Statutes > New Mexico Statutes > Chapter 58 - Financial Institutions and Regulations. > Article 1 - Banking Generally, 58-1-1 through 58-1-85. > Section 58-1-70 - Deposit insurance; membership in federal reserve system.

Section 58-1-70 - Deposit insurance; membership in federal reserve system.

58-1-70. Deposit insurance; membership in federal reserve system.

A state bank shall obtain insurance of its deposits by the United States or any agency thereof, and may acquire and hold membership in the federal reserve system.