New Mexico § 45-6-227 - Set-off
Full text of New Mexico New Mexico Statutes Annotated § 45-6-227 — Set-off, with citation guidance and answers to common questions.
§ 45-6-227. Set-off
Without qualifying any other statutory right to set-off or lien and subject to any
contractual provision, if a party is indebted to a financial institution, the financial
institution has a right to set-off against the account. The amount of the account subject to set-off is the proportion to which the party
is, or immediately before death was, beneficially entitled under Section 45-6-211 NMSA 1978 or, in the absence of proof of that proportion, an equal share with all parties.
Frequently Asked Questions About New Mexico § 45-6-227
What does New Mexico Statutes Annotated § 45-6-227 cover?
Section 45-6-227 ("Set-off") 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 § 45-6-227?
A common citation format is "New Mexico Statutes Annotated § 45-6-227" (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 § 45-6-227 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.