New Mexico § 58-1-32 - Director of the financial institutions division; appointment and qualifications; salary
Full text of New Mexico New Mexico Statutes Annotated § 58-1-32 — Director of the financial institutions division; appointment and qualifications; salary, with citation guidance and answers to common questions.
§ 58-1-32. Director of the financial institutions division; appointment and qualifications; salary
Upon the effective date of the Commerce and Industry Department Act, the title of
the commissioner of banking shall be changed to the “director of the financial institutions
division”. All powers and duties heretofore vested by law or otherwise in the state bank examiner
or commissioner of banking are hereby transferred to the director of the financial
institutions division and all statutory references to the state bank examiner or commissioner
of banking shall be construed to mean the director of the financial institutions division. The director of the financial institutions division shall be appointed by the secretary
of the commerce and industry department by and with the governor's approval and by
and with the consent of the senate for a term of four years, which term shall expire
when his successor is duly appointed and qualified. He shall not be interested as a stockholder in any bank, savings and loan association,
small loan licensee in this state or any corporation qualified or qualifying under Section 48-18-19.6 NMSA 1953 , and shall be fully qualified to perform the duties of the office. The director of the financial institutions division shall be the head of the financial
institutions division and its bureaus. The director of the financial institutions division may appoint an examiner as deputy
director to have all his powers and duties in the absence of the director and may
delegate such of his authority and duties to other examiners as he sees fit.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 58-1-32
What does New Mexico Statutes Annotated § 58-1-32 cover?
Section 58-1-32 ("Director of the financial institutions division; appointment and qualifications; salary") 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 § 58-1-32?
A common citation format is "New Mexico Statutes Annotated § 58-1-32" (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 § 58-1-32 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.