This rule was filed as 12 NMAC 20.4.7.

TITLE 12 TRADE, COMMERCE AND BANKING

CHAPTER 20 SAVINGS AND LOAN ASSOCIATIONS

PART 47 LOCATION OF BRANCH OFFICES

12.20.47.1 Issuing agency: Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.

[8/15/80; 8/30/97; Recompiled 10/15/01]

12.20.47.2 Scope: All savings and loan associations chartered by the state of New Mexico.

[8/30/97; Recompiled 10/15/01]

12.20.47.3 Statutory authority: Subsection C of Section 58-10-17 NMSA 1978.

[8/30/97; Recompiled 10/15/01]

12.20.47.4 Duration: Permanent.

[8/30/97; Recompiled 10/15/01]

12.20.47.5 Effective date: August 15, 1980, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective August 30, 1997.

[8/15/80; 8/30/97; Recompiled 10/15/01]

[Compiler’s note: The words or paragraph, above, are no longer applicable. Later dates are now cited only at the end of sections, in the history notes appearing in brackets.]

12.20.47.6 Objective: The objective of this sub-part [now part] is to amend the requirement described herein for all state savings and loan associations that conform to the provisions of this regulation.

[8/30/97; Recompiled 10/15/01]

12.20.47.7 Definitions: [Reserved]

[8/30/97; Recompiled 10/15/01]

12.20.47.8 Location of branch offices: The provision contained in Section 58-10-17C NMSA 1978 (1979 Supp.), requiring that branch offices be located within a radius of one hundred statute air miles from the principal office of the parent association, shall not apply in the case of applications filed with the supervisor subsequent to July 1, 1980.

[8/15/80; 8/30/97; Recompiled 10/15/01]

History OF 12.20.47 NMAC:

Pre-NMAC History: The material in this part was derived from that previously filed with the State Records Center under:

FID 80-5, Regulation 80-3 S&LB, Location of Branch Offices, filed 8/15/80.

History of Repealed Material: [RESERVED]