New Mexico § 58-1-53 - General corporate powers
Full text of New Mexico New Mexico Statutes Annotated § 58-1-53 — General corporate powers, with citation guidance and answers to common questions.
§ 58-1-53. General corporate powers
State banks shall have: A. all the powers provided and conferred on them in the Banking Act and such general
corporate powers as are appropriate to its purpose; B. the power to act as a fiduciary in any capacity, after proper qualifications under
the Banking Act, and if authorized by its articles of incorporation or any amendment
thereto; C. perpetual succession by its corporate name unless a limited period of duration
is stated in its articles of incorporation; D. the power to sue and be sued in any court of law or equity; E. the power to make and use a common seal, and alter the same at pleasure; F. the power to appoint such officers and agents as the business of the corporation
shall require, and to allow them suitable compensation; and G. the power to make contributions to the extent authorized, approved or ratified
by action of the board of directors of the corporation, except as otherwise specifically
provided or limited by its articles of incorporation, or its bylaws, or by resolution
duly adopted by its stockholders, or by statute.
Frequently Asked Questions About New Mexico § 58-1-53
What does New Mexico Statutes Annotated § 58-1-53 cover?
Section 58-1-53 ("General corporate powers") 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 § 58-1-53?
A common citation format is "New Mexico Statutes Annotated § 58-1-53" (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 § 58-1-53 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.