New Mexico § 58-1-7 - Adverse claim to deposit
Full text of New Mexico New Mexico Statutes Annotated § 58-1-7 — Adverse claim to deposit, with citation guidance and answers to common questions.
§ 58-1-7. Adverse claim to deposit
Notice to any bank of an adverse claim to a deposit with such bank need not be recognized,
and shall not be deemed effective, unless and until either the person making the claim
supplies indemnity deemed adequate by the bank or the bank is served with process
or order issued by a court of competent jurisdiction in an action in which the adverse
claimant and the person or persons nominally entitled to the deposit are parties,
provided that the bureau of revenue [revenue division of the taxation and revenue
department] may levy against a deposit in accordance with the provisions of Section 7-1-31 NMSA 1978 .
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 58-1-7
What does New Mexico Statutes Annotated § 58-1-7 cover?
Section 58-1-7 ("Adverse claim to deposit") 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 § 58-1-7?
A common citation format is "New Mexico Statutes Annotated § 58-1-7" (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 § 58-1-7 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.