N.M. Code R. § 12.20.39.8

Current through Register Vol. 35, No. 11, June 11, 2024

Section 12.20.39.8 - LOANS TO ONE BORROWER

A. The limitations on loans to one borrower that apply to federal and federally insured state savings associations under OTS Regulations Section 563.93 shall apply in the same manner and to the same extent to all state-chartered savings and loan associations. Compliance with the federal requirements, as amended from time to time, shall constitute compliance with all state requirements for limits on loans to one borrower by state-chartered savings and loan associations.

B. This regulation supersedes and repeals existing Regulation 78-3 S&LB and any other previous regulations governing lending limits to one borrower by state-chartered savings and loan associations.

N.M. Code R. § 12.20.39.8

3/31/78; 6/28/91; 9/15/97; Recompiled 10/15/01