N.M. Admin. Code § 12.20.41.8

Current through Register Vol. 35, No. 21, November 5, 2024

Section 12.20.41.8 - SIGNATURE GUARANTEEING

A. The supervisor finds that associations licensed under the provisions of the state statutes have the authority to guarantee customer signatures for documentary transactions in which an association has an interest as part of its deposit taking, lending or (in the case of an association which is also a trust company) trust business, as well as guarantees executed as a separate customer service with respect to stock transfers and similar transactions in which the association has no direct interest.

B. Nothing in this sub-part [now part] is to be construed as an intent to limit any powers possessed by an association under other statutory or regulatory provisions.

N.M. Admin. Code § 12.20.41.8

11/25/81; 8/30/97; Recompiled 10/15/01