New Mexico Statutes 58-1C-3. Definitions
As used in the Interstate Bank Branching Act:
Terms Used In New Mexico Statutes 58-1C-3
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
A. “bank” means that term as defined in 12 U.S.C.A. Section 1813(h), but “bank” does not include any “foreign bank” as defined in 12 U.S.C.A. Section 3101(7), unless the foreign bank is organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands and its deposits are insured by the federal deposit insurance corporation;
B. “bank holding company” means that term as defined in 12 U.S.C.A. section 1841(a)(1);
C. “bank supervisory agency” means:
(1) an agency of another state with primary responsibility for chartering and supervising banks; and
(2) the office of the comptroller of the currency, the federal deposit insurance corporation, the board of governors of the federal reserve system, and any successor to these agencies;
D. “branch” means that term as defined in Subsection C of Section 58-5-2 N.M. Stat. Ann.;
E. “control” means that term as defined in 12 U.S.C.A. Section 1841(a)(2);
F. “director” means the director of the financial institutions division of the regulation and licensing department;
G. “home state” means:
(1) with respect to a state bank, the state in which the bank is chartered; (2) with respect to a national bank, the state in which the main office of the bank is located; and
(3) with respect to a foreign bank, the state determined to be the home state of the foreign bank pursuant to 12 U.S.C.A. Section 3103(c);
H. “home state regulator” means the bank supervisory agency of the state in which an out-of-state state bank is chartered;
I. “host state” means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain, a branch;
J. “insured depository institution” means that term as defined in 12 U.S.C.A. Section 1813(c)(2);
K. “interstate merger transaction” means:
(1) the merger or consolidation of banks with different home states and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or
(2) the purchase of all or substantially all of the assets and branches of a bank whose home state is different from the home state of the acquiring bank;
L. “main office” means the office declared by a bank to its chartering bank supervisory agency to be its main office;
M. “New Mexico bank” means a bank whose home state is New Mexico;
N. “New Mexico state bank” means a bank chartered under the laws of New Mexico;
O. “out-of-state bank” means a bank whose home state is a state other than New Mexico;
P. “out-of-state state bank” means a bank chartered under the laws of any state other than New Mexico;
Q. “resulting bank” means a bank that has resulted from an interstate merger transaction under the Interstate Bank Branching Act; and
R. “state” means a state of the United States, the District of Columbia, a territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands or the Northern Mariana Islands.