New Mexico Administrative Code

All savings and loan associations chartered by the state of New Mexico.

Sections 58-10-72 and 58-10-73 NMSA 1978.

Permanent.

March 31, 1978, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective August 30, 1997.

The objective of this sub-part [now part] is to bring to state savings and loan associations the reporting requirements that conform to the provisions of this regulation.

[Reserved]

A. The officers of each savings and loan association shall make a monthly report to the association's board of directors on forms prescribed by the savings and loan supervisor, and shall forward one copy of such report to the savings and loan supervisor. (The savings and loan sup…

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.

All savings and loan associations chartered by the state of New Mexico.

Subsection C of Section 58-10-17 NMSA 1978.

Permanent.

August 15, 1980, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective August 30, 1997.

The objective of this sub-part [now part] is to amend the requirement described herein for all state savings and loan associations that conform to the provisions of this regulation.

[Reserved]

The provision contained in Section 58-10-17 C NMSA 1978 (1979 Supp.), requiring that branch offices be located within a radius of one hundred statute air miles from the principal office of the parent association, shall not apply in the case of applications filed with the supervis…

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100

A. An association may invest in the capital stock, obligations or other securities of service corporations, provided that its aggregate outstanding investment does not exceed three percent of assets, and any investment in excess of two percent of assets serves primarily community…

All savings and loan associations chartered by the state of New Mexico.

Section 58-10-50 NMSA 1978.

Permanent.

November 17, 1980, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective September 15, 1997.

The objective of this sub-part [now part] is to bring to state savings and loan associations the authority to invest in service corporations within the provisions of this sub-part [now part].

A. "Aggregate outstanding investment" means the sum of amounts paid to acquire capital stock or securities and amounts invested in obligations of service corporations less amounts received from the sale of capital stock or securities of service corporations and amounts paid to th…

An association may invest in the capital stock, obligations or other securities of a service corporation organized under the law of the state of New Mexico if: A. the service corporation's entire capital stock is available for purchase by, and only by, any and all savings and loa…

In addition to investment in service corporations under Section 8 of this Sub-part [now 12.20.48.8 NMAC], an association may invest in the capital stock or other securities of a service corporation organized under the laws of this state if: A. the corporation's entire capital sto…

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.

All savings and loan associations chartered by the state of New Mexico.

Sections 58-10-72 and 58-10-83 NMSA 1978.

Permanent.

October 15, 1982, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective September 15, 1997.

The objective of this sub-part [now part] is to expand the powers of savings and loan associations.

[Reserved]

A. Demand deposits: An association may accept non-interest-bearing demand deposits from: (a) a commercial, corporate, business or agricultural entity for the sole purpose of effectuating payments thereto by a non business customer; or (b) any person or organization having a busin…

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100

All savings and loan associations chartered by the state of New Mexico.

Section 58-10-50 NMSA 1978.

Permanent.

April 11, 1985, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective Sepember 15, 1997.

The objective of this sub-part [now part] is to permit financial institutions chartered under the provisions of the statutes of this state to have the same powers as a federal institution with regard to a finance subsidiary.

[Reserved]

Notwithstanding any provision of the Savings and Loan Act to the contrary, every association or corporation chartered under the provisions of the savings and loan laws of this state may, without limitation as to aggregate amount, borrow, give security and issue notes, bonds, debe…

Financial Institutions Division of the Regulation and Licensing Department.

All state chartered savings and loan associations otherwise subject to the Home Loan Protection Act, Sections 58-21A-1 to -14 NMSA 1978 (2003) ("Act").

Sections 58-10-50 and 58-10-72 NMSA 1978.

Permanent.

March 3, 2004, unless a later date is cited at the end of a section.

The objective of this part is to grant state chartered savings and loan associations the same powers and authority that federally chartered savings associations are authorized, empowered, permitted or otherwise allowed to exercise.

[RESERVED]

A. Section 58-10-50 NMSA 1978, authorizes the director to grant by regulation the rights, powers, privileges, immunities and exceptions possessed by federally chartered savings associations. B. The office of thrift supervision, department of the treasury, the "OTS," is authorized…

State chartered savings and loan associations are provided the same powers and authority granted to federally chartered savings associations as a result of the OTS preemption.