N.M. Admin. Code § 12.15.15.13
Upon receipt of annual reporting information from a qualified depository institution the director shall promptly review the information and the documentation submitted therewith. The director may request additional information or clarification. The director may, but shall not be required to, investigate any fact alleged and/or obtain additional information from any source. No further action is required if the director reasonably believes that the qualified depository institution is eligible to participate in the linked deposit program. However, if after written request by the director a qualified depository institution fails to provide the required annual reporting information, or if the director reasonably believes the depository institution is no longer eligible to participate in the linked deposit program, the director shall so notify the state treasurer and the depository institution of said decertification.
N.M. Admin. Code § 12.15.15.13