Section 58-10-106 – Effect of lessee’s death or incapacity.
When a lessor, without knowledge of a lessee’s death or of an adjudication of his incapacity, deals with a lessee’s agent pursuant to a written power of attorney signed by the lessee, the transaction binds the lessee’s estate and the lessee. History: 1953 Comp., § 48-15-146, enacted by Laws 1971, ch. 242, § 6; 1975, […]
Section 58-10-107 – Lease to minor.
A lessor may lease a safe deposit box to, and in this connection deal with, a minor with the same effect as if leasing to, and dealing with, a person of full legal capacity. History: 1953 Comp., § 48-15-147, enacted by Laws 1971, ch. 242, § 7. ANNOTATIONS Cross references. — For the age of […]
Section 58-10-98 – Conversion into federal association.
Any association may convert itself into a federal association in accordance with the provisions of the Home Owners Loan Act of 1933, as amended, upon a vote of fifty-one percent or more of the votes of the members cast at an annual meeting or at any special meeting called for the purpose. A copy of […]
Section 58-10-99 – Conversion into state chartered association.
Any federal association may convert itself into an association under the Savings and Loan Act upon a vote of fifty-one percent or more of the votes of members of the federal association cast at an annual meeting or at a special meeting called for the purpose. Copies of the minutes of the proceedings of the […]
Section 58-10-84 – When order is final; appeal.
A. If a hearing has been held in regard to an order made pursuant to Section 58-10-80 or 58-10-81 NMSA 1978 and the supervisor’s order is continued either in its original form or a modified form, the order is final when the supervisor enters his decision in the record of the hearing after the hearing. […]
Section 58-10-85 – Receivership.
If, in the judgment of the supervisor, the public interest requires it, he may apply to the district court of the county in which the principal office of any association is located for the appointment of a receiver for the association. The court shall appoint a receiver as applied for if it finds that either […]
Section 58-10-86 – Communications from supervisor.
Every approval or rejection by the supervisor given pursuant to the provisions of the Savings and Loan Act, and every communication having the effect of an order or instruction to any association, shall be sent by mail to the association affected, addressed to its president at the principal office of the association, and shall be […]
Section 58-10-87 – Reorganization; merger; consolidation.
Pursuant to a plan adopted by the board of directors and approved by the supervisors [supervisor] as equitable to the members of the association and as not impairing the usefulness and success of other properly conducted associations in the same vicinity, an association may reorganize or merge or consolidate with another association or federal association. […]
Section 58-10-88 – Voluntary liquidation.
At any annual meeting or any special meeting called for the purpose, any association may, by majority vote of its members or stockholders who are entitled to vote, resolve to liquidate and dissolve the association. Before the resolution takes effect, a copy certified by the president and the secretary of the association, together with an […]
Section 58-10-89 – Exemption from securities laws.
Associations, their officers, employees and agents, savings accounts and the sale, issuance, transfer and offering of savings accounts of any association or federal association are exempt from laws of this state which provide for supervision, registration or regulation in connection with the sale, issuance, transfer or offering of securities, insofar as such savings accounts are […]