Section 58-1-75 – Liquidation by commissioner [director].
A. In liquidating a state bank, the commissioner [director of the financial institutions division of the regulation and licensing department] may exercise any power thereof but he shall not, without the approval of the court in which notice of possession has been filed: (1) sell any asset of the organization having a value in excess […]
Section 58-1-60 – First meetings of stockholders and directors; adoption of bylaws.
A. After the capital structure has been fully paid, a meeting of the stockholders shall be called by the incorporators to elect directors, to adopt bylaws and to call the first meeting of directors for the election of officers. B. Bylaws shall be adopted and may be amended by a vote of the holders of […]
Section 58-1-76 – Unauthorized conduct of banking business.
It is unlawful for any unauthorized person to engage in the business of holding deposits or to represent that he is or is acting for a bank or to use an artificial or corporate name that purports to be or suggests that it is the name of a bank. History: 1953 Comp., § 48-22-64, enacted […]
Section 58-1-61 – Certificate of authority.
A. A request for a certificate of authority shall be made to the commissioner [director of the financial institutions division of the regulation and licensing department] after he has approved the application to file the articles of incorporation with the corporation commission [public regulation commission] and all requirements have been met. The request shall contain: […]
Section 58-1-77 – Receipt of deposits while insolvent.
It is unlawful for a bank to receive any deposit while insolvent or for an officer, director or employee who knows or, in the proper performance of his duty, should know of such insolvency to receive or authorize the receipt of such deposit. History: 1953 Comp., § 48-22-65, enacted by Laws 1963, ch. 305, § […]
Section 58-1-62 – Amendment of articles of incorporation.
A. A state bank may apply to the commissioner [director of the financial institutions division of the regulation and licensing department] to amend its articles of incorporation or to change its location. B. An application for an amendment of the articles of incorporation changing the authorized capital or the number and par value of the […]
Section 58-1-78 – Unlawful service as officer or director.
It is unlawful for any person to serve as an officer or director of a bank, who: A. is an officer, director or employee of a directly competitive bank in the same community; B. has been convicted of an offense constituting, in the jurisdiction in which the judgment was rendered, a violation of the banking […]
Section 58-1-63 – Repealed.
ANNOTATIONS Repeals. — Laws 1991, ch. 12, § 3 repeals 58-1-63 NMSA 1978, being Laws 1963, ch. 305, § 51, relating to county with branch bank, effective June 14, 1991. For provisions of former section, see the 1990 NMSA 1978 on NMOneSource.com.
Section 58-1-64 – Meetings of stockholders; voting; proxies; voting trusts; preemptive right; transfer of stock; report of holdings.
A. Regular meetings of stockholders shall be held annually and at such additional times as the bylaws direct at a place designated by the bylaws. A special meeting may be called at any time by the commissioner [director of the financial institutions division of the regulation and licensing department], or one-third of the directors, or […]
Section 58-1-65 – Directors and officers.
A. The affairs of a state bank shall be managed by a board of directors, which shall exercise its powers and be responsible for the discharge of its duties. The number of directors, not less than three and not more than twenty-five, shall be fixed by the bylaws and the number so fixed shall be […]