Statutes > New Mexico Statutes > Chapter 58 - Financial Institutions and Regulations. > Article 16 - Remote Financial Service Units, 58-16-1 through 58-16-18. > Section 58-16-11 - Restrictions on owning, leasing and operating.

Section 58-16-11 - Restrictions on owning, leasing and operating.

58-16-11. Restrictions on owning, leasing and operating.

A.     Notwithstanding any provision to the contrary in the Remote Financial Service Unit Act [58-16-1 NMSA 1978], no ATM shall be owned or leased by a person other than an in-state financial institution.   

B.     Notwithstanding any provision to the contrary in the Remote Financial Service Unit Act, no POS terminal shall be operated by any person other than a merchant or an in-state financial institution.