Section 58-1-83 – Unlawful use of words “safe deposit.”.
It is unlawful for any person to use the words “safe deposit,” “safety deposit” or other words deceptively similar thereto, in connection with the rental of storage space, or in the title or name under which business was done, unless he is: A. a person subject to the jurisdiction of the banking department [financial institutions […]
Section 58-1-84 – Unlawful sanctions; violations of rules and orders.
A. Any person responsible for an act or omission expressly declared to be unlawful by the Banking Act is guilty: (1) of a misdemeanor punishable by imprisonment for a term not exceeding one year or a fine not exceeding five thousand dollars ($5,000) or both; (2) of a felony punishable by imprisonment not exceeding five […]
Section 58-1-85 – Injunction.
Whenever a violation of the Banking Act, by a bank or an officer, director or employee thereof, is threatened or impending and will cause substantial injury to the institution or to the depositors, creditors or stockholders thereof, the district court of Santa Fe county may, upon the suit of the commissioner [director of the financial […]
Section 58-1-79 – Unlawful gratuity or compensation; transactions of persons connected with state bank.
A. It is unlawful for an affiliate of a bank or for an officer, director or employee of a bank, or affiliate of a bank: (1) to solicit, accept or agree to accept, directly or indirectly, from any person other than the institution any gratuity, compensation or other personal benefit for any action taken by […]
Section 58-1-80 – Unlawful concealment of transaction.
It is unlawful for an officer, director, employee, attorney or agent of a bank to conceal or endeavor to conceal any transaction of the bank from any officer, director or employee of the bank or any official or employee of the department [financial institutions division of the regulation and licensing department] to whom it should […]
Section 58-1-81 – Improper maintenance of accounts; false or deceptive entries and statements.
It is unlawful for an officer, director, employee or agent of a bank to: A. maintain or authorize the maintenance of any account of the bank in a manner which, to his knowledge, does not conform to the requirements prescribed by the Banking Act or by the commissioner [director of the financial institutions division of […]
Section 58-1-82 – Reimbursement for fines and penalties.
A. It is unlawful for a state bank to pay a fine or penalty imposed by law upon any other person or any judgment against such person or to reimburse directly or indirectly any person by whom such fine, penalty or judgment has been paid, except: (1) in the settlement of a bank’s own liability […]
Section 58-1-67 – Fidelity bonds and other insurance.
A. The directors of a state bank shall direct and require good and sufficient fidelity bonds on all active officers and employees, whether or not they draw salary or compensation, which bonds shall provide for indemnity to such bank on account of any losses sustained by it as the result of any dishonest, fraudulent or […]
Section 58-1-68 – Authority to declare dividends.
The board of directors of a state bank may declare dividends not more than once in each calendar quarter from undivided profits if: (1) the undivided profits account has been maintained in accordance with the Banking Act; and (2) the reserve against deposits required by the Banking Act is not and will not thereby be […]
Section 58-1-69 – Capital, surplus and undivided profits; accounting requirements.
A. No credit shall be entered in the undivided profits account founded upon an unrealized appreciation in the value of any type of asset except accretion of discounts on investments securities in accordance with generally accepted accounting principles. Before any net profits are credited to the undivided profits account, proper deduction shall be made for […]