Statutes > New Mexico Statutes > Chapter 58 - Financial Institutions and Regulations. > Article 5 - Organization and Management, 58-5-1 through 58-5-11. > Section 58-5-3 - Branch banks; permit to open; powers; location.

Section 58-5-3 - Branch banks; permit to open; powers; location.

58-5-3. Branch banks; permit to open; powers; location.

Branches of banks authorized under the provisions of this article are authorized to accept deposits, cash checks, buy and sell exchange, make loans and do a general banking business.  A permit to open the branch shall first be obtained from the director.