Section 58-1-54 - Powers of director and of state banks.
58-1-54. Powers of director and of state banks.
In addition to other powers provided for the director and for state banks in the Banking Act [58-1-1 NMSA 1978] notwithstanding any other provision of laws, the director may grant to state banks any of the powers and authority that national banks or federally chartered or insured depository institutions are or may be authorized, empowered, permitted or otherwise allowed to exercise. As used in this section and in Section 58-1-34 NMSA 1978, "federally chartered or insured depository institution" means a bank, savings bank, savings and loan association or credit union.