New Mexico Statutes Chapter 58. Financial Institutions and Regulations § 58-1-78. Unlawful service as officer or director
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It is unlawful for any person to serve as an officer or director of a bank, who:
A. is an officer, director or employee of a directly competitive bank in the same community;
B. has been convicted of an offense constituting, in the jurisdiction in which the judgment was rendered, a violation of the banking laws or a felony, or who has been found liable, either in a civil or criminal action, for a breach of trust; or
C. is indebted to the bank for more than thirty days upon a judgment that has become final.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 58. Financial Institutions and Regulations § 58-1-78. Unlawful service as officer or director - last updated May 06, 2021 | https://codes.findlaw.com/nm/chapter-58-financial-institutions-and-regulations/nm-st-sect-58-1-78.html
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