New Mexico Statutes 45-6-227. Set-off
Current as of: 2023 | Check for updates
|
Other versions
Without qualifying any other statutory right to set-off or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to set-off against the account. The amount of the account subject to set-off is the proportion to which the party is, or immediately before death was, beneficially entitled under Section 45-6-211 N.M. Stat. Ann. or, in the absence of proof of that proportion, an equal share with all parties.
Terms Used In New Mexico Statutes 45-6-227
- Lien: A claim against real or personal property in satisfaction of a debt.