N.M. Stat. § 58-1-17
This is the official text of N.M. Stat. § 58-1-17, part of New Mexico’s Stat — part of the compiled statutory law of New Mexico, published by the state as "Stat." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 58-1-17. Qualification and fiduciary powers
Official statutory text
No state bank shall act as fiduciary unless it is authorized by its articles of incorporation and has a permit from the commissioner [director of the financial institutions division of the regulation and licensing department]. The commissioner [director] shall not grant the permit unless he finds:
A. the bank has not less than five hundred thousand dollars ($500,000) capital and surplus;
B. the bank is in a sound financial condition and operated in a prudent and businesslike manner; and
C. qualified personnel are available to handle trust matters.
A. the bank has not less than five hundred thousand dollars ($500,000) capital and surplus;
B. the bank is in a sound financial condition and operated in a prudent and businesslike manner; and
C. qualified personnel are available to handle trust matters.
Status: in_force
Need a lawyer in New Mexico?
Find a New Mexico lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.