New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 20 - SAVINGS AND LOAN ASSOCIATIONS
Part 41 - SIGNATURE GUARANTEEING
Section 12.20.41.8 - SIGNATURE GUARANTEEING

Universal Citation: 12 NM Admin Code 12.20.41.8

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

A. The supervisor finds that associations licensed under the provisions of the state statutes have the authority to guarantee customer signatures for documentary transactions in which an association has an interest as part of its deposit taking, lending or (in the case of an association which is also a trust company) trust business, as well as guarantees executed as a separate customer service with respect to stock transfers and similar transactions in which the association has no direct interest.

B. Nothing in this sub-part [now part] is to be construed as an intent to limit any powers possessed by an association under other statutory or regulatory provisions.

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