Any association may make loans on the sole security value of the accounts owned or otherwise pledged for or by the borrower. No such loan shall be made when an association has applications for withdrawal filed which have not been reached for payment.
§ 58-10-43 NMSA 1978
Loans on security of savings accounts
Known as the Savings and Loan Act
The act spans §§ 58–58 (111 sections).
1953 Comp., § 48-15-87, enacted by Laws 1967, ch. 61, § 43.
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.