In addition to other powers provided for the director and for credit unions organized under or subject to the Credit Union Act and notwithstanding any law to the contrary, the director may adopt such rules and regulations as he deems necessary and proper, granting to state credit unions any of the powers and authority that federal credit unions are or may hereafter be authorized, empowered, permitted or otherwise allowed to exercise under federal statutes, rules or regulations.
§ 58-11-20 NMSA 1978
Advantageous federal powers
Known as the Credit Union Act
The act spans §§ 58–58 (67 sections).
Laws 1987, ch. 311, § 20; 1997, ch. 195, § 15.
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.