New Mexico § 58-1-26 - Acquisition of banking premises and equipment
Full text of New Mexico New Mexico Statutes Annotated § 58-1-26 — Acquisition of banking premises and equipment, with citation guidance and answers to common questions.
§ 58-1-26. Acquisition of banking premises and equipment
A. A state bank may acquire real estate and equipment and improve real estate to be
used in the transaction of its business and may rent to others any space so acquired
in a building in excess of actual need. Unless a larger investment is authorized by the director of the financial institutions
division of the regulation and licensing department, no bank shall invest: (1) more than sixty percent of capital and surplus in land, building and equipment
(other than safe deposit equipment); nor (2) more than ten percent of capital and surplus, in addition to the above, in safe
deposit equipment. B. A state bank may become the owner and lessor of personal property acquired upon
the specific request and for the use of a customer and may incur such additional obligations
as may be incident to becoming an owner and lessor of such property.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 58-1-26
What does New Mexico Statutes Annotated § 58-1-26 cover?
Section 58-1-26 ("Acquisition of banking premises and equipment") 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 § 58-1-26?
A common citation format is "New Mexico Statutes Annotated § 58-1-26" (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 § 58-1-26 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.