Section 58-1C-9 - Powers; additional branches. - New-mexico Statutes

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Statutes > New-mexico > Chapter-58 > Article-1c > Section-58-1c-9

58-1C-9. Powers; additional branches.

A. An out-of-state state bank with branches in New Mexico authorized pursuant to the Interstate Bank Branching Act [58-1C-1 NMSA 1978] 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 Mexico that are permissible for a bank chartered by the host state where the branch is located.

C. An out-of-state bank that has acquired branches in New Mexico under the Interstate Bank Branching Act may establish or acquire additional branches in New Mexico to the same extent that any New Mexico bank may establish or acquire a branch in New Mexico pursuant to applicable federal and state law.

State Codes and Statutes

Statutes > New-mexico > Chapter-58 > Article-1c > Section-58-1c-9

58-1C-9. Powers; additional branches.

A. An out-of-state state bank with branches in New Mexico authorized pursuant to the Interstate Bank Branching Act [58-1C-1 NMSA 1978] 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 Mexico that are permissible for a bank chartered by the host state where the branch is located.

C. An out-of-state bank that has acquired branches in New Mexico under the Interstate Bank Branching Act may establish or acquire additional branches in New Mexico to the same extent that any New Mexico bank may establish or acquire a branch in New Mexico pursuant to applicable federal and state law.

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State Codes and Statutes

Statutes > New-mexico > Chapter-58 > Article-1c > Section-58-1c-9

58-1C-9. Powers; additional branches.

A. An out-of-state state bank with branches in New Mexico authorized pursuant to the Interstate Bank Branching Act [58-1C-1 NMSA 1978] 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 Mexico that are permissible for a bank chartered by the host state where the branch is located.

C. An out-of-state bank that has acquired branches in New Mexico under the Interstate Bank Branching Act may establish or acquire additional branches in New Mexico to the same extent that any New Mexico bank may establish or acquire a branch in New Mexico pursuant to applicable federal and state law.