Any incorporated bank may apply to the federal reserve board for the right to subscribe to the stock of the federal reserve bank organized within the federal reserve district where the applicant bank is located, and may become a stockholder of such bank and exercise all of the powers of member banks in accordance with the provisions of the act of congress entitled "Federal Reserve Act," approved December 23, 1913.
§ 58-5-8 NMSA 1978
[Federal reserve; bank may become stockholder or member.]
Laws 1915, ch. 67, § 96; 1919, ch. 120, § 35; C.S. 1929, § 13-701; 1941 Comp., § 50-222; 1953 Comp., § 48-2-27.
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.