Sections 14 through 27 [58-1C-1 to 58-1C-13 NMSA 1978] of this act may be cited as the “Interstate Bank Branching Act”. History: Laws 1996, ch. 2, § 14. ANNOTATIONS Cross references. — For the Interstate Bank Acquisition Act, see Chapter 58, Article 1B NMSA 1978.
A. To the extent consistent with Subsection C of this section, the director may make examinations of any branch established and maintained in this state by an out-of-state state bank pursuant to the Interstate Bank Branching Act as the director deems necessary to determine whether the branch is being operated in compliance with the laws […]
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 […]
The director may adopt regulations necessary or appropriate to implement the provisions of the Interstate Bank Branching Act. History: Laws 1996, ch. 2, § 25. ANNOTATIONS
An out-of-state state bank that has established and maintains a branch in this state pursuant to the Interstate Bank Branching Act shall give at least thirty days prior written notice or, in the case of an emergency transaction, shorter notice consistent with applicable state or federal law to the director of any merger, consolidation or […]
The purpose of the Interstate Bank Branching Act is to permit interstate bank branching by merger pursuant to the provisions of the federal Regle-Neal Interstate Banking and Branching Efficiency Act of 1994, P.L. 103-328. History: Laws 1996, ch. 2, § 15. ANNOTATIONS Compiler’s notes. — The Regle-Neal Interstate Banking and Branching Efficiency Act primarily amended […]
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 […]
A. If it obtains the prior approval of the director, a New Mexico state bank may establish, maintain and operate one or more branches in a state other than New Mexico pursuant to an interstate merger transaction in which the New Mexico state bank is the resulting bank. B. Not later than the date on […]
A. One or more New Mexico banks may enter into an interstate merger transaction with one or more out-of-state banks pursuant to the Interstate Bank Branching Act, and an out-of-state bank resulting from the transaction may maintain and operate as branches in New Mexico the former New Mexico banks that participated in the transaction if […]
Interstate branching, either de novo or by acquisition of one or more branches, not involving all or substantially all of the assets and branches of a New Mexico bank is prohibited. History: Laws 1996, ch. 2, § 19. ANNOTATIONS
An out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a New Mexico state bank shall notify the director of the proposed merger no later than the date on which it files an application for an interstate merger transaction with the responsible federal bank supervisory agency. The out-of-state bank […]
An interstate merger transaction prior to June 1, 1997 resulting in a New Mexico branch of an out-of-state bank shall not be consummated and any out-of-state bank resulting from such a merger shall not operate a branch in New Mexico, unless the director first: A. finds that the laws of the home state of each […]
A. An out-of-state state bank with branches in New Mexico authorized pursuant to the Interstate Bank Branching Act may conduct any activities at its branches that are authorized pursuant to the laws of this state for New Mexico state banks. B. A New Mexico state bank may conduct any activities at any branch outside New […]
