Statutes > New Mexico Statutes > Chapter 58 - Financial Institutions and Regulations. > Article 10 - Savings and Loan Associations, 58-10-1 through 58-10-111. > Section 58-10-43 - Loans on security of savings accounts.

Section 58-10-43 - Loans on security of savings accounts.

58-10-43. Loans on security of savings accounts.

Any association may make loans on the sole security value of the accounts owned or otherwise pledged for or by the borrower. No such loan shall be made when an association has applications for withdrawal filed which have not been reached for payment.