New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 16 - BANKING
Part 3 - FORMULA FOR DETERMINING THE NET WORTH OF BANK MAIN OFFICES AND BRANCHES
Section 12.16.3.6 - OBJECTIVE
Universal Citation: 12 NM Admin Code 12.16.3.6
Current through Register Vol. 35, No. 18, September 24, 2024
The objective of this sub-part [now part] is to provide a formula for determining the net worth of bank main offices and branches for the purpose of the distribution of public money as required by the above referenced statutory authority. The formula is necessary, because bank main offices and branches do not have a "net worth" separate and apart from the net worth of the bank as a whole. The formula provides a means of allocating portions of the bank's net worth to its individual facilities.
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