Every bank shall make and file with the director reports not to exceed five in number during the calendar year, according to the form that may be prescribed by the director, verified by the oath of the president or cashier of incorporated banks and attested by the signature of three or more directors. Each such report shall exhibit in detail and as may be required by the director the resources and liabilities of the bank at the close of business on a day past to be specified by the director in writing, the days past to be the days named by the comptroller of the currency in his official calls for reports of national banks. When the calls of the comptroller are less than five in number, the director may make additional calls on such dates as he deems advisable. The reports shall be transmitted to the director within thirty days after the call of the director. The director has power to call for special reports from any particular bank whenever, in his judgment, they are necessary to a full and complete understanding and knowledge of its condition. The reports required by and filed pursuant to this section shall be in lieu of all others required by law from banks. Every bank failing to comply with the provisions of this section shall pay to the director a penalty of fifty dollars ($50.00) for each day's delay.
History: 1953 Comp., § 48-22-33.6, enacted by Laws 1975, ch. 330, § 24; 1983, ch. 83, § 1; 1989, ch. 209, § 4; 1991, ch. 120, § 2; 1995, ch. 190, § 8.
ANNOTATIONSCross references. — For meaning of director, see 58 1 3 NMSA 1978.
The 1995 amendment, effective June 16, 1995, deleted "publication" following "condition" in the section heading, substituted "that" for "which" in the first sentence, deleted "and the substance of the reports shall be published by the bank in such form as may be prescribed by the director in a newspaper of general circulation printed in the city or town where the bank is located or, if there is no newspaper of general circulation printed in the city or town, in the newspaper of general circulation published nearest to the city or town within New Mexico" from the end of the fourth sentence, deleted the former fifth sentence which read, "Proof of the publication shall be filed with the director within thirty days from the date of the call and in such form as the director may prescribe", and deleted "but no such special report or any summary of the report shall be required to be published" from the end of the fifth sentence.
The 1991 amendment, effective June 14, 1991, in the first sentence, substituted "the director, verified by the oath of the president or cashier" for "him verified by the oath of the president or vice president and cashier or secretary", in the fourth sentence, substituted "thirty days after the call of the director, and the substance of the reports" for "twenty days after the call of the director therefor, and the substance thereof", and in the sixth sentence, substituted "or any summary of the report" for "nor any summary thereof".
Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 18.
9 C.J.S. Banks and Banking §§ 27, 122 et seq., 227 et seq., 481.