Outstanding items considered as savings accounts.

  1. Law
  2. New Mexico Statutes
  3. Financial Institutions and Regulations
  4. Savings and Loan Associations
  5. Outstanding items considered as savings accounts.

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From the effective date of the Savings and Loan Act, any shares, stock, share accounts and investment certificates, except permanent capital stock and except shares or share accounts not entitled to dividends, which an association subject to the Savings and Loan Act has outstanding shall be considered as savings accounts.

History: 1953 Comp., § 48-15-132, enacted by Laws 1967, ch. 61, § 88.

ANNOTATIONS

Effective dates. — Laws 1967, ch. 61, § 101, made the Savings and Loan Act effective on July 1, 1967.

Money placed in a savings and loan association is not called a deposit. 1968 Op. Att'y Gen. No. 68-19.


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