New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 17 - CREDIT UNIONS
Part 4 - CREDIT UNION SERVICE ORGANIZATION
Section 12.17.4.8 - CREDIT UNION SERVICE ORGANIZATIONS
Current through Register Vol. 35, No. 18, September 24, 2024
A. The purpose of a credit union service organization is to provide those goods and services and perform those functions that are associated with routine credit union operations. It may provide any or all of the following functions or services:
B. A credit union may, either by itself or in agreement with other entities, form or invest in a credit union service organization.
C. A credit union investing in or lending to a credit union service organization must submit call reports or any other information upon request by the director. In addition, a credit union service organization shall be subject to examination by the financial institutions division.
D. A credit union may invest in and lend to a credit union service organization within the following limits: