Investments in savings accounts may be made only in cash and may be made by any person in his own right or in a trust or other fiduciary capacity and by any partnership, association, corporation [or] federal entities which are authorized to open such savings accounts, subject to any limitation fixed by the board of directors or the association's refusal to accept deposits.
§ 58-10-54 NMSA 1978
Who may open a savings account
Known as the Savings and Loan Act
The act spans §§ 58–58 (111 sections).
1953 Comp., § 48-15-96, enacted by Laws 1967, ch. 61, § 52.
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.