New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 20 - SAVINGS AND LOAN ASSOCIATIONS
Part 50 - POWER TO BORROW, FINANCE SUBSIDIARIES
Section 12.20.50.8 - POWER TO BORROW; FINANCE SUBSIDIARIES
Universal Citation: 12 NM Admin Code 12.20.50.8
Current through Register Vol. 35, No. 6, March 26, 2024
Notwithstanding any provision of the Savings and Loan Act to the contrary, every association or corporation chartered under the provisions of the savings and loan laws of this state may, without limitation as to aggregate amount, borrow, give security and issue notes, bonds, debentures or other obligations or other securities, including capital stock, directly or indirectly through a finance subsidiary; and may invest in, transfer or make available assets to any such finance subsidiary to the same extent it could if it were a federal savings and loan association.
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