N.M. Stat. § 58-1C-11
This is the official text of N.M. Stat. § 58-1C-11, 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.
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§ 58-1C-11. Enforcement
Official statutory text
If the director determines that a branch maintained by an out-of-state state bank in this state is being operated in violation of the laws of this state, is not reasonably meeting the credit needs of the community served or is being operated in an unsafe and unsound manner, the director may take the same enforcement actions he could take if the branch were a New Mexico state bank. The director shall give notice promptly to the home state regulator of an enforcement action taken against an out-of-state state bank and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing and resolving the enforcement action.
Status: in_force
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