There is no limit on the number and value of savings accounts an association may accept unless limits are fixed by its board of directors or by Section 67 [ 58-10-68 NMSA 1978] of the Savings and Loan Act. Any association may refuse to accept deposits as it deems advisable.
§ 58-10-51 NMSA 1978
Limitation on savings accounts
Known as the Savings and Loan Act
The act spans §§ 58–58 (111 sections).
1953 Comp., § 48-15-95, enacted by Laws 1967, ch. 61, § 51.
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.