The purpose of the Interstate Bank Acquisition Act is to establish the conditions under which a company may acquire a New Mexico bank or a New Mexico bank holding company. In enacting it the legislature intends to avoid discrimination against out-of-state bank holding companies or foreign bank holding companies in any manner that would violate Section 3(d) of the Bank Holding Company Act.
§ 58-1B-3 NMSA 1978
Purpose and intent of act
Known as the Interstate Bank Acquisition Act
The act spans §§ 58–58 (11 sections).
Laws 1996, ch. 2, § 3.
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.