It is unlawful for a bank to receive any deposit while insolvent or for an officer, director or employee who knows or, in the proper performance of his duty, should know of such insolvency to receive or authorize the receipt of such deposit.
§ 58-1-77 NMSA 1978
Receipt of deposits while insolvent
Known as the Banking Act
The act spans §§ 58–58 (88 sections).
1953 Comp., § 48-22-65, enacted by Laws 1963, ch. 305, § 65.
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.