No officer or employee of the division having supervisory authority over credit unions shall be a member, executive officer, director, attorney or employee of any credit union incorporated under or subject to the provisions of the Credit Union Act; receive, directly or indirectly, any payment of gratuity from any such credit union; or be indebted to or engage in the negotiation of loans for others with any such credit union.
History: Laws 1987, ch. 311, § 9; 1991, ch. 51, § 4; 1997, ch. 195, § 5.
ANNOTATIONSRepeals and reenactments. — Laws 1987, Chapter 311 repealed former 58-11-9 NMSA 1978, as amended by Laws 1975, ch. 344, § 9, relating to disposition of fees, effective June 19, 1987, and enacted a new 58-11-9 NMSA 1978.
Laws 1987, ch. 298, § 3, purported to amend former 58-11-9 NMSA 1978 but could not be given effect because of the subsequent repeal by laws 1987, ch. 311, § 9.
The 1997 amendment, effective July 1, 1997, substituted "Credit Union Act" for "Credit Union Regulatory Act".
Laws 1997, ch. 195, § 42 repealed Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.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 1991 amendment, effective July 1, 1991, inserted "executive" and substituted "attorney or employee" for "or attorney".