It is unlawful for any person to serve as an officer or director of a bank, who:
A. is an officer, director or employee of a directly competitive bank in the same community;
B. has been convicted of an offense constituting, in the jurisdiction in which the judgment was rendered, a violation of the banking laws or a felony, or who has been found liable, either in a civil or criminal action, for a breach of trust; or
C. is indebted to the bank for more than thirty days upon a judgment that has become final.
History: 1953 Comp., § 48-22-66, enacted by Laws 1963, ch. 305, § 66.
ANNOTATIONSProsecutions under general fraud and conspiracy statutes not prohibited. — There is no basis for holding that the specific language of this section prohibits prosecutions under the general fraud and conspiracy statutes. State v. Thoreen, 1978-NMCA-024, 91 N.M. 624, 578 P.2d 325, cert. denied, 91 N.M. 610, 577 P.2d 1256.
Bank cashier was guilty of embezzlement where he was unable to account for shrinkage in proceeds of sale of certain bonds entrusted to bank for sale. State v. Gaunt, 1926-NMSC-049, 32 N.M. 17, 250 P. 634 (decided under former law).
Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 180.
Officer or employee of depository or bailee as sustaining a criminal charge against him of embezzlement of property of depositor or bailor, 45 A.L.R. 933.
Liability of bank in respect to funds of third persons misappropriated by bank officer or employee and used to cover his own overdraft or defalcation, 48 A.L.R. 464.
Aiding and abetting misapplication of bank funds by officer or employee, criminal responsibility for, 74 A.L.R. 1112, 131 A.L.R. 1322.
Rights and liabilities of bank paying or giving credit for personal check of own officer whose account is not good, 171 A.L.R. 880.
9 C.J.S. Banks and Banking §§ 107, 113, 115, 121.