Any federal association whose principal office is located in New Mexico is not a foreign corporation. Unless federal laws or regulations provide otherwise, such federal association and its members possesses [possess] all rights, powers, privileges, benefits, immunities and exceptions now or hereafter provided by the laws of this state for associations and for the members and savings account holders thereof. This section is additional and supplemental to any provision which, by specific reference, is applicable to federal associations and their members. History: 1953 Comp., § 48-15-142, enacted by Laws 1967, ch. 61, § 98. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Severability clauses. — Laws 1967, ch. 61, § 99, provides for the severability of the Savings and Loan Act if any part or application thereof is held invalid.
New Mexico Legal Code