Notwithstanding the provisions of Sections 6-10-36 or 6-10-44 NMSA 1978 requiring equitable or ratable deposits in banks and savings and loan associations, a treasurer or board of finance, in its discretion may deposit its public money in one or more credit unions as long as each deposit is insured by an agency of the United States.
§ 6-10-44.1 NMSA 1978
Deposits in credit unions
Known as the Warrant Cancellation Act
The act spans §§ 6–6 (74 sections).
1978 Comp., § 6-10-44.1, enacted by Laws 1987, ch. 79, § 18.
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.