Section 58-26-5 - Interstate acquisitions; notice.
58-26-5. Interstate acquisitions; notice.
At least ninety days prior to any interstate acquisition permitted by the Interstate Depository Institutions Act [58-26-1 NMSA 1978], the out-of-state depository institution or out-of-state holding company seeking to make an interstate acquisition shall file a notice of intent to make an interstate acquisition with the director. The director shall promulgate the form for such notice. Unless the shareholders of the domestic depository institution or domestic holding company sought to be accquired [acquired] have approved the interstate acquisition as required by applicable law, the director shall immediately notify any domestic depository institution or domestic holding company sought to be acquired in an interstate acquisition of the filing of any such notice and shall provide a copy of the notice to such domestic depository institution or domestic holding company.