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New Mexico Statutes > Chapter 58 > Article 1 – Banking Generally

§ 58-1-1 Short title
§ 58-1-2 Definitions of banks
§ 58-1-2.1 Prohibition
§ 58-1-3 Definitions
§ 58-1-4 Effect on existing banks
§ 58-1-5 Deposit of minor; school or institutional deposits
§ 58-1-6 Designating agent
§ 58-1-7 Adverse claim to deposit
§ 58-1-8 Payment from account when no executor or administrator has qualified
§ 58-1-9 Transmitting money; foreign exchange
§ 58-1-10 Authority to engage in leasing safe deposit facilities;
§ 58-1-11 Access by fiduciaries
§ 58-1-12 Effect of lessee’s death or incapacity
§ 58-1-13 Lease to minor
§ 58-1-14 Search procedure on death
§ 58-1-15 Adverse claims to contents of safe deposit box
§ 58-1-16 Special remedies for nonpayment of rent
§ 58-1-17 Qualification and fiduciary powers
§ 58-1-18 Fiduciary bond or oath excused
§ 58-1-19 Identification and segregation of fiduciary assets;
§ 58-1-20 Reserves against deposits
§ 58-1-21 Loans
§ 58-1-22 Investments
§ 58-1-23 Acceptances
§ 58-1-24 Diversification of loans and investments
§ 58-1-25 Acquisition of property to satisfy or protect previous loan
§ 58-1-26 Acquisition of banking premises and equipment
§ 58-1-27 Sale of assets in ordinary course
§ 58-1-28 Borrowing
§ 58-1-29 Issuance of capital debentures or notes
§ 58-1-30 Pledge of assets
§ 58-1-31 Endorsement and signature guaranty and unauthorized assumption of liability
§ 58-1-32 Director of the financial institutions division; appointment and qualifications; salary
§ 58-1-33 Oath of secrecy; surety bonds
§ 58-1-34 Powers of director
§ 58-1-35 Employees [Examiners] and clerks; designation of deputy
§ 58-1-36 Seal of the director
§ 58-1-37 Office of the commissioner [director]; delegation of powers
§ 58-1-38 Divulging information prohibited; exchange of information with United States; violation a misdemeanor
§ 58-1-39 Bank records; prescribing manner of keeping
§ 58-1-40 Reports of condition; special reports; failure to make;
§ 58-1-41 Supervision fees
§ 58-1-41.1 Trust department examination; fees
§ 58-1-41.2 Additional examinations
§ 58-1-43 Fees and penalties; disposition
§ 58-1-44 Copies of reports and records; evidence; fees
§ 58-1-45 Court review
§ 58-1-46 Examinations and reports
§ 58-1-47 Commissioner’s [Director’s] annual report
§ 58-1-48 Records of division
§ 58-1-49 Banking interests of officers and employees of the department of banking [financial institutions division]
§ 58-1-50 Limitation of personal liability
§ 58-1-51 Standards in regulations
§ 58-1-52 Incorporators
§ 58-1-53 General corporate powers
§ 58-1-54 Powers of director and of state banks
§ 58-1-55 Capital structure; impairment of capital
§ 58-1-56 Notice of intention
§ 58-1-57 Application for permission to file corporate papers
§ 58-1-58 Determination on application for permission to file with the corporation commission [public regulation commission]
§ 58-1-59 Subscription calls
§ 58-1-60 First meetings of stockholders and directors; adoption of bylaws
§ 58-1-61 Certificate of authority
§ 58-1-62 Amendment of articles of incorporation
§ 58-1-64 Meetings of stockholders; voting; proxies; voting trusts;
§ 58-1-65 Directors and officers
§ 58-1-66 Directors; meetings and duties
§ 58-1-67 Fidelity bonds and other insurance
§ 58-1-68 Authority to declare dividends
§ 58-1-69 Capital, surplus and undivided profits; accounting requirements
§ 58-1-70 Deposit insurance; membership in federal reserve system
§ 58-1-71 Waivers; corporate action by unanimously signed writing
§ 58-1-72 Voluntary liquidation and dissolution
§ 58-1-73 Director in possession
§ 58-1-74 Requirements of reorganization plan
§ 58-1-75 Liquidation by commissioner [director]
§ 58-1-76 Unauthorized conduct of banking business
§ 58-1-77 Receipt of deposits while insolvent
§ 58-1-78 Unlawful service as officer or director
§ 58-1-79 Unlawful gratuity or compensation; transactions of persons connected with state bank
§ 58-1-80 Unlawful concealment of transaction
§ 58-1-81 Improper maintenance of accounts; false or deceptive entries and statements
§ 58-1-82 Reimbursement for fines and penalties
§ 58-1-83 Unlawful use of words “safe deposit.”
§ 58-1-84 Unlawful sanctions; violations of rules and orders
§ 58-1-85 Injunction

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Terms Used In New Mexico Statutes > Chapter 58 > Article 1 - Banking Generally

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Quorum: The number of legislators that must be present to do business.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Trustee: A person or institution holding and administering property in trust.

New Mexico Statutes > Chapter 58 > Article 1 – General Provisions

§ 58-13C-101 Short title
§ 58-13C-102 Definitions
§ 58-13C-103 References to federal statutes
§ 58-13C-104 References to federal agencies
§ 58-13C-105 Electronic records and signatures

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Terms Used In New Mexico Statutes > Chapter 58 > Article 1 - General Provisions

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Dependent: A person dependent for support upon another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.

New Mexico Statutes > Chapter 58 > Article 1 – GENERAL PROVISIONS

§ 58-32-101 Short title
§ 58-32-102 Definitions
§ 58-32-103 Exclusions

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Terms Used In New Mexico Statutes > Chapter 58 > Article 1 - GENERAL PROVISIONS

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.