Any federal association whose principal office is located in New Mexico is not a foreign corporation. Unless federal laws or regulations provide otherwise, such federal association and its members possesses [possess] all rights, powers, privileges, benefits, immunities and exceptions now or hereafter provided by the laws of this state for associations and for the members and savings account holders thereof. This section is additional and supplemental to any provision which, by specific reference, is applicable to federal associations and their members.
§ 58-10-102 NMSA 1978
Federal associations; applicability
Known as the Savings and Loan Act
The act spans §§ 58–58 (111 sections).
1953 Comp., § 48-15-142, enacted by Laws 1967, ch. 61, § 98.
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.