New Mexico § 58-1-6 - Designating agent
Full text of New Mexico New Mexico Statutes Annotated § 58-1-6 — Designating agent, with citation guidance and answers to common questions.
§ 58-1-6. Designating agent
A. A bank may continue to recognize the authority of an agent authorized in writing
to operate, in whole or in part, the account of a depositor, until it receives written
notice of the revocation of his authority. B. Knowledge of the death or adjudication of incapacity of such depositor shall constitute
written notice of revocation of the authority of his agent. C. Notwithstanding that a bank has received written notice of revocation of the authority
of such agent, it may, until ten days after receipt of such notice, pay any item apparently
made, drawn, accepted or indorsed by such agent prior to such revocation, provided
that such item is otherwise properly payable. D. No bank shall be liable for damages, penalty or tax by reason of any payment made
pursuant to this section.
Frequently Asked Questions About New Mexico § 58-1-6
What does New Mexico Statutes Annotated § 58-1-6 cover?
Section 58-1-6 ("Designating agent") 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 § 58-1-6?
A common citation format is "New Mexico Statutes Annotated § 58-1-6" (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 § 58-1-6 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.