New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 16 - BANKING
Part 75 - LOAN PRODUCTION OFFICES
Section 12.16.75.6 - OBJECTIVE
Universal Citation: 12 NM Admin Code 12.16.75.6
Current through Register Vol. 35, No. 18, September 24, 2024
It is the purpose of this regulation to allow a bank which receives prior approval by the financial institutions division to operate loan production offices (LPO) in New Mexico. The establishment and operation of an LPO by a bank shall not violate state branch banking restrictions provided that the LPO is operated in accordance with the provisions of this regulation.
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