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Can you summarize 58-26-6 NMSA?
Interstate Depository Institutions > Formation of new depository institutions.
Short Summary
Until July 1, 1992, no out-of-state depository institution or out-of-state holding company may form a new depository institution in New Mexico. After July 1, 1992, an out-of-state depository institution or out-of-state holding company may form a new depository institution in New Mexico, provided that the new depository institution has a minimum capital stock structure of at least seven million five hundred thousand dollars ($7,500,000), inclusive of common capital and surplus and undivided profits. History: Laws 1988, ch. 5, 6.
Jurisdiction
New Mexico