A. Credit unions shall report to the director quarterly on or before January 30, April 30, July 30 and October 30. Reports shall be on forms supplied by the director. The director may require additional reports.
B. A charge of twenty-five dollars ($25.00) shall be levied for each day a credit union fails to provide a required report, unless that charge is by the director excused for cause.
History: Laws 1987, ch. 311, § 7; 1989, ch. 209, § 9; 2003, ch. 28, § 3.
ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed former 58-11-7 NMSA 1978, as amended by Laws 1975, ch. 344, § 7, relating to membership, effective June 19, 1987, and enacted a new 58-11-7 NMSA 1978.
Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.
The 2003 amendment, effective June 20, 2003, substituted "quarterly on or before January 30, April 30, July 30 and October 30" for "semiannually on or before July 30 and January 30" near the middle of Subsection A.