Loans on security of savings accounts.

  1. Law
  2. New Mexico Statutes
  3. Financial Institutions and Regulations
  4. Savings and Loan Associations
  5. Loans on security of savings accounts.

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Any association may make loans on the sole security value of the accounts owned or otherwise pledged for or by the borrower. No such loan shall be made when an association has applications for withdrawal filed which have not been reached for payment.

History: 1953 Comp., § 48-15-87, enacted by Laws 1967, ch. 61, § 43.

ANNOTATIONS

Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 684, 686.

9 C.J.S. Banks and Banking § 466.


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