New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 11 - SECURITIES
Part 4 - BROKER-DEALER AND AGENTS RULES OF CONDUCT AND PROHIBITED BUSINESS PRACTICES
Section 12.11.4.12 - NET WORTH WITHDRAWALS PROHIBITED
Universal Citation: 12 NM Admin Code 12.11.4.12
Current through Register Vol. 35, No. 18, September 24, 2024
No broker-dealer shall permit or effect a withdrawal of any part of its net worth, including subordinated indebtedness, whether by redemption, retirement, repurchase, repayment, or otherwise, that would cause its net capital or its aggregate indebtedness to violate Subsections A or B of 12.11.2.18 NMAC, without prior written approval of the director.
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