Section 58-1B-3 - Purpose and intent of act.
58-1B-3. Purpose and intent of act.
The purpose of the Interstate Bank Acquisition Act [58-1B-1 NMSA 1978] is to establish the conditions under which a company may acquire a New Mexico bank or a New Mexico bank holding company. In enacting it the legislature intends to avoid discrimination against out-of-state bank holding companies or foreign bank holding companies in any manner that would violate Section 3(d) of the Bank Holding Company Act.