § 7-8A-26 Foreign transactions

New Mexico Statutes

§ 7-8A-26 — Foreign transactions

New Mexico·Ch. 7 Taxation·Art. 8A Uniform Unclaimed Property Act

The Uniform Unclaimed Property Act (1995) does not apply to:

(1)property held, due and owing in a foreign country and arising out of a foreign transaction;

(2)funds in a member's share account in a credit union if the bylaws of the credit union provide for unclaimed funds to be used for educational or charitable uses; and (3) patronage capital or other tangible ownership interest in a rural electric cooperative, a telephone cooperative, a water cooperative or an agricultural cooperative, if the bylaws of the cooperative provide for unclaimed patronage capital to be used for educational scholarships or other charitable uses.

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The Uniform Unclaimed Property Act (1995) does not apply to: (1) property held, due and owing in a foreign country and arising out of a foreign transaction; (2) funds in a member's share account in a credit union if the bylaws of the credit union provide for unclaimed funds to be used for educational or charitable uses; and (3) patronage capital or other tangible ownership interest in a rural electric cooperative, a telephone cooperative, a water cooperative or an agricultural cooperative, if the bylaws of the cooperative provide for unclaimed patronage capital to be used for educational scholarships or other charitable uses.

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