New Mexico § 58-1-46 - Examinations and reports
Full text of New Mexico New Mexico Statutes Annotated § 58-1-46 — Examinations and reports, with citation guidance and answers to common questions.
§ 58-1-46. Examinations and reports
A. The director shall examine the condition of each state bank at least once in each
twelve-month period. A report of examination shall be sent to the board of directors of the organization
examined. B. A bank may be examined within each eighteen-month period if: (1) the bank has total assets of less than two hundred fifty million dollars ($250,000,000); (2) the bank is well-capitalized; (3) when the bank was most recently examined, it was found to be well-managed, and
its composite condition was found to be outstanding; or for a bank that has total
assets of not more than one hundred million dollars ($100,000,000), it was found to
be outstanding or good; (4) the bank is not subject to a formal enforcement proceeding or order; and (5) no person acquired control of the bank during the twelve-month period in which
an examination would be required but for this subsection. C. Whenever the director deems it necessary, he may examine any corporation, the majority
of the stock of which is owned by a state bank or which he finds is controlled by
a state bank.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 58-1-46
What does New Mexico Statutes Annotated § 58-1-46 cover?
Section 58-1-46 ("Examinations and reports") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 58-1-46?
A common citation format is "New Mexico Statutes Annotated § 58-1-46" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 58-1-46 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.