New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 16 - BANKING
Part 60 - OPERATING SUBSIDIARIES
Section 12.16.60.6 - OBJECTIVE
Universal Citation: 12 NM Admin Code 12.16.60.6
Current through Register Vol. 35, No. 18, September 24, 2024
The objective of this regulation is to provide New Mexico state banks with authority to establish operating subsidiary corporations to conduct only business the bank could conduct directly. This authority is provided to national banks by 12 C.F.R. Section 5.34, Operating Subsidiaries.
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