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.
§ 58-1-76 NMSA 1978
Unauthorized conduct of banking business
Known as the Banking Act
The act spans §§ 58–58 (88 sections).
1953 Comp., § 48-22-64, enacted by Laws 1963, ch. 305, § 64; 1997, ch. 23, § 8.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.