Every approval or rejection by the supervisor given pursuant to the provisions of the Savings and Loan Act, and every communication having the effect of an order or instruction to any association, shall be sent by mail to the association affected, addressed to its president at the principal office of the association, and shall be presented to the board of directors of the association at its next regular meeting, or at a special meeting called for the purpose, and noted in the minutes of the meeting.
History: 1953 Comp., § 48-15-127, enacted by Laws 1967, ch. 61, § 83.
ANNOTATIONSCross references. — For meaning of "supervisor", see 58-10-2J NMSA 1978.