Statutes > New Mexico Statutes > Chapter 58 - Financial Institutions and Regulations. > Article 1 - Banking Generally, 58-1-1 through 58-1-85. > Section 58-1-77 - Receipt of deposits while insolvent.

Section 58-1-77 - Receipt of deposits while insolvent.

58-1-77. Receipt of deposits while insolvent.

It is unlawful for a bank to receive any deposit while insolvent or for an officer, director or employee who knows or, in the proper performance of his duty, should know of such insolvency to receive or authorize the receipt of such deposit.