N.M. Stat. § 58-1C-3

This is the official text of N.M. Stat. § 58-1C-3, 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-3. Definitions

Official statutory text

As used in the Interstate Bank Branching Act:

A. “bank” means that term as defined in 12 U.S.C.A. Section 1813(h) , but “bank” does not include any “foreign bank” as defined in 12 U.S.C.A. Section 3101(7) , unless the foreign bank is organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands and its deposits are insured by the federal deposit insurance corporation;

B. “bank holding company” means that term as defined in 12 U.S.C.A. Section 1841(a)(1) ;

C. “bank supervisory agency” means:

(1) an agency of another state with primary responsibility for chartering and supervising banks; and

(2) the office of the comptroller of the currency, the federal deposit insurance corporation, the board of governors of the federal reserve system, and any successor to these agencies;

D. “branch” means that term as defined in Subsection C of Section 58-5-2 NMSA 1978;

E. “control” means that term as defined in 12 U.S.C.A. Section 1841(a)(2) ;

F. “director” means the director of the financial institutions division of the regulation and licensing department;

G. “home state” means:

(1) with respect to a state bank, the state in which the bank is chartered;

(2) with respect to a national bank, the state in which the main office of the bank is located; and

(3) with respect to a foreign bank, the state determined to be the home state of the foreign bank pursuant to 12 U.S.C.A. Section 3103(c) ;

H. “home state regulator” means the bank supervisory agency of the state in which an out-of-state state bank is chartered;

I. “host state” means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain, a branch;

J. “insured depository institution” means that term as defined in 12 U.S.C.A. Section 1813(c)(2) ;

K. “interstate merger transaction” means:

(1) the merger or consolidation of banks with different home states and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or

(2) the purchase of all or substantially all of the assets and branches of a bank whose home state is different from the home state of the acquiring bank;

L. “main office” means the office declared by a bank to its chartering bank supervisory agency to be its main office;

M. “New Mexico bank” means a bank whose home state is New Mexico;

N. “New Mexico state bank” means a bank chartered under the laws of New Mexico;

O. “out-of-state bank” means a bank whose home state is a state other than New Mexico;

P. “out-of-state state bank” means a bank chartered under the laws of any state other than New Mexico;

Q. “resulting bank” means a bank that has resulted from an interstate merger transaction under the Interstate Bank Branching Act; and

R. “state” means a state of the United States, the District of Columbia, a territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands or the Northern Mariana Islands.

Status: in_force

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