New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 20 - SAVINGS AND LOAN ASSOCIATIONS
Part 35 - REAL ESTATE AND OTHER LOANS
Section 12.20.35.16 - LOANS GUARANTEED UNDER COMMERCIAL AND INDUSTRIAL DEVELOPMENT PROGRAMS

Universal Citation: 12 NM Admin Code 12.20.35.16

Current through Register Vol. 35, No. 18, September 24, 2024

Without regard to other limitations, an association may invest in loans on the security of first liens on other improved real estate, provided the loans are guaranteed by one of the following agencies under authority specified herein, and the loan terms are acceptable to the guaranteeing agency:

A. Economic development administration (under the Public Works and Economic Development Act of 1965, as amended, or the successor to that Act; or the Trade Act of 1974, as amended);

B. Farmers home administration (under the Consolidated Farm and Rural Development Act of 1974, as anended);

C. Small business administration (under the Small Business Investment Act of 1958, as amended; or the Small Business Act of 1953, as amended).

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