Investments in savings accounts may be made only in cash and may be made by any person in his own right or in a trust or other fiduciary capacity and by any partnership, association, corporation [or] federal entities which are authorized to open such savings accounts, subject to any limitation fixed by the board of directors or the association's refusal to accept deposits.
History: 1953 Comp., § 48-15-96, enacted by Laws 1967, ch. 61, § 52.
ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not a part of the law.
Cross references. — For procedures governing administrative appeals to the district court, see Rule 1-074 NMRA.
Compiler's notes. — For scope of review of the district court, see Zamora v. Village of Ruidoso Downs, 120 N.M. 778, 907 P.2d 182 (1995).
Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 4.
9 C.J.S. Banks and Banking § 609.